Need of Watercraft Insurance in Virginia

by George Willis Insurance Agency

Are you living in Fredericksburg, VA? When you stay in this area you will enjoy the months of warm to sunny weather. And to enjoy it, considering a boat is an ideal option for you. If you are a boat owner then you will have a lot of fun. But, you should also remember that it is an important asset that needs proper insurance.

 

If you are one of those who wish to buy and operate a watercraft in Fredericksburg VA then you should know about the specific law established by the Department of Motor Vehicles that need to be met before getting it. According to the law, driver age should be over 14 years old and have complete boating education requirements. Also, they should have proof of the proper insurance coverage to cover the damages in the case of an accident. If you are also looking for Watercraft Insurance in Virginia then Insurance Piggy Bank can help you.

 

Insurance requirements in local areas

You may require boat insurance because it could be a local requirement. In every area, the insurance rules are different for waterways and marines. The local areas need that you should carry boat insurance which shows you are capable to pay for any damages that you could cause. Also, it takes the cover for local marines as you will have coverage for your boat and assets.

 

Lenders require insurance

You will need to get the boat insurance if your lenders could require it. If you have purchased a boat on loan then there will be some specific insurance rules in your loan agreement. The boat insurance rules are specially for helping you to protect your lender’s collateral. If you do not have a coverage plan then it could put you in violation of your loan agreement.

 

According to Virginia state law, boat insurance is not mandated for the owner but state registration of the vessel alongside a boating safety course is needed. In some cases, those who have taken a boat loan need to show proof of insurance to the lender as a part of purchasing requirement.

 

Home insurance coverage

In some cases, your homeowner’s insurance may be partially covering your watercraft in the residential indemnity plan section. But, it is not advisable to trust this category of insurance for damage payment in the event of an accident. Owners also need to pay for the remaining cost of medical bills for property damage, injury, and repair cost.

 

Yacht Insurance

 

Watercraft is defined as a water vehicle that ranges from 16 to 26 feet which is a standard size and can be insured by using traditional liability limit. For yacht, the boat size exceeds 26 feet and additional yacht insurance is required.

 

There are many insurance companies which offer insurance policies in Virginia but it is always recommended to research well before choose any company. When it comes to watercraft insurance in Virginia, you should approach a trusted company like Insurance Piggy Bank. It is one of the reliable companies that can assure to get the best insurance coverage for you watercraft insurance as well as give complete details about policies. They will answer all your queries and help in finding the best plan that works best for your budget.

 

Insurance Piggy Bank provide its services in different areas including Virginia, Maryland, Delaware, Pennsylvania, Ohio, Texas, North Carolina and Rhode Island. Taking care of their clients is the first priority of the Insurance Piggy Bank and they have received huge applause from their clients for serving the best services.  You can call their agent today or get free quote online.

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Created on Jun 10th 2021 00:28. Viewed 376 times.

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