As with most states, boat or watercraft insurance is not required in the state of South Carolina. However, if your boat has been used as collateral for a loan, the bank will likely need you to get it insured. Also, individual marinas and harbors will require insurance for boats if they are docked at their facilities. In any case, you should get insurance on your boat, especially if it represents a significant investment. As careful as you may be at the helm of your boat, accidents do happen, and it is best to be prepared. Boat repairs and medical costs that result from an accident are not cheap, and having insurance will give you peace of mind.
Boat insurance generally can cover liability, uninsured liability, damage to your boat, and medical expenses.
Liability insurance, as a rule, will cover damage to bodily and property damage caused by a boating accident that you have been found at fault for.
Uninsured liability insurance will help to pay expenses that result from an accident with an uninsured boat.
Boat insurance pays for damages that your boat could incur as the consequence of an accident. Collision insurance will pay for damages that result from a crash. Comprehensive insurance will also pay for damages inflicted by events other than a collision, say by a fire. Some boaters will also buy insurance that will pay for towing if they break down while on the water.
Medical insurance will pay for any bodily injuries that you or your passengers suffer as the result of a boating accident. You should check your health insurance which may be adequate to cover this kind of situation.
Boat or Watercraft insurance is relatively inexpensive, depending on the type, size, and age of your boat. Boat insurance can be retrofitted to suit your needs.
Contact the Grayson Thomas Agency for more information at (864) 289-9898.