Do I Need Boat Insurance in Iowa?

Owning a boat in Iowa is a popular pastime. It is not surprising given the fact that Iowa has 65 lakes, 71, 665 miles of rivers and streams and in excess of 110,000 ponds. Boaters have plenty of opportunities to enjoy the great outdoors with boats of all sizes.  While there are many laws and regulations to learn as a boater, there is no law requiring that you carry boat insurance. But just because there is no law requiring it doesn’t mean that having it is not a good idea. At Aussie Agencies in Knoxville IA  we would be happy to sit down with you to discuss the reasons why boat insurance can be beneficial to you.

Purchasing a boat is a major investment. Depending on the size and style of boat it can be a very large investment. If you have a boat loan, chances are that you will be required to carry insurance to protect the lender’s investment. While that will protect the boat what about you and any liability that could result from a boating accident? In the world that we live in today where suing is a national pastime, protecting yourself against the possibility of being sued with liability insurance is important.

Liability insurance can also protect you against damage that is done to property. This can be another boat or something stationary like a dock. As you can see, boat insurance offers a variety of important protections. Having collision and comprehensive coverage even after your loan is paid off will help you to repair or replace your boat if it is damaged or stolen. 

If you are ready to sit down and discuss the benefit of having boat insurance at the Aussie Agencies in Knoxville IA we are looking forward to being able to share the benefit of our years of experience. Stop by or give us a call to make an appointment to discuss your needs.