The insurance world classifies both houseboats and yachts in a similar class. This is why the price of the coverage and the insurance conditions are practically the same. The key difference between houseboats and yachts are the following factors: the production of the houseboat makes it more difficult to navigate the waters and it is not as capable of navigating rough seas as the yacht.
Houseboat insurance coverage and its yacht counterpart focus on the boatman’s past sailing experience, use of the vessel, the season it is on the waters, and parallel insurance rates that match the area of navigation in which it is used.
In general, after paying the applicable insurance deductibles, this type of insurance covers a number of things.
helmet coverage
This insurance covers the actual physical damage suffered by the body of the boat, including boat trailers, motor and boat equipment and accessories. Helmet coverage does not cover the following exclusions:
• Ship wear
• Anything on the boat that is damaged as a result of poor maintenance.
Personal Effects Coverage
This insurance covers the personal effects of the navigator. Things like clothing, cell phones, I-pods, sports and fishing equipment, etc., are covered by this type of policy.
Liability Coverage
Just as auto insurance includes liability that covers an at-fault accident, houseboat and yacht liability coverage protects against an at-fault boat accident. This coverage pays for the repair or replacement of the boat as a result of a boat collision that is your fault. It also covers medical care, lost wages, and any other costs that arise as a result of an accident for which you are responsible.
Medical payments coverage
Medical Payments coverage covers the costs of medical care that arise due to a boating accident. The following are included in the coverage: the insured, boat passengers and water skiers. The good thing about this form of coverage is that it protects you regardless of who is at fault in the accident.
Coverage for uninsured boaters
We all know that car insurance is mandatory. However, in the case of boat insurance, there is no legal obligation to purchase related coverage. In the event you are involved in a boating accident where the other party is at fault but you are uninsured or underinsured, uninsured boater coverage protects you by paying for medical care and lost wages, as well as other expenses caused by the collision.
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