Is My Kayak Covered By My Insurance?
Summer is full of enjoying the summer sun, and even floating on the water in a kayak. But accidents can happen and be very costly. Before you take to the water, make sure your kayaks and/or canoes are completely insured for peace of mind. Don’t always assume that your existing insurance coverage covers your kayak.
Below we’ve given you the rundown on what you need to know about insuring your kayak/canoes.
Your homeowners insurance MAY cover your kayak.
A standard homeowners insurance policy will cover watercraft and accessories valued under $1,500 and under 25 feet. This would include items such as kayaks, canoes, row boats, and even a small sailboat. Keep in mind, however, that this limit includes accessories too, such as life jackets, paddles, and other equipment. This coverage customarily falls under your contents coverage. List your item(s) on your home inventory to ensure your kayak or other watercraft is covered. Also, discuss with your Hertvik Insurance agent the coverage you will need for such item.
Are you wondering if your homeowners insurance policy covers your kayak? Call us at (330) 723-9320 to review your policy and add it to your policy as a scheduled item.
If your kayak is covered under your homeowners policy, that also usually includes coverage wherever you bring it. For example, your kayak is covered for perils that happen at home, in transit, while on vacation, or when on the water. Some carriers will exclude some areas of locations, such as international waters or a dangerous body of water.
An example of a peril usually covered by your homeowners insurance policy:
- Theft
- Fire
- Lightening
- Explosion
- Physical damage
An expensive kayak will require a rider.
If your kayak or canoe (including accessories) totals up to more than $1,500, your Hertvik Insurance agent will usually require a ‘rider’ for supplemental coverage. In other words, you’ll need to itemize it on a separate supplemental policy. This will cost a small premium, in addition to your homeowners contents coverage.
In these instances, the coverage is typically ‘value based.’ Meaning the policyholder (you) and your insurance carrier will determine the appropriate total value of the kayak and accessories. You include receipts of purchase, and the insurance carrier might do an appraisal. In the event of a claim, you would be paid out that agreed-upon cost. This is a similar process to other limit-based valuables, such as jewelry.
Kayaks are an increased liability.
Did you know that YOU are responsible for any damages or injuries caused by your kayak? For example, if you let a friend borrow your kayak and they get injured, YOU are the one held liable and responsible for their damages.
Accidents can happen, even in a small watercraft. You might accidentally run into another watercraft, causing dents that let water in and can even sink both boats. Or you could collide with another kayaker, causing them to capsize and break their arm.
Your homeowners insurance typically won’t cover kayak-related liability. In rare cases, a boat insurance policy might cover kayak liability but only if agreed upon with your insurance carrier.
The Bottom Line
While kayaking may not seem like a hazard, one small incident can ruin your summer plans. If it is stolen, damaged, sinks, or damages another party, you could be paying some large out-of-pocket expenses if you don’t know how your insurance coverage includes your kayak.
Lucky for you, insuring your kayak is as easy as a simple phone call or email to your Hertvik Insurance Agent. Call us so you are protected on and off the water.