page loader

Boat Insurance

Boat Insurance

Boat insurance covers your boat for incidents such as theft or damage. If you have liability coverage, then it will help when someone is injured on or by your boat. Keep in mind that watercraft without a motor, such as a canoe or kayak, is generally not eligible for this coverage.

Do All Boat Owners Need Coverage?

Coverage is not legally required. But if you’re using the boat as collateral for a loan, then the lender will probably require coverage. Some marinas also require boat owners to have liability coverage.

How Does the Policy Work?

To keep your coverage active, you’ll pay a monthly premium. In addition to the premium, you’ll also have a deductible. The deductible is the amount you must pay before the insurance does its part. When you file a claim, the insurance company will determine if it’s for a covered event. If the claim is approved, then the insurance company will provide compensation as promised.

Coverage Options

Liability is the most basic type of coverage. It helps pay expenses you cause as a result of injuring someone or damaging their boat. Liability only helps if you’re at fault, and it doesn’t pay for damages to your boat or your injuries.

Property coverage helps repair or replace your boat if it’s stolen or irreparable. The beneficial thing about this option is it covers your boat on and off the water. You can combine this with medical payments coverage, which helps if you or your passengers are injured on the boat. It helps pay for related medical costs, such as for medication. Uninsured watercraft coverage is also worth considering. If an uninsured boater collides with you, then this coverage helps pay for damages or injuries you receive.


When you have boat insurance coverage, the financial assistance you receive is a big help. Boat repairs can be costly. And paying for someone else’s repairs or injures can be costly as well. Paying a deductible and premium will cost you less than paying for damages and medical costs out of pocket.