Insuring your boat

Going to a Boat Show? What you need to know about insuring a boat.


There are several coverages to consider when insuring your boat. First is liability insurance. If you are found at fault in an accident, you could be held liable for injuries caused to others or for repairing damage caused by the accident. Watercraft liability helps protect you from paying medical expenses, loss of income and even funeral costs of other people who are involved in the accident. It also pays for damage done to another person’s boat or property such as a pier.


If another boat operator damages your boat or injures you or your passengers but does not have insurance, you may need uninsured watercraft coverage to help pay for medical expenses.


Property coverage helps pay for the damage to your boat if you are involved in an accident with another boat, hit a pier or buoy or if your boat is damaged due to fire, vandalism or wind. When setting a limit to insure your boat, be sure to include the value of equipment such as motors (including trolling motors) and permanently installed fish finders and navigational units.


A boat policy may also offer optional coverages for personal effects including fishing equipment, emergency services for the cost of a tow, and coverage for boat accessories such as life jackets and anchors.


Insuring your boat correctly can give you piece of mind so you can enjoy your summer on the water.