If you own a boat in Northeast Arkansas, it is important to make sure you are doing everything you can in order to protect it. Boat insurance is one of the best ways to have financial protection. This will allow you to rest easy regardless of whether you are out on the water in your boat or your boat is sitting in dry dock.
Is it Mandatory?
There are various levels of coverage for boat insurance. Arkansas requires liability insurance for all boat owners. Essentially, this means that you will need to have liability for personal injury as well as property damage. This allows you to be compliant with state law as well as to protect yourself financially.
If you are cruising along and you hit another boat, or another boat hits you, there is a good chance that someone is going to be injured. There is also likely going to be property damage. You will have the ability to file a claim with the insurance company and have them take care of the majority of expenses. This will ensure that you only have to pay minimal out-of-pocket.
What Isn’t Mandatory
There are a few components of boat insurance that are not mandatory, but highly recommended. This includes damage that could take place when it is sitting at a pier, anchored while fishing, or even in dry dock.
You want as much protection as possible in order to protect your finances. This includes what could happen within accidents, storms, theft, and much more. Talking with an independent insurance agent can help you to understand more about what your options are when it comes to purchasing boat insurance in Arkansas.
At GTW Insurance, we look toward helping you find the right insurance for your boat. Contact us today to learn more.