Having a personal boat is a fantastic feeling. You can go out on the water for adventures, fishing, and recreational sport, a luxury that not everyone can afford. So, one can understand how much value their boats hold.
Because water vessels are so valuable, you must be well-prepared if something goes wrong with them. Therefore, buying boat insurance is an essential element to guarantee a worry-free boating adventure every time.
So, if you’re buying a boat, you must purchase the boat insurance too.
State Farm Boat Insurance
When it comes to boat insurance, State Farm has been a reliable name for nearly a century. It operates in 48 states of the country, and it’s one of the most trusted outlets for boat insurance.
Since State Farm covers some critical aspects of boating insurance, I will cover these elements to understand why State Farm can be a reliable insurance provider for your boat. So, let’s check out what State Farm has to offer to its boat-loving community.
What State Farm Offers
State Farm offers numerous insurance packages according to your boat type and use. It covers most aspects that can quickly get you out of trouble in accidents, natural disasters, and medical treatments.
In general, there are two categories which are:
- Boat Insurance Coverage
- Access to Endorsements
Boat Insurance Coverage
When it comes to boat insurance, State Farm gives comprehensive and customized solutions to its clients. There are three main areas that State Farm insurance covers. Let’s explore them:
Property Damage Coverage
When you’re in the water, it’s common to get hit by a boat or when you hit something. If you cause damage to another boat, property, or structure in the water, the Property Damage Coverage will cover you for the caused damage.
To be sure, the coverage applies when you’re at fault. So, if someone else hits your boat, the damage coverage doesn’t fall on you.
Bodily Injury Coverage
The bodily injury coverage covers for the injuries caused to the people in the accident. If you’re at fault, the insurance will pay for the treatment of the injured.
Moreover, it also covers you for any legal procedures and defense if needed. It’s a valuable coverage because property damage may be reversible, but there can be several complications in the case of individuals.
If salvage removal needs, insurance companies often deduct the amount that needs to be spent on it. Else, they may offer some percentage of the insured value for the boat. In any case, it can prove costly for you in case of wreckage or salvage.
State Farm gives Salvage and wreckage removal coverage, so it covers the liability cost that goes into it. Therefore, if your boat ends up in wreckage, you are still safe from severe financial setbacks.
Access to Endorsements
The access to endorsements allows the customers to with additional endorsements to maximize its safety plans. Here is what they offer:
In tropical storms, windstorms, hurricanes, and tornadoes, the plan covers all the damage caused. So, if you happen to live in any hurricane-prone state such as Florida, Texas, or the Carolinas, you’re better off opting for this coverage.
Carry-On items and Fishing Gear
The fishing gear coverage is essential for anglers, either professionals or hobbyists. You can add replacement coverage for your fishing gear like reels, tackle boxes, rods.
Moreover, if you want to add coverage for your items such as the phone, or SCUBA gear, that can happen. The endorsement will cover for damage, stealth, or falling off from the boat.
Total Loss Replacement
If your boat is completely damaged, it’s a total loss. Then, the company pays you according to the agreed value. It could be the actual cash, replacement cost, or the agreed value.
Personal Injury Protection
Referred to as PIP, this endorsement will cover the medical expenses, funeral service, income loss, and loss of essential service. Often, customers confuse it with medical payments, but MedPays will cover you for a reasonable medical expense.
The medical payment covers you for injuries caused by accidents. It pays regardless of who’s at fault in the accident. Moreover, you can also add funeral expenses to it.
I like this one a lot. IF you have a non-motorized trailer, the policy covers its damage or any damage caused by it. According to the policy, it will also tow your boat.
If an accident or mechanical fault causes delay or interruption in your trip, the travel expense coverage will cover you for it. Other interruption causes include injury, theft, and illness, etc. It applies to all the non-refundable travel expenses.
Why State Farm Insurance?
I have highlighted the areas that State Farm will cover. If you’re still wondering if you should buy their policy, here are a couple more things.
Easy to Locate Local Agents
Since State Farm is such a renowned and established company since 1922, it has firm footholds in most states. So, you can comfortably find local agents everywhere. Although online applications are also available, you can get that too from State Farm if you want a personal touch to your insurance deal.
High Financial Strength
Insurance companies are rated based on their financial strength. According to individual rating platforms, State Farm rates among the top insurance providers in the country. So, it’s a trusted name for boat insurance.
Why Boaters Want Insurance
Boat insurance is critical for a seamless boating experience. Whether it’s coverage for natural damage, theft, technical flaw, or accidents, financial content can help in a time of need. Because State Farm covers most of these aspects, customers incline towards their policies.
Now that you know all about State farm coverage plans, it should be easier to pick and choose the right option. It offers covering damage expenses for your vessel regardless of its type, shape, and size.
With the right coverage plan, you can also invest in your boating gear for a thrilling experience on the water.