Spring is in the air and here in Bluffton we are itching to be back on the water. If you are contemplating purchasing a new boat or watercraft this season and wondering how the insurance works we are here to help. At Papay Insurance we not only insure cars we also offer boaters insurance throughout South Carolina and Georgia.
Boat insurance and car insurance are similar in some ways but differ significantly in others.
1. Coverage Types: Both boat insurance and car insurance offer various types of coverage, including liability coverage, which covers damages or injuries you cause to others, and comprehensive coverage, which covers damages to your own vehicle or boat caused by non-collision events (such as theft, vandalism, or storms).
2. Policy Components: Boat insurance policies may include coverage for physical damage to the boat itself, as well as coverage for personal property on board, towing assistance, and coverage for injuries to passengers. Car insurance policies, on the other hand, may include coverage for medical payments, personal injury protection, uninsured/underinsured motorist coverage, and rental car reimbursement.
3. Risk Factors: The risk factors for boats and cars differ. For example, boats are subject to risks such as sinking, capsizing, and storm damage, which are not concerns for cars. Similarly, cars face risks such as collisions with other vehicles or objects, which are not typically concerns for boats.
4. Legal Requirements: While car insurance is legally required in most states for vehicles operated on public roads, boat insurance boaters insurance isn’t mandated by law in either South Carolina or Georgia.
5. Costs: The cost of boat insurance and car insurance can vary widely depending on factors such as the value of the vehicle or boat, the coverage limits and deductibles selected, the driver or boat owner’s age and driving/boating history, and the location where the vehicle or boat is operated or stored.
