Watercraft and Boat Insurance: If you are an avid watercraft enthusiast with lots of fun stuff in your garage, it is highly suggested to have insurance on all your fun little water toys. Some assume that your watercraft/boat is covered under your homeowners insurance; generally they are not, however. If you get a policy it will more than likely cover you, your spouse, and any other household member that has permission to ride the watercraft/boat. The policy will usually pay for bodily injury or other property damages caused by the craft. You can always add other various coverages including medical payments, physical damage, uninsured boater and personal effects (cameras, binoculars, clothing, etc.)
Every policyholder needs umbrella insurance without a doubt. Homeowners, auto and watercraft polices have a limit on liability insurance. If an unfortunate occurrence happens that is your fault, does your current policy have enough liability insurance to cover your costs for negligence? No one can ever predict how much the judge will award the injured person, so umbrella insurance is no longer just for the wealthy, but for all policyholders.
Umbrella insurance has been designed to give an added liability protection that goes above and beyond the limits that are on homeowners, auto and watercraft personal insurance policies. With this policy, and depending on the insurance company, you could have an additional 1-5 million more to your liability protection. This protection was created to kick-in when the liability protection on your other policies has been exhausted to all limits.