Boat Insurance (what you need to know)


Summer and the sea go together like salt and pepper, and boating is by far one of the best ways to enjoy this winning combination. To get the most out of your summer boating experiences you’ll want to make sure your vessel is clean, properly equipped and in good mechanical condition, waxed and sealed and, last but not least, insured. Boat insurance protects not just your boat, but also you and everyone else you take out onto the water. Yes– you’re not just making sure all the time and money you spent on your boat doesn’t go to waste. You’re also protecting your friends and family, and with the average boat costing a dollar or less a day to insure, this is more than worth the price.

Of course, like all forms of insurance there are different coverage amounts to choose from. We are more than happy to talk with you in detail about your boat insurance options, but in the meantime you should consider the following to get a better idea of what you’re looking for:

Liability and Medical Coverage

Never underestimate the importance of liability coverage in a policy. This will cover you in the event of an accident that is your fault or in other situations where you may cause damage. You will also want to make sure your policy had medical coverage, in case you or any passengers are injured (regardless of who is at fault). You should also consider the fact that many other boaters may not have insurance, in which case it is wise to also get Uninsured / Under-insured Watercraft Bodily Injury coverage to protect yourself in case one of them is at fault.

Agreed Boat Value and Personal Effects

Just like cars, the value of a boat generally goes down with time (though of course various other elements factor in, like equipment updates, maintenance, etc.) If you get a cash value policy, it can therefore be difficult to replace the entire boat. If your boat is lost, stolen or destroyed, you’ll get the amount you insured it for, minus any deductible of course. Likewise, if you are storing any valuable personal effects on board you’ll also want to make sure these are covered as this will not be included in the agreed boat value. Getting additional Unattached Equipment Coverage will also cover any related boating items (safety equipment, water skis, oars etc.) that are not necessarily attached to your boat.

Emergency Assistance

Just as it suggests, this covers any necessary emergency assistance services (towing, gas delivery, etc.).

Wreckage Removal / Fuel Spill Cleanup

In the event that your boat is wrecked, you are responsible for its cleanup. And yes, this includes any fuel spills that may have occurred. Such cleanup can be very costly in addition to time consuming, so it is wise to make sure your boat insurance covers this as well.

Boating Area / Navigational Range

Where do you plan on taking your boat? How far out into the ocean will you go? Most insurance policies do not automatically guarantee you’ll be covered everywhere on the water, so make sure yours covers wherever you plan on going (you can always add additional coverage later).

Contact us today to learn more.