Boat Insurance

Why Do You Need Boat Insurance?

The first thing that comes to my mind is that boat repairs from a loss can be very costly making boat insurance a viable option to protect your investment. Boat insurance will give you the peace of mind while you are out on the water and overall protection from the risk of owning, operating and towing your boat.

What Does Boat Insurance Cover?

  • Physical Damage Coverage- Most boat policies cover physical damage coverage to the hull, sails, machinery, furnishings, and most other equipment that is on the boat. Some of the coverages include vandalism, theft malicious mischief, or damage from collision.
  • Liability- Liability coverage will protect you for damage you may cause to another boat, personal watercraft, or even a dock. You are also protected if you cause bodily injury or death to another person while operating your boat.
  • Uninsured Coverage- This will cover costs for damage and injuries if you are in a collision with a boater that does not have boat insurance.

Important Information

  • You may purchase additional coverage for accessories such as fishing equipment and other boat related property
  • If you carry physical damage coverage on your boat owner policy (comprehensive & collision) your boat is also covered out of the water.

Many individuals think that their boat is covered under their homeowner policy. Some homeowner policies may cover small boats but you need to check your policy.