Boat & Watercraft Insurance
Protection On The Water
Time Spent On The Water Should Be Relaxed And Worry-Free
Let us help you find boat insurance options. A boat insurance policy may protect policyholders, their friends/family, their watercraft, and their boating equipment.
Common Types Of Coverage
What You Need To Know
Navigational Area
Know where you are covered in the water. Some companies offer protection that covers you up to 75 miles from the U.S. coastline; into Canadian coastal or inland waters; and into the Pacific coastal waters of Mexico.
Liability
Like car insurance, personal liability coverage provides coverage to other boaters and boat owners in the event you are at fault for an accident on the water. This coverage will pay to repair or replace the property of someone else as well as for their medical care, lost wages and other costs incurred as a result of a boating accident for which you are at fault.
Medical Payments
Medical payments coverage will pay for the cost of needed care that is the result of a boating accident. This coverage is typically available from $500 to $10,000 and covers you, your passengers, and even your water skiers/tubers, regardless of who is at fault.
Personal Effects / Fishing Equipment
Your policy can provide coverage for many personal effects, including clothing, jewelry, cell phones, scuba/snorkeling and other sporting and fishing equipment.
Fuel Spill Liability and Wreckage Removal
Should your boat sink or be seriously damaged, there is a chance that it could leak oil or fuel into the water. As the boat’s owner you are required by law to have this cleaned up, which can be time consuming and expensive. This coverage would help in such situations.
Agreed Value and Replacement Cost Coverage
Boats depreciate just like automobiles. Actual cash value policies can make it difficult to replace a boat that’s been stolen or destroyed. Agreed value means that if your boat is a total loss, you will get the value you insured it for, minus any deductible. Replacement Cost Coverage may be available for your brand new boat. This would replace your boat with a new current model-year boat in the event of a total loss.
Physical Damage Coverage
Physical damage coverage pays for the cost to repair or replace your watercraft, its motor, any permanently attached equipment, and your trailer if it is stolen or damaged.
Unattached Equipment Coverage
This pays to repair or replace equipment that isn’t permanently attached to your boat or personal watercraft but is designed for use primarily on a boat. This includes items like lifesaving equipment, water skis, anchors, oars, fire extinguishers, tarps, etc.
Uninsured/Underinsured Watercraft Bodily Injury
Since boat coverage is not always mandatory, many boaters choose not to get insurance. If you are hit by an uninsured or underinsured boater and are injured, this type of coverage pays for medical treatment, lost wages, and other costs associated with the accident.
Emergency Assistance
The Emergency Assistance Package provides coverage for towing, labor, and delivery of gas, oil or loaned battery if the watercraft is disabled while on the water. It is like Roadside Assistance while on the water.
What People Are Saying
FAQ
What does boat insurance cover?
A boat insurance policy can cover physical damage to the watercraft and motor, liability for accidents you cause on the water, medical payments for passengers, personal effects and fishing equipment, emergency towing assistance, and fuel spill cleanup costs.
What is the difference between agreed value and actual cash value for boat insurance?
Actual cash value pays you the boat’s depreciated worth at the time of a loss, which can make it difficult to replace the boat outright. Agreed value means that if the boat is a total loss, you receive the full amount you insured it for, minus your deductible. Replacement cost coverage may be available for newer boat model years.
Does boat insurance cover my passengers?
Yes. Medical payments coverage typically covers you, your passengers, and even water skiers or tubers regardless of who is at fault in an accident. Coverage limits generally range from $500 to $10,000.
Am I covered if an uninsured boater hits me?
Yes, if you carry uninsured/underinsured watercraft bodily injury coverage. Physical damage to your boat would require physical damage coverage. Since boat insurance isn’t always mandatory, many boaters go without it. This coverage pays for your medical treatment, lost wages, and other costs if you’re injured by someone without insurance.
What is fuel spill liability coverage on a boat policy?
If your boat sinks or is seriously damaged and leaks fuel or oil into the water, you are legally required to pay for the cleanup. Fuel spill liability coverage helps cover those costs, which can be significant. Be sure to check your boat policy to determine if you have this coverage included.
What personal belongings are covered under a boat policy?
Boat policies may cover personal effects including life preservers, anchors, oars and sporting or fishing equipment that you bring on board. This coverage may be increased by endorsement.
What is the emergency assistance package for boats?
Similar to roadside assistance for cars, the emergency assistance package covers towing, labor, and delivery of gas, oil, or a loaned battery if your watercraft is disabled on the water.
Informational statements regarding insurance coverage are for general description purposes only. Read our disclaimer.
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