Boat Insurance West Linn, OR
If you are a boat owner in West Linn, OR, you undoubtedly want insurance that will come to the rescue if you have damage or theft. At Schmidt Insurance Group, our knowledgeable agents know their Schmidt and can help you find a boat insurance policy that meets your needs!
Schmidt Insurance Group opened its doors in 2019 in an effort to make insurance easy while providing exceptional customer service. We proudly serve the local Portland area as well as the entire states of Oregon and Washington. Whether you have a ski boat, sailboat, fishing boat, or jet ski, we can provide you with great insurance coverage.
Schmidt Insurance Group Guide to Boat Insurance
Is Boat Insurance Required in Oregon or Washington State?
There is currently no law that requires Oregon or Washington boat owners to carry boat insurance, but that doesn’t mean you don’t need it.
- You may not be able to get a loan on your boat without providing the bank with proof of insurance that covers the full value of the boat in the event of a loss.
- Many marinas require proof of at least $500,000 of liability protection before they will rent you a slip or a mooring space, and some will want to be listed as an additional insured on the policy.
What Does Boat Insurance Cover?
Boat insurance policies protect your motorized watercraft, ranging from fishing boats to speedboats to luxury yachts, from damage, as well as from damage you may cause to others while boating. They typically include the following:
- Collision damage: Regardless of fault, collision coverage typically covers damage to your boat if you collide with other watercraft or objects (docks, pilings, other boats, rocks, and other marine debris, even if submerged), or if your boat capsizes. The policy may not include clean-up of wreckage, however, unless you purchase optional additional coverage.
- Comprehensive: This coverage can protect you from non-collision damage to your boat caused by events beyond your control, such as theft, vandalism, explosions, falling trees, hurricanes, lightning, or fire.
- Property damage liability: This type of coverage can help you pay for damage you cause to someone else’s boat, dock, or other property.
- Bodily injury liability: This type of coverage can help you pay for injuries you cause to your passengers or other boaters and their passengers when using your boat; and includes medical bills, lost income, pain and suffering, and legal fees.
Do You Need Boat Insurance in the Winter?
When you are enjoying time on the water or transporting your boat, you should have insurance coverage. But, what about during the off-season when you’re less likely to be using the boat? Should you terminate the insurance policy for the winter?
Although it may seem unnecessary, here are some excellent reasons to carry boat insurance all year long:
- Natural disasters don’t have an off-season. Harsh winter storms can do more damage to your boat than you may think, and having boat insurance could save you many thousands of dollars.
- Fire, theft and vandalism are year-round risks. In fact, they’re more likely to occur during the winter when marinas and boatyards may be unattended.
- If you financed your boat instead of paying cash for it, your lender may require you to maintain boat insurance year-round.
Stop by today and introduce yourself, or reach out to us at (503) 206-0881 for more information about boat insurance in West Linn, OR. We are ready to help you find the coverage you need.
