Most watercraft owners keep a range of valuables onboard. Whether it’s a jet ski, a yacht, or any watercraft in between, chances are there are valuable personal items and electronic equipment that a watercraft owner wouldn’t want to see stolen or destroyed. However, watercraft are often vulnerable to various threats, ranging from theft and vandalism to natural disasters like storms. So, does watercraft insurance cover onboard valuables? Let’s find out.
Coverage for Personal Items
Most standard watercraft insurance policies, readily available through STARS Insurance serving Deerfield, IL, include some level of coverage for personal property. This typically covers items that are directly related to the operation and maintenance of the boat, such as safety gear, navigational aids, and sometimes fishing equipment. However, the coverage for personal valuables such as jewelry, electronics, or other expensive equipment might be limited or excluded altogether.
Limitations and Exclusions
The specifics can vary significantly from one policy to another. Generally, the insurer caps the amount it for personal items, which may not be sufficient to cover high-value goods. Certain items may be excluded unless specifically added to the policy through an endorsement.
Additional Coverage Options
For those needing more comprehensive protection for valuable personal items, purchasing additional coverage or a rider can be a good option. These add-ons can increase personal property limits and cover items not included under the standard policy. It’s essential to discuss these options with your insurance provider to ensure that all valuable items are adequately protected.
While watercraft insurance does offer some coverage for onboard valuables, it is often limited. Boat owners should carefully review their policies and consider additional coverage to protect their valuable personal items fully. Have questions? Contact STARS Insurance in Deerfield, IL, for help.