Do I Need Boat Insurance?

Do I Need Boat Insurance? Is it Mandatory if I Own a Boat?

Only a small handful of states actually require boat insurance, but there are a few situations where you may need it. First, if you dock your boat at a marina, they may require some form of coverage in order to protect their business. Second, if you finance your boat, nearly every lender will require coverage to protect their investment. 

Other than that, you should always have at least liability coverage on your boat to protect yourself against lawsuit costs if you cause bodily injury or property damage. Property coverage is optional, but again, the more comprehensive your coverage, the better it can protect you.

Do I Need to Insure My Boat Trailer? 

Insuring your boat and all that go into it is always a smart idea. There are, however, a few ways of going about it. In many cases, you can simply add on trailer coverage to your boat policy. Otherwise, in some instances, your boat trailer will be protected by your home or car insurance policy. It’s best to talk to your independent insurance agent about your boat, the trailer, and how you use it to talk through your best option in more detail.

Does Boat Insurance Cover Passengers?

Yes, if your policy includes medical payments, it will cover injuries to your passengers if you get into an accident. This is definitely one of the most important coverages because an injury to someone on your boat can rack up some pretty significant medical and legal bills. Having the right boat insurance will make sure you can help take care of anyone injured in an accident and get back to life on the waters as painlessly as possible. 

Does Boat Insurance Cover Theft?

Typically, yes. But we always recommend checking with your independent agent to make sure your coverage includes theft. Every carrier and every policy is different, but the more you know about your own policy, the better it will help protect you. 

Does Boat Insurance Cover Hurricanes?

In most cases, yes, you will be covered in the event of a hurricane. But, as with any other natural disaster or unexpected event, you’ll want to double-check your policy, but typically boat insurance does cover storm damage, including hurricanes.

Does Boat Insurance Cover Engines?

No, boat insurance often excludes defective machinery or maintenance costs. Wear and tear is a natural outcome of use and not covered by your policy.

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