Do Homeowners Insurance Policies Cover Damage to Boats Caused by Hurricanes?

A widespread misconception is that one's homeowner's insurance policy will provide coverage for their boat in the event of an accident. This includes any damage that a hurricane may cause at some point in the future. However, insurance for your boat, like an insurance for your automobile, is separate from insurance for your home. You cannot expect your boat to be covered by your homeowner's insurance policy in the same way that you would not expect your car to be protected in the event of an accident or if it were stolen.

Therefore, if you are looking at other options for insurance, you shouldn't automatically assume that your existing plans will cover you. Be aware that you will require separate coverage for your boat and that your plan will need to cover damage to the vessel caused by physical means. Otherwise, you risk being placed in a financially unstable position.

Do Repairs Get Covered Under Boat Insurance?

When purchasing insurance, you should assume it will cover any damage and problems. There are times when this is not the case. You must become familiar with your policy to understand the exclusions and exceptions provisions. In this context, boat insurance is not dissimilar to other types of insurance. You and your agent will need to discuss precisely what aspects of the policy are covered and which are not.

For instance, if your boat sustains damage to some parts but not others, the damage to those parts may be covered for repairs, but the other parts may not be. In most cases, the hull or body of the boat, in addition to the motor and other components, is protected by a cover. You should not assume that whatever is broken on your yacht will be automatically covered and eligible for repairs under your purchased policy.