Homeowners’ insurance can cover damage to your property, including your home and its contents, within certain limits. This coverage often extends to other items on your property, but does home insurance cover boats on the property?

Covered Events

Many policies cover certain items on the property, such as automobiles and boats, if the damage is from a covered event in Burlington, NC. For example, if the boat is damaged in a tornado, but your policy specifically excludes tornadoes, it won’t cover the damage to the boat.

Specific Exclusions

Many policies at Don Allred Insurance cover various items on your property, such as boats or outdoor furniture. However, others specifically exclude items that can have separate insurance. Insurance companies may exclude boats and recommend that homeowners obtain boat insurance instead.

Coverage Limitations

Although some policies will cover boats damaged on the property, there are almost always coverage limits to consider. Most insurance companies will use 10% of the home’s value as a maximum coverage amount for items like boats. This may be enough to replace a small boat, but it won’t cover larger vessels.

What are my Home Insurance Options in North Carolina?

Standard homeowners’ insurance won’t help replace a large boat. However, insurance companies may offer boat insurance so you can park your yacht in a nearby marina. They may offer additional coverage to ensure you have tranquility. Many companies will work with you to help you get the coverage you need.

We understand the importance of protecting your boat and your finances. Experienced agents at Don Allred Insurance can help you get the coverage you need. Contact us to schedule an appointment today. We’re currently serving the Burlington, NC area.