A boat insurance policy is often seen as a cross between a vehicle and a home insurance policy. A boat policy covers all motorized vehicles that operate on the water. This includes jet skis, pontoon boats, yachts and fishing boats. Boats that require manual padding like canoes and kayaks are not covered. While many boat policies are basic, there are some specialized coverages boaters can take advantage of.

If there is an accident that involves a boat and a loss occurs, specialized coverages can give the policy holder even more protection. Aspects of a boating accident that cost additional money, such as having the boat towed in an emergency or having wreckage removed are taken care of with specialized coverage. Paying for specialized boat policy coverage ahead of time can save thousands of dollars if there is an accident in the future.

Specialized coverages include total loss replacement, which is an option for boats that were previously untitled and are up to one model year old. Older boats are often insured for the actual value of the boat. There is also wreckage removal coverage, in which the insurance company pays for the removal of the wreckage in an instance where the policy holder has a physical damage coverage policy. Twenty-four hour roadside assistance is also available for boat policies. This feature covers trailer and towing if the boat needs to be taken from the scene for repairs.

It’s important for boat owners to keep in mind that specialized coverage can definitely come in handy, but isn’t necessary when purchasing a policy. It’s best for those who are searching for a boat insurance policy to go over their options in detail with an insurance agent. Some policies include specialized coverage at no additional cost, which could prove beneficial for those who boat often.