Boat Insurance

If you have a boat, just like if you have a car, you should have insurance. Boat insurance will protect your boat, jetski, houseboat, or any other watercraft against wrecks as well as damage from storms, theft, fire, or other hazards. You can learn about how boat insurance works as well as what boat insurance costs below. You can even get a boat insurance quote for free. Read on.

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Chris Tepedino is a feature writer that has written extensively about auto insurance for numerous websites. He has a college degree in communication from the University of Tennessee and has experience reporting, researching investigative pieces, and crafting detailed, data-driven features. His works have been featured on CB Blog Nation, Flow Words, Healing Law, WIBW Kansas, and ...

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Reviewed by Rachael Brennan
Licensed Insurance Agent

UPDATED: Nov 17, 2020

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Navigating on the water can be a ton of fun — however, it isn’t always entirely safe. For some reason, being on the water can make some watercraft motorists get a little fast and loose with the rules of boat safety.

And when that happens, so will accidents. But you can protect yourself with boat insurance no matter whether you’re insuring a large yacht or a couple of jet skis. Just make sure you know the ins and outs before purchasing your policy. You may even be eligible for a multiple policy discount when you combine your boat insurance with auto or homeowners policies.

When you’re ready to find the cheapest boat insurance to meet your needs, use our FREE comparison tool to get multiple quotes.

Protect Your Investment with Boat Insurance

There are all sorts of ways to enjoy the water. You can explore the seas in a yacht, cruise around the coast in a speedboat, dip your fishing line at your favorite watering hole, or just crash through waves on a jet ski. But whatever type of watercraft you like to enjoy, you should protect it and yourself with an affordable boat policy.

Boat insurance can cover more than just boats. It may also apply to the following types of recreational vehicles:

  • Personal watercrafts (i.e. jet skis)
  • jet boats
  • fishing boats
  • sailboats
  • houseboats
  • pontoon boats

All of the above can be covered with this policy. Also, keep in mind that bundling multiple watercrafts under the same insurance policy may provide a discount, so be sure to look for such deals while you shop around for the best boat insurance quotes near you.

Cheap Boat Insurance Coverage

Many different things can happen to your boat, whether you’re it in at the time or not. And due to the unique risks associated with owning a boat, boat policies are specifically tailored to combat them. Some of these risks include:

  • storms
  • collision
  • theft
  • sinking
  • fire
  • explosion

Boat insurance typically covers the boat itself and all items permanently attached to the boat. You may also be able to get coverage for electric trolling motors, anchors, seat cushions, extra fuel tanks, life preservers, tools, skis, dinghies, and tow ropes with a boat insurance policy. Other forms of boat coverage include:

  • Boat Liability Insurance – Boat liability insurance can protect you if you happen to injure someone while operating your boat or if your boat damages someone else’s property. It can also help pay for legal fees if the collision results in a lawsuit.
  • Boat Medical Payments Coverage – If you, any of your resident relatives, or any other occupants are injured while operating your boat, medical payments protection will cover their expenses up to the limits of your medical policy.

The following additional types of coverage are optional, but can be added onto your boat policy if they are within your budget:

  • New boats – Your new watercraft will be covered in the event of an insured loss/collision
  • Reasonable repairs – pays for various repairs you may have to make in order to protect your boat from further damage
  • Emergency services – covers up to $700 for emergency repairs made to your boat
  • Wreck removal – Covers expenses incurred as a result of removing your wrecked watercraft from the scene of an accident

These Boat Insurance Companies Offer The Lowest Prices In Your Area

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Money-Saving Tips for your Boat Insurance Policy

Knowing the facts about automotive insurance discounts can help you save on boat insurance, too. For starters, just like with a car, having a solid safety record can get you cheaper premiums for boat insurance, too. If you already have a clean driving record, that’s a good start. If not, ask your insurance agent about taking a boat safety course. It’s entirely possible that your insurance company will offer a discount for a boat safety class even if you already have a good driving reputation.

Here’s another thing to consider: how many claims have you had to file in the past? Because claim-free or nearly free policies might also get you some lower rates. And lastly, there are some companies which offer discounts for diesel-fueled boats (as opposed to those which run on traditional gasoline.

If you comparison shop via the internet for lower rates, you can find affordable yacht insurance, sailboat insurance, jet boat insurance, personal watercraft insurance (pwc), marine insurance, jet ski insurance, motorboat insurance, powerboat insurance, or speed boat online.

To start your search, use our FREE quote comparison tool now.

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