Protect Yourself with Boat Insurance – Davis Insurance Associates | Myrtle Beach Boat Insurance

Protect Yourself with Boat Insurance

Boating is a lifestyle, especially in our coastal community of Myrtle Beach.  What’s not to love when you’re enjoying the open waters with the sun shining, the wonderful sea breeze, and the smell of saltwater in the air while on your boat or personal watercraft?

Although, what would happen if your boat or personal watercraft was stolen or damaged?  What if your boat or personal watercraft damaged someone else’s property or even injured someone?  These are just some of the reasons that you would want to help protect yourself by purchasing boat insurance.

>Click here to start a Boat Insurance Quote<

 

What does boat insurance cover?

Boat insurance helps protect a boat or personal watercraft from certain risks and typically includes four main points of coverage:

1. Property Coverage:  This coverage may help pay to repair your boat or personal watercraft if it is damaged in an accident or may help to pay to replace it if it is stolen.  This coverage will usually protect the boat or personal watercraft and/ or motor whether it is in the water or on the land.

2. Liability Coverage:  This portion of coverage may pay to cover damages to another person’s boat or property if you cause an accident with your boat or watercraft.  This may also cover expenses if you injure someone not on your boat in an accident.

3. Medical Payments:  This coverage may help pay for expenses if you or your passengers are injured in an accident on your boat.

4. Uninsured Watercraft:  This coverage may help with expenses resulting if an uninsured boater collides with your boat and you or one of your passengers are injured.

It is also a good idea to review your coverages for your boat trailer, accessories, personal property and towing.  Make sure you know what your policy limits are as well as your deductibles as these are important parts of your boat policy.  Additional coverages could be available.  We recommend to discuss what you will be doing with your boat so that your insurance agent may better cover your needs.

 

Do you need boat insurance in Myrtle Beach, South Carolina?

If you own a boat then the answer is probably YES.  Before you put your beloved watercraft in the water it should at least be insured for liability.  You are responsible (liable) for damage you may cause to property or bodily harm.

Alright, you have a small Jon boat that you paid a few hundred dollars for.  If you are OK with having to replace your boat out of pocket without insurance, then you can choose not to insure it.  But if you are like many that own a boat valued as much as your car or higher, it is recommended to also carry property coverage.

 

Is boat insurance required in South Carolina?

While boat insurance is not required in South Carolina, you will find that sometimes you may still be required to carry it.  Here are a couple examples of times you can be required to have boat insurance.

• If you finance a boat, expect the bank to require an insurance policy including physical damage coverage.
• Some marinas that moor boats require the owner to have coverage.  They may even require the policy to cover environmental/pollution damage.

 

How much does boat insurance cost in Myrtle Beach and what affects the premium?

In general, boat insurance costs around $350 – $600 per year in South Carolina.  Davis Insurance Associates will shop several carriers to bring you the most affordable boat insurance in Myrtle Beach.

Of course there are several factors that can affect the premium such as:

• The operators’ age, gender, years of boating experience, driving record, and even credit rating.
• If the owner/operator is a member of a carrier approved boating organization or recently completed a boating safety course.
• The year, make, model, and value of the boat or watercraft.
• The speed or performance of the boat or watercraft.
• Where the vessel will be used, such as only inland lakes, tidal waters, or both.
• What the vessel will be used for, such as fishing, skiing, or just cruising.

*A little caution here – don’t always go for the cheapest boat insurance in Myrtle Beach.  You may feel you saved some money by getting the lowest premium you could find, but you may not get the coverage you need.  Why pay for insurance if it does not fit the protection that YOU need?  Just for an example, some policies will not cover liability for water skiing.

 

Boating requirements in South Carolina.

• All boats must have a fire-extinguisher onboard.
• All boats must be registered and titled in the owner’s name.
• Boat operators under the age of 16 (and not accompanied by an adult) must have completed a state-approved boating coarse to operate a boat with more than 15 hp.
• All boats must have wearable personal floatation devices (PFDs) available for all passengers.  Passengers under 12 are required to wear a PFD at all times.  Passengers of personal watercraft (PWCs) are also required to wear PFDs.
• Navigation lights are required to be on between official sunset and sunrise.
• Boat insurance is not required by South Carolina.

 

Helpful Links.

Insurance Information Institute – Boat Insurance and Safety

Davis Insurance Associates – Recreational Vehicle Insurance