Boat Insurance
If you are the owner or operate a boat or other marine craft, marine insurance can protect your craft and its occupants from loss, damage, theft, or injury. Also, any costs you may owe to other individuals or property as a result of an accident.
Boat or marine craft insurance typically includes basic coverage for wreckage or loss, with a variety of alternatives available. There are specialized boat insurers and brokers who can provide coverage for common insurance risks and activities for boat owners.
Boats and other maritime crafts can be expensive investments. In layman's terms, they can be quite costly (simply making the purchase can be a hassle if your revenue isn't consistent). Accidents sometimes happen, and you may have to pay a big financial loss as a result. For most boat owners, marine insurance is a must.
As the entire sum insured for the boat and equipment, marine insurance policies will determine either an agreed value or a market value. This is comparable to automobile insurance.