The insurance world categorizes both houseboats and yachts in a similar class. As a result, the cover prices and the insurance conditions are virtually the same. The main difference between houseboats and yachts are the following factors: the production of the houseboat makes it more difficult to navigate on the water and it is not as capable of navigating the rough seas as the yacht.
Houseboat and associated yacht insurance coverage is centered around the skipper’s navigation experience, the use of the boats, the season it is on the water, and the parallel insurance rates corresponding to the cruising area in which it is used.
In general, this form of insurance covers several things after the relevant deductibles have been paid.
This insurance covers actual physical damage to the boat’s bodywork, including the ship’s trailers, equipment, and engine and vessel accessories. Hull coverage does not cover the following exclusions:
• Boat wear
• Anything on the boat that has been damaged due to lack of maintenance
Personal belongings cover
This insurance covers the skipper’s personal belongings. Things like clothing, mobile phones, I-pods, sports and fishing equipment and so on are protected under these types of policies.
Similarly, auto insurance covers liability that covers a faulty accident, houseboat and yacht liability coverage protects against a faulty boat accident. This coverage pays for boat repair or boat replacement as a result of a boat collision that is your fault. It also covers medical care, lost wages and any other costs incurred as a result of an accident for which you are responsible.
Medical Payment Coverage
The Medical Reimbursements cover covers any medical expenses incurred as a result of a boating accident. The cover includes: the insured, boat passengers and water skiers. The beauty of this type of cover is that it protects regardless of who is to blame for the accident.
Coverage for uninsured water sports enthusiasts
We all know that car insurance is mandatory. However, in the case of boat insurance, there is no legal requirement to have related coverage. In the event that you are involved in a boating accident where the other party is at fault but not or underinsured, uninsured boaters coverage protects you by paying for medical care and lost wages, as well as other expenses caused by the collision.