Even though boat insurance is not legally required in Oklahoma, you might be surprised to learn there are many good reasons for carrying insurance anyway. You’ll enjoy being out on the water more when you know your investment and other people are properly protected with boat insurance.
What Does Basic Boat Insurance Cover?
You have multiple options when putting together insurance for your boat. At the very least, you want to make sure these elements are protected with your policy:
- Liability for other’s medical care and property damage if you are at fault in an accident
- Uninsured boater protection if you’re injured, or your boat is damaged by someone without insurance
- Medical payments for you and your passengers
- Collision and comprehensive coverage for damage to your boat through an accident, theft, vandalism, fire, etc. (includes your trailer and attached equipment)
What If You’re a Serious Boater and Want More Protection?
If you take your boat out every weekend or for months at a time over the summer, you probably want more coverage for other possible scenarios. You can also add these types of insurance to your policy:
- Personal effects coverage for clothing, cell phones, cameras, coolers, fishing gear, etc.
- Unattached equipment protection for oars, life jackets, etc.
- Fuel spill liability and wreckage removal
- Emergency assistance in case you’re stranded and need gas, a new battery, a tow, or other help
What Kinds of Boats Can Be Insured?
Just about any kind of boat can be insured, including:
- Bass boats
- Fishing boats
- Pontoons
- Speed boats
- Paddle boats
- Sailboats
- Yachts
- Canoes
Your boat itself is insured at what’s called an agreed value. We’ll also talk about your navigational area, which is where you intend to use the boat.
How Can You Save Money on Boat Insurance?
Boat insurance is pretty reasonable, considering the amount of coverage you get for your money. To save on your boat insurance policy, follow these tips:
- Maintain a good credit score.
- Take a boat safety course and keep a clean safety record.
- Berth your boat in a safe location and store it securely in the off-season.
- Operate your boat carefully to avoid having to file a claim.
- Have your boat appraised before insuring it to avoid overestimating its value.
- Bundle your boat insurance with other types of personal insurance (car, motorcycle, home, etc.).
- Work with an independent insurance agency (learn why below).
Our Independent Agents Will Help You Find the Right Coverage
Independent agents can usually offer greater cost savings on boat insurance because they have many more products to choose from than big companies that are captive to their own limited selection. At J. K. Meadors & Co, we can customize a boat insurance policy to your needs, so you’re not paying for coverage you don’t need while still covering yourself from risk.
To enjoy our personalized service and the peace of mind that comes from knowing your boat is covered, call us at 405-377-0000 today. Ready to start a policy now? You can do it anytime online.