If you're planning on buying a water vessel soon, it's wise to purchase boat insurance with it. An adequate policy will offer protection in all kinds of scenarios. If you're unsure about taking on the added expense, here's why you should reconsider. 

What Are Some Reasons to Get Boat Insurance? 

1. Maximize Coverage 

Some boaters opt to forgo boat insurance because they assume their homeowners policy will cover their vessel. While yours might provide some coverage, it will be far from complete. While the boat is being stored on your property, for example, your homeowners insurance might protect it from theft, vandalism, and similar perils. To ensure you have enough protection while on the water, however, you're going to need a specialized boat policy designed with your particular vessel in mind. 

Tailored boat insurance will reimburse you for either the agreed value or the actual cash value of the vessel for a covered peril, like a fire or collision. The agreed value can be as much as you paid for the boat, while the actual cash value will take into account depreciation and wear and tear. You can also include coverage for towing and replacing the equipment onboard. 

2. Protect From Liability

If you don't purchase liability insurance specifically for the boat, you could be deemed personally responsible for any injuries that occur on the vessel. Considering the price of medical care nowadays, you could end up paying tens of thousands of dollars, even for a minor accident. Thankfully, there's no need to worry about covering any such expenses out of pocket if you have reliable boat insurance; you'll only have to cover the deductible. 

3. Safeguard Against Unpredictable Events

An adequate boat insurance policy will shield you from the financial impact of unexpected incidents. While you might practice safety whenever you're behind the helm, you can't control the weather or the other vessels in the surrounding water. 

From sudden gales to drunk boaters, you face a host of hazards every time you head out on the water. The best way to protect your investment from these and other perils is by carrying boat insurance. 

For help finding an adequate boat policy that will meet your coverage needs, contact Russell Insurance Agency in Robertsdale, AL. They've served customers across Baldwin and Mobile counties in Alabama and Escambia and Santa Rosa counties in Florida since 1998. Their knowledgeable agents are committed to helping clients secure affordable boating coverage. Visit their website or call (251) 947-3607 to request a quote.