Arizona is thought to be a dry state, nevertheless, it features a lot of lakes that hold a large number of water sport opportunities for residents. Be it inner tubing, water-skiing, sail boating, canoeing, and more, Arizona never disappoints those seeking fun on the water. Having boat insurance will help protect you and your personal watercraft.
Arizona Boating Facts
There had been ninety-nine boating accidents in Arizona in 2012, which includes 77 injuries and 4 fatalities.
- Alcohol was a contributing element in 20 injuries in 2012.
- In 2012, there have been over 199,000 Boats registered in AZ. Arizona requires that everyone owning a watercraft be registered in the state.
Each individual has to have a Coast Guard-approved life jacket available, also 12 and underneath should put on the life jacket at all times. Additionally, no one below the age of 12 may operate a watercraft with an engine of more than 8 horsepower except when an adult is present.
What is Boat Insurance?
Boat insurance is a policy designed to help protect you from fees and litigation costs that rise up from a boating accident. The following shows an example of an average boat insurance policy:
- Liability coverage: This insurance is designed to cover the harm you would face when you’re deemed at fault for an accident. It can also additionally help cover medical payments of the injured party. It doesn’t cover harm for your vessel or you or immediate family.
- Collision coverage: This can help repair the damage on your vessel, no matter if the fault lies with you or another party.
- Comprehensive insurance: Typically recognized as “other than collision”, this typically covers events like fire, wind damage, vandalism, and theft.
- Medical payments coverage: It can help pay the medical costs of everybody injured due to a boating accident that you are concerned about.
- Towing and wreckage removal: Most of our bodies of water require you to remove a disabled or wrecked boat. Even though it’s completely submerged. This can be a highly-priced endeavor, and this insurance is designed to help pay the costs.
- Pollution cleanup: If your boat is involved in a gasoline spill, you may be deemed chargeable for cleanup. This is another pricey process, as it involves expert environmental consultants to survey and estimate the harm and restore. Pollution cleanup coverage can also assist you to pay those charges.
The National Association of Insurance Commissioners (NAIC) says the personal property coverage of your homeowners’ insurance may cover a small boat for $1,500 or less in physical damage. However, coverage for your liability risk is limited. A large boat will be excluded from your homeowners’ policy for property and liability coverage. Personal watercraft, such as jet skis, often require a separate policy.
What Kinds of Boats are Covered through Boat Insurance
Insurance corporations understand that boats are assets and the majority of boats are eligible for coverage. Here is a listing of boats that may be covered:
- Jon Boats
- Speed boats
- Fishing boats
- Bass Boats
- Charter boats
- Cabin cruisers
What to Expect from your Boat/Watercraft Insurance?
Agreed Value Coverage: – Watercraft depreciate similar to automobiles. Actual cash value rules could make it difficult to replace a boat that’s been stolen or destroyed. In other words, this means if your boat is a complete loss you will get the market value, minus any deductible.
Liability – Like car insurance, liability coverage provides coverage to different boaters and boat proprietors in the event you’re at-fault in an accident on the water. It will pay to restore or update the belongings of someone else as well as for their medical care, misplaced wages, and different expenses incurred due to a boating accident you are at-fault in.
Medical Payments – Medical payments insurance can pay for medical care as a result of a boating accident. This coverage is available from $500 to $10,000 and covers you, your passengers, and even your water skiers/tubers, regardless of who is at fault.
Physical Damage Coverage (comprehensive/collision). It will pay for the value to repair or update your watercraft, its motor, any permanently attached device, and your trailer.
Uninsured/Underinsured Watercraft Bodily Injury – If you’re hit by an uninsured or underinsured boater, and you are injured, this part of insurance can pay for medical treatment, misplaced wages, and also other fees related to lose from the incident.
Fuel Spill Liability and Wreckage Removal – Should your boat sink or be critically damaged, there is a danger that it could leak oil or fuel into the water. As the boat’s owner you’re required by way of law to have this cleaned up, which can be time-consuming and expensive.
Personal Effects – Your policy can provide insurance for many private effects, together with clothing, mobile phones, scuba/snorkeling, and other sporting goods, and fishing gadget. Personal effects coverage does not include jewelry, watches, or furs and all items are subject to the deductible.
Unattached Equipment Coverage. This pays to restore or update a device that isn’t completely attached to your boat or personal watercraft, however, is designed for use usually on a ship. Also, this includes gadgets like lifesaving system, water skis, anchors, oars, extinguishers, tarps, etc.
Emergency Assistance. The Emergency Assistance Package provides coverage for towing, labor, and delivery of gas, oil, or loaned battery if the watercraft is disabled whilst on the water.
The State of Arizona does not require that you carry boat insurance but we strongly recommend it.
Bodily Injury: $100,000 per person /$300,000 per accident
Property Damage: $50,000 per accident
Uninsured/Underinsured Motorist: $100,000 per person /$300,000 per accident
Comprehensive: $500 deductible
Collision: $500 deductible
Custom Parts/Equipment: $2000
Personal Effects Replacement: $2000
Also, if you’d like to learn more about PWC insurance, please browse our Boat FAQ