Does Boat Insurance Cover Sinking Ships?
Yes, boat insurance typically covers sinking. Boat insurance policies commonly include sinking as a covered peril and may also provide coverage for salvage and removal costs.
In addition, risks such as fire, theft, storms, and vandalism often receive coverage, provided the boat owner has a comprehensive or full boat insurance policy.
Insurance policies and their exclusions can vary depending on the insurer and the specific policy. However, there are some common exclusions that every boat owner should be aware of, including:
Named Storms
Geographic Exclusions
Calendar Exclusions
Acts of War and Terrorism
Reviewing the insurance policy in detail is essential to understand the specific exclusions and coverage provided.
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