Buying a Boat

You've spent the past few months—or longer—scouring boat listings, gathering all your options, and choosing the best boat for your needs. You've compared similar boats for their red flags, what equipment is included, what features are in need of repair or replacement, and the trustworthiness of the dealer. You've inspected a boat or two in person, and you've been accepted for financing.

Now you're ready to make your purchase and push off into the water. But first, you'll want to ensure your investment is protected. Before setting sail, take the time to make sure you have the right insurance coverage. To adequately insure a boat, consider obtaining a boat insurance policy.

What Is Boat Insurance?

If something happens to your boat, you’ll incur the cost to repair it. Boat insurance offers comprehensive and collision coverage to protect your watercraft against many causes of damage. It is important to ensure you have an agreed value policy for your boat.

Some states require boat owners to have liability coverage. If you cause injury or damage with your boat, you may be liable for medical expenses or repair costs. Boat insurance covers bodily injury and property damage liability, as well as medical expenses for you and your passengers, up to your liability limits. There are multiple medical limits that you can choose to fit your needs.

You can also customize your boat insurance policy. For example, you can add optional coverages for towing, fishing gear, and your trailer or boat lift.

Help Reduce Your Premiums

You can save on your boat insurance by following certain conditions:

  • Use your boat for pleasure, not business.
  • Adjust your deductibles to fit your boating needs.
  • Don’t let your policy lapse in coverage.
  • Adjust the value of your boat over time.

Discounts are sometimes available for having a clean boating and driving record, being claim free, being an experienced boater, paying in full, going paperless, and having prior boat insurance.

Stay Safe on the Water

Navigating on the water presents different hazards than navigating on land. Prevent accidents by practicing boating safety.