What is watercraft insurance?
Watercraft insurance can help protect you from costs related to boating accidents and other types of losses, such as the theft of your watercraft, motor, trailer and/or covered accessories. Your watercraft insurance policy is a contract for which you pay a certain amount, known as a premium, to your insurance carrier in exchange for the coverages you select. Types of coverages available are bodily injury and property damage liability, medical payments, uninsured/underinsured motorist and physical damage (collision & comprehensive) coverages.
All watercraft policies will include bodily injury and property damage liability coverages, but you have the option to purchase more coverages and decide how much of each you want to purchase. If you purchase physical damage coverages, you can also add on additional coverages, called endorsements. Typical endorsements include coverage for emergency roadside and on-water assistance and more. Each coverage is explained below:
Why would I need boat insurance in Oklahoma?
If you’re involved in a boating accident, you may have to pay expenses for repairs, medical bills, lost wages and more. Without the coverages you need, you could have to pay those bills out of your own pocket. Oklahoma is an “at-fault” state, which means that the boater deemed responsible for a crash is responsible for all damages. Watercraft insurance can help cover those expenses, which could protect you from financial ruin.
How can I get the best watercraft insurance and lowest premiums in Oklahoma?
There are many factors that determine an insured’s premium rate. Some factors are out of our control, such as our age, the economy, cost of building materials and all of the insurance claims being filed in the region. However, some of our life decisions can make an impact on our insurance premiums, such as our credit rating, driving record and recent insurance claims. Below are a list of several ways you can get the best rates in Oklahoma:
- Shopping multiple insurance carriers at once with an independent insurance agency like Scherer Insurance
- Having good credit history
- Having a good driving record
- Having a good boating record
- No recent insurance claims
- Having a college degree
- Being married
- 3+ years at your residence
- 3+ years at your workplace
- 3+ years with your current insurance carrier
- 3+ years with continuous insurance coverage
- Located in a low-crime ZIP code
- Not using your watercraft for business, delivery or transportation network
- Companion “bundling” policies such as your home, auto & watercraft policies with the same carrier
- Opting for a higher deductible
- Owning your home instead of financing or renting
- Owning your car instead of financing
- Owning your watercraft instead of financing
- Being the original owner
- Paying your premium in full
- Paying via EFT payments as opposed to mailing checks
- Retired or a senior citizen
- Taking safety courses
- Anti-theft devices
- Protective devices
- Declining collision or comprehensive coverage for older, high-hour watercraft that may not be worth repairing
- Storing your watercraft when not in use
- and many more
When you request a quote from Scherer Insurance, you can be confident that every possible credit and discount will be requested.
How can I buy boat insurance in Oklahoma?
There are three easy ways to get a quote or request more information for watercraft insurance.
- Call/Text (405) 605-9891
- Email jp@schererinsurance.com
- Fill out the convenient online form below. You will be contacted shortly after it is received.