Boat/Watercraft Insurance in Maryland

Maryland is a great place for boating. Residents can take their boats out on the Atlantic Ocean and along the Chesapeake Bay. If you have a boat, you can spend the day on the water with family and friends. If you are thinking about buying a boat, you are going to need to have boat insurance. If you have a lien on your boat, insurance is mandatory. If you are going to keep your boat at a marina, many require liability insurance to protect all of the boats and the marina owner's property. If you aren't legally required to have boat insurance, you should still have it for a few reasons.

Liability Insurance

Anything can happen when you are out on the water, which is why liability insurance is so important. If someone is injured on your boat, the insurance will cover the cost of their medical expenses. It would also cover damage to another boat or any property damage resulting from an accident that you caused. This will help a lot if you cause an accident. Without insurance, you would need to pay for the damages out of your own pocket.

Comprehensive Insurance

Comprehensive insurance adds much more protection. If your boat is stolen, vandalized, or damaged, you will be covered. It also covers if you break down in the middle of the water and need a tow. Having a boat towed is much more difficult and more expensive than having your car towed. Because of this, having boat insurance is very helpful.

You Can “Lay Up” Your Policy

One great thing about Maryland boat insurance is that you don't have to pay for the policy all year. When you aren't using your boat during the winter, you can lay up your policy, which means your policy will be on hold during the winter. When winter is over, you will start paying for your insurance again.

If you plan to buy a boat, visit Renee Oliver Insurance Agency in Silver Spring, MD. Our agents can help you buy a policy that provides the coverage that you need. To get your policy started, give us a call or stop by our office in Silver Spring, MD today.