Your boat spends more time in your driveway than on the water. Such is the reason you feel it unnecessary to purchase boat insurance. An indemnity plan for your water vessel may not be required in Memphis, TN, but such financial covering is essential. The agents at Keltner Insurance can help you understand why boat insurance is so important. 

What does boat insurance cover? 

Boat insurance works like auto insurance. A good plan typically covers:

• The vessel;
• Medical Bills;
• Property Damage.

The extent that an insurance provider pays after an incident largely depends on your policy limits. Those who want cheaper monthly premiums may not have policy limits that pay for everything. Individuals who choose to pay more for insurance coverage, on the other hand, may find their plan pays out the maximum when the unforeseen happens. 

Is boat insurance always an option?

For the most part, boat insurance is not required in Memphis, TN. There is no state law that mandates water vessel owners to purchase a policy. There are, however, instances in which boat insurance may be required. 

Individuals who financed the purchase of their boat may need to buy a boat insurance plan that, at a minimum, covers the vessel. You may also view boat insurance as more of a requirement if you operate the vessel more often and with passengers. You are responsible for damages you cause to other boats as well as to individuals riding with you even if you do not have boat insurance as a financial cushion.  

How much boat insurance should you buy?

It is best to speak with an expert at Keltner Insurance when determining how much boat insurance to purchase. An agent can fully explain the benefits of a good policy as well as ensure you have the plan that best suits your lifestyle. Call Keltner Insurance today to get started with a quote for boat insurance.