North Carolina Boat Insurance and North Carolina Yacht Insurance are not standardized policies like the North Carolina Auto Insurance and the North Carolina Home Insurance Policies. Individual Carriers that provide NC Boat Insurance and NC Yacht Insurance will have variations within their Insurance Contracts, so you must thoroughly examine the actual coverages each carrier offers. The main coverages that are usually provided for both NC Boat Insurance and NC Yacht Insurance Policies are physical damage, liability, and medical payments.
Physical Damage Coverage typically allows for the repair or replacement of your boat if it is damaged or destroyed by fire, theft, lightning, vandalism, collision or windstorm. The items normally covered include the boat itself, inboard and outboard motors, the boat’s trailer, and may include some personal property kept on the boat. There are exclusions to covered property with respect to certain personal property items (such as fishing equipment), so please ask your agent about specific personal effects coverage.
Liability Coverage will pay for bodily injury and property damage for which any covered individual becomes legally responsible.
Medical Payments Coverage pays for the reasonable and necessary medical and funeral expenses due to a boating accident. The limit is normally $1,000 per person, but may be increased for an additional premium.