Watercraft Insurance to fit your budget & needs
What Is Boat Insurance?
Boat insurance covers damage to your boat, motor, trailer, and personal items in the boat. It protects the boat owner against liability lawsuits and medical payments. Boat insurance protects most watercrafts with engines including small fishing boats, powerboats, houseboats, yachts, and pontoons.
It's important to note that your boat is not covered by homeowners insurance.
What Does Boat Insurance Cover?
The boat insurance coverage includes:
Additional coverage options
Boat insurance provides a significant amount of protection and each form of coverage adds protection in certain scenarios.
There are all sorts of add-on coverage that you can include on a boat insurance policy.
Add-on boat insurance cover options include:
Why do I need Boat Insurance?
There is nothing quite as relaxing as boating.
Boating can be a great summer activity, especially for people who live near lakes, rivers, and reservoirs.
Because of the many dangers that are exposed around water, it is important for boat owners to make sure they are covered, when the unexpected happens.
Let us help you keep worry free, so that you are able to relax and enjoy the water, knowing you are well protected.
We have access to several products, enabling us to help you find the best coverage for you, with your specific needs in mind.
Here are just a few of the types of watercrafts that we can help provide coverage for: Small Boats, House Boats, Yachts, Mega Yachts, and Many More.
Let us help you give you peace of mind knowing your investment is well protected.
Please contact our agency today for a no obligation review of your insurance needs.
Do you need Boat Owners insurance?
Boating property is a substantial investment and boatowners coverage is an efficient, affordable way to guard against accidental losses. Our agency can help you find the coverage you need. Contact us at your earliest convenience.
The insurance approach for covering boats and boating property is quite like what is used to protect cars and homes. Essentially insurance is offered on a package basis, meaning that there is coverage for physical property as well as protection against the legal and financial consequences of injuring others or damaging property that belongs to others.
Property Coverage - Typically a boatowners policy covers:
Boats - Refers to property designed to travel on water and includes sails, its permanent equipment, spars, and fittings.
Boating Equipment - Includes a wide variety of property that is used in conjunction with boats, and it includes accessories. Items considered as equipment are property used for communication (radios), navigation, sonar, radar, outboard motors, dinghies, skis, and sports equipment (recreational flotation devices) that are towed by boats and similar property. As a rule of thumb, the more related an item is to the ownership and use of a boat, the greater the justification to classify it as boating equipment.
Boat Trailers - Trailers used (and designed) for transporting boats (as defined by the policy).
This property must be owned by the person who is named as the policyholder. There are limited instances when such property that is temporarily in the policyholder’s possession also qualifies for coverage.
Items and situations that aren’t covered include boating property that is used in business activity, losses that involve races or competitions (an exception is made for sailboats) and boats that are used, full-time, as residences.
Liability Coverage - Besides protecting boating property, a boatowners policy also responds to claims or lawsuits caused when another person is injured, and /or when another person’s property is damaged or destroyed.
An example would be a collision where the owner of a large speedboat collides with a person on a jet ski, seriously injuring the rider and demolishing the jet ski. The policy would handle both portions of such a loss. The liability portion would also provide a legal defense against lawsuits.
Another important coverage under the liability section is medical payments. This provides reimbursement for, typically, emergency, or immediate medical treatment expense. Consider a person who slips on a boat deck and needs transportation to an emergency for treatment of a broken bone or concussion. Such costs would qualify under medical payments.
As is the case with property coverage, there are liability situations that are NOT covered by a boatowners policy, including losses that involve business activity, transmission of communicable disease, unauthorized operation of boating property, intentional acts, and criminal activity.
What to consider when buying a Boat
Family on Boat
The wind in your hair, the sun on your face, and the open water in front of you. Sound appealing? Then you might want to join the ranks of boat owners all over the country. But before you cut through that clear blue, there are some things to keep in mind. Whether you're buying a fishing boat, cabin cruiser, pontoon or speed boat, different components like cost, horsepower, weight capacity or onboard storage may prove to be more important to you than others.
Answer these questions before going boat shopping:
What are you hoping to use your boat for? All boat styles have a different design tailored to the use. Speed boats may be better for tubing and water skiing but wouldn't hold as many people or be as fish accessible as a pontoon or fishing boat. Maybe you're in the market for a sailboat or leaning towards a houseboat. There are so many different varieties of boats, so make an informed decision on which one is right for you.
What's your budget? This may help decide whether to purchase a pre-owned boat. New boats depreciate anywhere between 25%-33% immediately after leaving the dealer's lot. So, if you buy a pre-owned boat, someone else has already paid that depreciation cost - more boat for fewer dollars! However, buying a new boat will offer a warranty, the newest technology, and that nice shiny look as you move across the water - the choice is up to you!
How many people are you hoping to go on your boating excursions with? The capacity on personal fishing boats is generally smaller than a pontoon boat, which are made to hold anywhere between 8-15 adults comfortably.
What type of equipment will you want onboard? Here's some suggestions:
• Trolling Motor
• Depth finder
• Live well
• Emergency survival kit
• Fire extinguisher
Will your car be able to tow the new boat? According to Auto Bytel, the average 21-foot boat trailer weighs between 500 and 1,000 pounds, while most boats in this size range hover in the 4,000-5,000-pound range. This means that you'll want an SUV or truck that is rated to tow between 4,500-6,000 pounds in total.
Will your new boat fit in your garage during the off season? Alongside your garage? In a separate storage space?
And a few other components to consider...
• Engine Type
• Hull (Deep V, Modified V, Pontoon, etc.)
• Storage Onboard
Insuring your dream boat should be at the top of your list. Homeowner’s policies have limited coverage and several exclusions, so make plans to check with our agency for a no-obligation consultation on your specific needs.