When it comes to recreational vehicles, two popular choices for enthusiasts are boats and motorcycles!
However, these valuable vehicles are subject to risks, including accidents, theft, and natural disasters.
To safeguard against these uncertainties, owners often turn to Physical Damage Insurance.
Understanding Physical Damage Insurance
This policy, also known as comprehensive coverage, focuses on protecting your own vehicle from damage caused by collisions, theft, vandalism, or natural disasters. It is designed to repair or replace your vehicle in the event of physical damage.
On the other hand, liability coverage is a separate type of insurance that covers damages you may cause to others, their vehicles, or their property in an accident where you are at fault. Liability coverage is crucial for protecting your assets and finances in case you are legally responsible for causing injury or property damage to others.
While physical damage insurance and liability coverage are distinct, it is important to note that they are both often included in comprehensive insurance policies for vehicles, including boats and motorcycles.