Maryland Boat Insurance
Balderson Insurance is an independent agency providing boat insurance in Maryland for all types of powersport and watercraft vehicles. Whether you need insurance for a jet ski on a small waterway or a Yacht on Chesapeake Bay, we can find the right coverage to suit your needs. We work with several top insurers in Maryland to bring you a carrier that will provide you PWC insurance or yacht insurance at a reasonable price. To discuss your MD boat insurance needs, contact us today at (301) 874-0772.
If you have a homeowners or renters insurance policy, you are normally covered for small watercraft such as canoes, boats with motors under 25 horsepower and smaller sail boats. The amount of coverage for your small watercraft typically ranges from $1000 to $2000 or up to 10% of the personal property coverage limits within your policy. Take a look at your policy or call your agent to find out if your small boats have the proper level of coverage.
If you have larger and more valuable watercraft, you will likely need a separate insurance policy. The amount of coverage you need will vary depending on several factors; such as the type of watercraft, size, value, what it is primarily used for, and where (which waterways) it will be used.
Personal Watercraft Insurance (PWC Insurance) in Maryland
Maryland boat insurance provides protection outside the limits of your homeowner or renters insurance policies in the event that your personal watercraft is involved in an accident.
The typical PWC policy insures for:
- Property Damage: to the watercraft from covered incidents.
- Bodily Injuries: to third parties caused by the watercraft for which you are personally liable.
- Liability for Guest Passengers: injuries to guests riding in your watercraft resulting from a covered incident.
- Theft: of your boat or covered boat accessories.
- Medical Expenses: for those injured by your personal watercraft.
Liability coverage limits begin at $15,000 and in most policies can be increased to as high as $300,000. For coverage beyond the policy maximum, you may want to consider umbrella insurance. Deductibles can range from $250 to $1000 depending on the carrier and how much you are comfortable paying out of pocket in the event of a covered incident.
You may choose to purchase additional insurance for boat accessories such as trailers, motors, boat covers, docking fenders, communication devices and much more. Physical damage, theft, liability and medical expense coverage are all available for watercraft accessories.
Every boat and personal watercraft is unique and every user has his/her own specific uses for it. Give us a call at (301) 874-0772 to discuss your Maryland PWC insurance needs and any discounts you may be eligible for.