Boating is a risky hobby whether you are a novice or you’ve spent your entire life on the water. Accidents can happen to anyone, anytime, anywhere – and not just during poor weather conditions or low visibility. In fact, many boating accidents happen due to collisions or when boats capsize or swamp during ideal conditions. If you are faced with a watercraft disaster, could you afford to pay for the ensuing financial losses and damages? At Frangquist Insurance Agency, we help Wisconsin boaters find competitive rates on comprehensive watercraft insurance that will keep you protected against a wide range of perils both on and off the water.
Types of Boats
We insure many different types of watercraft. Whether you are in the market for a brand new boat, thinking about purchasing a used one, or simply exploring coverage options for a boat you already own, chances are we can find a policy custom-tailored to mitigate your risks and protect your financial interests – all at a price you can afford. We can insure:
- Personal watercraft
- Deck boats
- Ski boats
- Bass Boat
- Pontoon boats
- Wake boats
- And more
Are You at Risk?
If you own a boat, you have watercraft-related risks. Even if it is safely stored away out of the water, you could become the victim of theft or vandalism, or a tree could suddenly blow over onto your storage shed, smashing your boat and rendering it worthless. There are plenty of risks on the water, too, from running your boat aground to accidentally injuring another boater and damaging their watercraft. These types of incidents could lead to tens or even hundreds of thousands of dollars in damages – money you may have to pay out-of-pocket without the right insurance coverage.
Types of Boat Insurance Protection
Boat insurance usually includes many different coverages packaged into one convenient policy. This may include protection for:
This is an important part of any boat insurance policy, as it is the section of your coverage that protects you against financial responsibility related to third-party injuries or accidental property damages you cause as a result of owning or operating your boat. This includes coverage for your legal defense costs and court fees, as well as judgments and settlements against you. It may even cover environmental pollution liability in the event your boat capsizes and leaks oil or other harmful pollutants into the environment. Considering liability-related losses can accumulate to high amounts, we recommend purchasing high-limit liability coverage that minimizes the risk of out-of-pocket expenses due to a lawsuit.
How much would it cost to repair a damaged boat? How much would it cost to completely replace your boat if it were stolen or destroyed? With boat insurance that includes physical damages coverage, you would be reimbursed for damages related to your watercraft, minimizing your losses and helping you get back on the water as soon as possible.
When other boaters operate their vessels without liability protection, they put you at risk. If you are injured by an uninsured boater, uninsured watercraft insurance allows you to collect against your own policy for you and your passengers’ injuries to cover the cost of medical bills and other expenses.
Medical payments coverage pays cash benefits to you and your passengers if you are injured while boating, regardless of fault. The benefits are typically limited to a specific amount – usually just a few thousand dollars – but it can help pay for necessary upfront expenses, such as co-pays and health insurance deductibles.
You probably haul some extra equipment on your boat, whether it’s your skis and wakeboard or your high-tech fishing gear. If you have valuable ‘extras’ on board, talk to your agent about adding coverage for special equipment to your boat insurance policy.
Boat trailers can easily cost a couple thousand dollars or more. If yours is damaged or stolen, replacing it could be a costly expense. Trailer coverage helps protect you if your trailer is damaged due to a covered event.
Towing and Emergencies
You count on your boat to get you from shore to water and back without a hitch, but things do not always go as planned. If your watercraft runs out of fuel or you experience some type of mechanical failure, towing and emergency coverage can help get you out of a sticky situation.
If your boat capsizes, you’ll probably need help getting it out of the water. Wreckage removal coverage can help cover the cost of retrieving it.
How Much Coverage Do You Need?
There are many factors to consider when deciding on your boat insurance coverage limits. At Frangquist Insurance Agency, we help Wisconsin boaters like you assess the risks associated with boat ownership and match them to a policy that safeguards against potential losses. We consider many different variables when making recommendations for coverage, some of which include:
- Your boat’s type, age, condition, and value
- How and where you use your boat most
- The number of passengers you carry
- How much money you make
- The value of your savings and assets
- How many earning years you have ahead of you
- And more
Why Choose an Independent Agent?
We know you have a choice for Wisconsin boat insurance, and there are many companies competing for your business. At Frangquist Insurance Agency, our allegiance is to you – not the insurance company. As an independent agency, we help you shop and compare rates from multiple insurers to find quality coverage at affordable prices, all with the helpful support and guidance of an experienced agent.
Saving on Boat Insurance
Many of our customers qualify for discounts on their boat insurance premiums. Our job is to help you uncover those savings and help you keep more of your hard-earned money. You may qualify for lower rates if you:
- Are claims-free and accident-free
- Take a boater safety education course
- Insurer more than one boat
- Install certain types of safety equipment
- Store your watercraft during the off-season
- And more
For more information about Wisconsin boat insurance options or to find out how an independent agent can help you save, contact Frangquist Insurance Agency today.