There are about 15,000 lakes in Wisconsin. It’s not surprising that the state ranks in the top 10 for boats per capita. If you own watercraft, whether it’s a pleasure boat, fishing boat, pontoon boat, speed boat, personal watercraft, or yacht, make sure it’s properly insured before heading out on the water. A boat insurance policy can insure your watercraft, your inboard or outboard motor, as well as the trailer you haul it on against most risks. If something unfortunate were to happen, having insufficient watercraft coverage could sink more than your boat. It could wipe out your bank account if the other party is injured or killed.
Boat and Watercraft Risks
When you’re out on the water, no one wants to think about bad things happening, but there are a number of things that could go wrong. Hitting a submerged rock or tree stump, another watercraft, swimmer or downed skier, or the boat being damaged from a storm, stolen, or catching on fire are all things that can happen. Most everyone tries to be as safe as possible, but accidents do happen.
It is imperative to do what you can to protect your boat, your passengers, and your assets from harm. Thiel Insurance can help you choose the right coverage, covering your watercraft, bow to stern. That could include extra electronics, fishing equipment, electric or kicker motors, sports equipment like water skis, tubes, wake boards, and more as well.
At this time, Wisconsin does not require insurance coverage for watercraft, except in the case of commercial fishing boats. However, many vessels can be rather expensive, and a comprehensive boat insurance policy can protect your investment should it become damaged. Additionally, watercraft liability policies provide coverage to pay for damages due to an accident, including bodily injury, property damage, and the cost of legal defense.
Additional Boat Insurance Coverage
In addition to the basic coverage that is included in most boat owner’s policies, there are a few optional coverages as well:
Actual Cash value (ACV)/Agreed value (AV)/Total Loss Replacement
While most boat policies offer only a actual cash value settlement for the watercraft in the event of a loss, some carriers offer agreed value or total loss replacement. Be sure to discuss what may be available for your individual situation.
Uninsured Boaters
Pays a covered person occupying a boat or Personal Watercraft (PWC) for bodily injuries caused by the owner or operator of an uninsured/underinsured boat or PWC.
Fishing Equipment & Personal Effects
Covers fishing equipment like tackle boxes, fishing poles, etc at a much lower deductible than a typical home insurance policy deductible.
Wreck Removal & Fuel Spill Liability
Pays the reasonable costs for attempted or successful raising, removal, or destruction of the wreck of an insured watercraft if the damage was caused by a covered loss. Coverage for unintentional oil or fuel spills that result in bodily injury or property damage.
Get Savings with Bundles & Discounts
Do you have more than one boat? Or maybe a home or auto insured with us already? Have you taken and passed a boaters safety course? If so, it is possible that you will qualify for discount when we bundle your policies together. Ask us about what potential discounts and bundles could be applied to your situation.
Contact Us for Your No Obligation Boat Insurance Quote
Thiel Insurance has the experience and knowledge to help you find the right watercraft insurance policy for your needs, whether you have a fishing boat, pontoon boat, ski boat, jet ski and/or a yacht. Contact Thiel Insurance Group for your Boat Insurance Quote and let one of our agents discuss your coverage options. Call or stop into one of our local offices in Appleton and Kimberly to get started.
