Boat/Watercraft Insurance in Indiana

Owning a boat or watercraft is one of the greatest ways to spend time in nature and have fun with those you love. To keep the good times rolling, though, it is essential that you practice responsible ownership, and that includes making smart insurance choices. Here at CXE Insurance, serving New Albany, IN, and the surrounding areas, we want to help boat and watercraft owners in Indiana stay safe out on the water. Keep reading to learn more about boat insurance.

Is Boat Insurance Required By Law?

In Indiana, boat and watercraft insurance is not required by law. However, keeping your boat or other watercraft insured is the only way to protect yourself from expensive liabilities. You should also note that many marinas located in Indiana will require that watercraft have some insurance coverage before you are allowed to dock there.

How Will Boat Insurance Help Me?

Keeping solid boat or watercraft insurance in place will protect you from expensive liability costs. If your boat or watercraft is involved in an accident that causes damage or injuries, you will be held liable and financially responsible for paying for damage to other people's property or medical expenses if someone was injured. This could create financial hardship for you if you paid this out of pocket without assistance from an insurance policy.

In addition to this risk, you also risk losing the investment you have made in your boat or watercraft if your craft is damaged or lost due to fire, natural disaster, or if it is stolen. If, however, you have insurance in place, insurance will help pay for the repair or replacement of your craft.

If you would like to learn more about boat or watercraft insurance in Indiana, please contact us at CXE Insurance serving New Albany, IN, and the surrounding areas. We will be happy to assist you.