Boat Insurance in Terre Haute and the Wabash Valley

Protect Your Boat On and Off the Water

Crapo Insurance Agency helps boat owners in Terre Haute and throughout the Wabash Valley compare available insurance options for boats, equipment, liability and other boating exposures.

Some homeowners policies may provide limited protection for certain small watercraft, but boat owners should not assume that a homeowners policy provides all of the protection needed for their boat or boating activities. A separate boat policy may provide broader protection depending on the vessel and insurer.

What Can Boat Insurance Cover?

Depending on the policy, boat insurance may provide protection for:

• physical damage to the insured boat;
• boating liability;
• damage to another person's property;
• medical payments;
• trailers and certain attached equipment;
• theft or other covered losses;
• uninsured or underinsured watercraft exposures;
• towing or emergency assistance when offered.

Exact coverage, limits, deductibles and exclusions vary by policy and insurance company.

Protecting the Value of Your Boat

Boat policies can use different methods for determining the value paid after a covered loss.

Depending on the policy, settlement may be based on actual cash value, an agreed amount, or another valuation method.

Understanding how the policy values the boat is important when comparing coverage—not simply comparing premiums.

Equipment, Accessories and Trailers

Boats often involve more than the hull and motor.

Depending on your situation, it may be important to discuss trailers, permanently attached equipment, electronics, fishing equipment and other accessories when arranging coverage.

Do not assume that every item associated with the boat is automatically insured to its full value.

Liability on the Water

A boating accident can cause injury to passengers, swimmers or occupants of another vessel, as well as damage to docks, boats or other property.

Liability protection is therefore an important part of a boat insurance review.

Review Coverage as Your Boating Needs Change

Review your policy when you:

• purchase or replace a boat;
• upgrade the engine;
• add significant equipment;
• purchase a trailer;
• change where the boat is stored;
• change where or how it is used.

Talk With a Local Independent Agent

If you own a boat in Terre Haute or the surrounding Wabash Valley, Crapo Insurance Agency can help you review available boat insurance options.