Hitting the lake this summer? Check into boat owners’ insurance

As the thermometer inches upward and summer nears, many families will be itching to launch their boat in the water.

Perhaps families will want to take their boat to the beach for a fishing trip, go to the lake to get in some skiing or just enjoy some time on personal watercraft. Wherever you take your boat and whatever activity you choose, you'll want to make sure to protect the investment you've made in your boat.

Insurance policies for watercraft are commonly referred to as boat owners' policies and yacht policies. Boat owners' policies are typically used to cover smaller watercraft, usually less than 26 feet long. Yacht policies are generally used to cover larger, more expensive watercraft.

Limited coverage for watercraft may also be available under a homeowners' policy. It's important to check with your insurance agent to make sure you understand what is and is not covered under your policy.

Boat owners' policies are not standardized like the automobile and homeowners' insurance policies are in North Carolina. Each policy can be different, so it's important to read your policy to make sure you understand and are satisfied with your coverages.

Typically, boat owners' policies cover physical damage to your boat if it is damaged or destroyed by fire, theft, lightning, vandalism, collision or windstorm, including damage from hurricanes and tornadoes.

Covered items include the boat itself, motors, the boat's trailer and may include some personal property kept aboard the boat. However, your personal effects, such as items not used in the normal operation of your boat and not permanently attached, are generally not covered. Some insurance companies offer separate coverage, requiring an additional premium, for fishing equipment, cell phones and computers that you use aboard the boat.

Boat owners' policies also generally provide liability coverage and medical payments, with certain limitations. Again, it's important to read your policy carefully and discuss any concerns you have with your insurance agent.

Here are some tips to consider when shopping for boat owners' insurance:

You can lower your insurance premium by increasing your deductible. In doing this, consider how much of a loss you can afford to absorb if you have a claim.Keep your coverage current. Check with your agent at least once a year to make sure your policy provides adequate coverage.All newly acquired boats should be promptly reported to your insurance representative.Shop around.

If you have any questions, you may contact a consumer specialist at the Department of Insurance by calling 855-408-1212.

Have a safe and enjoyable summer.