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Is my boat covered under my home insurance phoenix policy?

Posted on: January 9th, 2010 by admin

A common questions that individuals who have boats always ask is, is my boat covered under my home insurance phoenix policy? Or is it covered under my auto insurance phoenix policy?

This is not a yes or no question, just like most things there is different scenarios on which you would be covered and some scenarios were you would not be covered. The only insurance that will cover your boat though for just liability purposes is your homeowner’s policy and not your auto policy. Were you homeowners typically covers you liability wise for boats is when you have a boat that has a motor that is 25hp or less or for sailboats that are 26 feet or less in length. Now what if you borrow your neighbor’s boat or if you are on vacation and decide to rent a boat? If you are lucky enough to have a neighbor let you borrow his boat then under this scenario your home insurance phoenix policy will carry its liability limits with you assuming the borrowed boat has an inboard/outboard motor that is 50hp or less. For the vacationers who decide to rent a boat, you again would typically be covered under you homeowners policy if the boat had an inboard/outboard motor that was 50hp or less or for sailboats under 26 feet in length. Is damage that is incurred to the boat covered? Typically the coverage for damage on boats under you homeowners policy will cover up t $1,500 worth of damage but the coverage is pretty flimsy. Usually it will not cover hazards such as collisions, sinking or hitting submerged rocks. In addition there is no wind coverage unless the boat is stored inside a building and no theft coverage away from your home.  

Overall remember to discuss with your agent your situation, whether it pertains to owning a boat, going on vacation and renting a boat or borrowing a boat. He or she will be able to let you know what is specifically covered under you home insurance phoenix policy and what is not. Hopefully this will give you a good starting point!

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