New Hampshire Boat Insurance
With more than 950 lakes in the Granite State, New Hampshire boat owners have a lot to look forward to during boating season. Throughout the spring, summer and early fall, NH lakes are busy with people fishing, water skiing and tubing or simply enjoying the open water. However, if an accident occurs, the results could leave you more than wet, you could be left in dire financial straits. Investing in a boat insurance policy can help protect your finances and keep you afloat.
Why Consider a NH Boat Insurance Policy:
No one has to tell you that a boat is a significant investment, but did you know that it is typically not covered under your homeowners insurance policy? This is because the size and speed may not be small or slow enough to qualify for coverage. Many home insurance companies have very specific guidelines of what they will and will not cover regarding boats so speak with a licensed insurance professional before your boat ever hits the water.
If you assume your boat is covered by your home insurance policy, only to find out after a claim that it is not, the costs could be devastating. This is why boaters in throughout New Hampshire should consider purchasing a separate boat insurance policy.
NH Boat Insurance Options:
Insuring your boat is similar to insuring a car. There are a variety of coverage options to choose from depending on your needs and budget. Some options you may be able to choose from for your boat policy include:
Property Damage and Bodily Injury Liability (BI/PD): This coverage pays for damages to other property including other boats or docks, as well as injuries to other boaters and passengers. This coverage also typically includes defense costs in case you are sued.
Comprehensive and collision: This coverage pays for the repairs required on your boat in case damaged or stolen in a covered claim. This could include running into a rock, colliding with another boat or dock or simply sinking while moored during a storm.
Uninsured/under-insured boater (UB/UIB): This coverage protects you in case you are involved in an accident caused by someone else, but that party does not have any insurance. UB/UIB can help pay for your injuries/medical bills and lost wages if you can't work.
Fuel Spill: Pays the cost of cleaning up a fuel spill in a covered claim.
Wreckage Removal: If your boat sinks and is legally required to be removed, your policy may cover the costs associated with removing it from water.
Fishing Equipment: Some insurance companies offer coverage for fishing gear and other personal property that is kept in the boat. This is a great, inexpensive coverage to have as part of your boat policy as though some personal property may be covered on your homeowners insurance, having it insured on a NH boat insurance policy means that you would not have to file a separate claim on the home insurance and pay a separate deductible and run the risk of having your homeowners insurance increase.
Emergency Assistance: Coverage for on-water towing, labor and emergency services like fuel delivery if stranded on the water.
How much is a Watercraft Policy for an NH Resident?
Similar to an auto policy, there are a number of factors that go into the rate of a boat policy including:
- Type of watercraft
- Value of watercraft
- Size and speed of boat (horse power)
- Driving history of operators
- Location of usage (inland, coastal or both)
There are a handful of insurance companies writing boats in NH so consider what is important to you, and have an insurance professional quote a policy to meet those needs. Boating is a way of life for many residents in the lakes region. If you enjoy taking your boat out onto the lakes and coast of New Hampshire, be sure you are fully protected with a boat insurance policy.
Why HPM Insurance for your NH Boat Insurance Policy?
HPM Insurance offers boat and personal watercraft insurance in Laconia, Bristol, Franconia, Milford, Bedford and throughout New Hampshire and New England. We have been insuring boats for generations and understand that boating is not just a watercraft but rather a lifestyle. For less than the cost of filling the gas tank of your watercraft each month, you can buy a customized boat policy to protect both your boat and lifestyle against the many calamities that could occur on the water.
To get a quote, please enter your zip code above and the professionals of HPM will reach out to you to provide a customized boat policy to meet both your needs and budget. There is no cost to get a quote, so you have nothing to lose and only peace of mind to gain. Happy sailing!