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Boat Insurance

Boat Insurance Facts

A boat is a valuable asset. It makes sense to protect it by having adequate boat insurance coverage. Just like with any vehicle, you need insurance to provide financial assistance in the event of an accident. Boat accidents occur just like with any other vehicle. Your city might not require this insurance, but it is worth considering.

Concerns for Boat Owners

Boat owners have to worry about events such as leaks, hurricanes, theft, capsizing, and fires. Boat insurance coverage protects you from massive financial costs you might face following an accident with your boat. The insurance company will create a policy that confirms the agreement to help you financially in the event of a covered mishap. It might not be mandatory to get this coverage, but some lenders and banks may require a proof of coverage before they lend you money.

Boat Policies

As with any coverage, you should read the fine print before signing anything. It is important to understand the details in order to avoid any nasty surprises when you file a claim. For instance, you might think something is covered when it is not. You should be aware of the risks such as the damages related to poor maintenance that the insurance company does not cover.

Some things your policy should definitely cover include: property damage for equipment attached to the boat such as motors, masts, anchors, oars, and fuel tanks. But this likely does not cover personal property on the boat or any items damaged during a boat race. There is also limited medical payment, which provides medical coverage for non-family members injured while on the boat. And personal liability covers any lawsuit and claims after bodily injury or damage to property caused by the use of the boat.


There are options you can request for your boat insurance coverage. You can also ask about discounts. Speak with an insurance agent for more details.