Does Boat Insurance Cover Retrieval Costs After A Sinking?

At ALLConnecticut Insurance, we have seen too many of our customers fail to understand proper boating insurance. As a result, their boat sank and they were unable to get it out of the water. Thankfully, West Hartford, CT residents can get coverage that avoids this situation.

Salvage May Be Covered

When a boat sinks for whatever reason, many boat policies will help to pay for salvaging and removing the boat from the water. Some may even help to fix it up and get it back to normal. However, some policies may limit what they pay for salvage, covering only 25-50 percent. It all depends on your state and the type of policy that you purchase.

Even Wreck Removal Can Be Covered

In severe weather instances, such as hurricanes, fire, and explosions, your insurance company will often cover some of the cost of removal. However, some basic policies may only cover up to 10 percent of the value of the boat and leave you to cover the rest of the cost. However, more generous policies can help make it easier for you to remove your boat after a serious wreck.

When A Policy Will Fail To Pay

If your insurance company believes that consequential damage caused your boat to sink, there is a chance that they may not pay any of your retrieval costs. This occurs if they believe that the boat sank due to normal wear and tear. Thankfully, it is possible to purchase an extra type of coverage known as “consequential damage” that will help get your boat out of the water after it sinks.

Staying Afloat With Boating Insurance

Call us at ALLConnecticut Insurance if your West Hartford, CT boat needs high-quality boating insurance. We will take the steps necessary to protect your boat and keep it from dangerous sinking situations.