What is boat insurance UnderstandingThe Basics of Boat Insurance | #AllAboutInsurance
If you own or operate a boat or other marine craft, marine insurance can cover you for loss, damage, theft or injury risks to your craft and its occupants, as well as any costs you may incur to other people or property through accidental damage.
Many insurers will offer boat or marine craft insurance that includes basic cover for damage or loss, with a range of additional options available. Some specialist boat insurers and brokers can cover boat owners for less common insurance risks and activities.
Boats and other marine craft can be expensive assets, and if you accidentally damage another boat or marine infrastructure you could face significant financial costs. For most boat owners, marine insurance is a necessity.
Similarly to motor insurance, marine insurance policies will specify either an agreed value or a market value as the sum insured for the boat and equipment you own.
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