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“Kevin is the ultimate professional and has not only saved us money with our insurance policies, but also got us better coverage. Everyone I refer to him tells me the same thing. What more could you ask for?”
-Tom T.
Boat and watercraft insurance covers motorboats, sailboats, and personal watercraft. It can include:
Physical damage due to a collision or striking a submerged object
Uninsured watercraft
Agreed value option
Personal effects
Additional boat equipment (anchors, life jackets, etc.)
Boat trailer
Repair cost for boat, motor, boat equipment or trailer
Emergency services
Theft
Fire
Vandalism
Windstorm
Lightning
Medical payment for owner, their family or other passengers
Homeowners insurance usually includes limited coverage for boats. The most it will offer is $1,000 if your boat is damaged while at your house.
Boat insurance is very similar to Car Insurance and includes property damage liability, bodily Injury liability, unisured/underinsured boaters coverage, medical payments coverage, and physical damage coverage.
Yes, boats are watercraft and therefore may have specialized coverages that can be added, including:
Most insurance companies cover small fishing boats, speedboats, sailboats, canoes, and houseboats. Some boats need companies that specialize in boat insurance. These would include boats that travel beyond 75-125 nautical miles or boats that are used for business or commercial purposes.
Many states require a minimum amount of liability insurance on your boat. And if you have a boat loan, your lender probably requires you to carry insurance for the boat itself. Additionally, many marinas and yacht clubs won’t allow you to dock your boat unless you’re insured. The bottom line is that a boat is an investment worth insuring.
