If you own a boat/watercraft in Georgia, you aren’t legally required to carry any form of watercraft insurance. However, this doesn’t necessarily mean that some other stipulation might require you to have boat/watercraft insurance. Our team at Bingham Insurance Group is committed to helping Braselton, GA residents understand the benefits of boat/watercraft insurance and whether they should invest in it.

What is Boat/Watercraft Insurance?

Boat/watercraft insurance covers your boat, yacht, or personal watercraft. Like car insurance, it provides liability protection against damage to motor-powered vessels with 25/mph or more horsepower. In other words, like car insurance, boat insurance provides protection in a boating accident. This coverage can cover you, your watercraft, and damage to another watercraft or person. Watercraft liability insurance includes coverage for bodily injury and property damage coverage and property and indemnity coverage. If you purchase watercraft coverage beyond liability, your boat is also covered if it’s stolen.

Under What Circumstances Would Boat/Watercraft Insurance be Required?

Although you aren’t legally required to carry boat/watercraft insurance in Georgia, you may still need it. Some boatyards and marinas require patrons to have boat and watercraft liability insurance. Also, if you’re financing your watercraft, your lender will more than likely require you to carry watercraft insurance. If you’re a homeowner, your homeowner’s insurance usually offers limited coverage for watercraft. However, the coverage amount is typically very small. If you’re a Braselton, GA watercraft owner and have questions about purchasing insurance coverage, call us. Our team at  Bingham Insurance Group will be happy to answer all of your questions. We’re standing by.