Do Non-Motorized Boats Need Boat/Watercraft Insurance?

If you own a boat or watercraft, it’s essential to understand the risks you face and how you can mitigate them with insurance products. Many factors influence the decision to purchase boat insurance, so let our expert team help you find the right policy for your specific needs. NCIB Group Inc., serving Chicago, IL, is ready to assist you with superior support and guidance. 

Boat/Watercraft Insurance Protection

Regardless of the type of non-motorized boat that one owns, such as a canoe, kayak, or stand-up paddleboard, there is no need for boat or watercraft insurance in most cases. Underwater crafts powered by non-motorized methods are usually considered less of a risk to a motor-powered boat; therefore, insurance is usually not a must. Nevertheless, motorboat owners are responsible for being in select individual circumstances and needs.

In some situations, for example, when there is an intention to use waterway mode (i.e., in crowded waterways) or store in a marina, insurance could provide a valuable buffer against liabilities or claims for damages. Fishing vessel owners should measure the level of the risk attached to their activities and determine whether insurance is the right way to protect the possession of their property, especially if they plan to run a charter service. Involving an insurance professional who will give the information about the different options and also be able to make a sensible choice by factoring in the individual’s needs and choices would always be a wise move. 

Learn More About Boat Insurance Near Chicago, IL

If you want to learn more about boat and watercraft insurance near Chicago, IL, we encourage you to contact us at NCIB Group Inc. and let us show you how easy it is to attain coverage. We’ll answer any questions you have and help ensure you understand your policy and its limitations. Call or stop by to speak with us today.