Boat Insurance Coverages in Case Your Boat Sinks

Elmira, NY offers access to a variety of rivers and lakes for boating. While these bodies of water may be more protected than the ocean, accidents still happen and boats occasionally still sink. In case your boat or personal watercraft ever does sink, here are three boat insurance coverages that we at the Stewart Agency, Inc. recommend having.

Comprehensive and Collision

Comprehensive coverage and collision coverage protect your boat against covered causes of damage. Covered damage could be caused by a submerged object, shallow shore, or colliding with a dock or other boat. 

In such cases, one of these coverages may pay to repair or replace your boat. Paying to replace your boat is more likely if the watercraft is submerged. The damage that water causes to engines, carpeting and upholstery can be extensive.

Fuel Spill Liability

A sunken boat poses an environmental hazard, as it could leak fuel and/or oil into the water. The costs of cleaning up leaked fuel or oil are often expensive — and yes, you might be financially liable.

Fuel spill liability is designed to help with such costs if your boat’s fuel or oil causes environmental contamination. This could be a leak while your boat is floating, or if fluids leak after the watercraft sinks.

Salvage Coverage

Raising a sunken boat from the bottom of a lake or river requires specialized equipment and professional divers. Salvage coverage is a critical component of a policy that pays for the recovery of the vessel. This protection is not the same as towing coverage, which is for when a boat is floating.

Get the Right Coverages

If you need help finding boat insurance, contact us at the Stewart Agency, Inc. Wherever you like to boat in or near Elmira, NY, we can help you find boat insurance coverages that’ll keep your watercraft protected.