Boat InsuranceGet a Quote
Whether your boat is built for sailing, fishing, entertaining, or all of the above, it deserves special attention from an insurance agent who understands boat insurance, a.k.a. personal watercraft coverage (PWC). You should also work with an agency that has access to premier boat insurance companies with superior risk management and claims service offerings. Consider the following:
Boat Insurance Basics
In a nutshell, boat insurance is designed to cover your property, your personal liability for loss events occurring on the water, and damages caused by uninsured boaters. Your boat insurance premium is based on many factors—including size, horsepower, location of use, and frequency of use. Ask your agent about any special considerations you may have (e.g. year-round use, poker runs, racing, etc.). If you’re comparing two or more quotes, be sure you’re making an apples to apples comparison–meaning, are certain “standard” components, like emergency towing or haul-out services, included in both options?
Boat Insurance Coverage Features
Not all boat insurance programs are created equal. Depending on your needs, you may be looking for a policy that includes features like coverage for tenders, coverage for overland transportation or dry-docking damage, substitute watercraft use during repairs, emergency haul-out and storage coverage, search and rescue coverage, and even coverage for occasional charter use.
Navigational Limits on Boat Insurance
Serious boaters may wish to venture beyond the navigational limits defined in their policies. Work with an agent who can help you make the most of available on-water and trailering restrictions, plus secure specific trip endorsements for any excursions beyond.
Increased Personal Liability for Large Boat Owners
Recreational boating can be a dangerous sport. In 2017 alone, over 650 deaths and $46 million in property damage resulted from 4,291 accidents in U.S. waterways. Accordingly, all boat owners should have adequate coverage for at-fault events, which may result in expensive medical claims, property damage expenses, wreckage removal expenses, legal defense and settlement costs. In most cases—especially for vessels of 27 feet or longer—boating risks and exposures are too large to tack onto your home insurance policy.
Insurance Coverage for Boat or Yacht Upgrades
Don’t forget to alert your agent when you add valuable contents or features to your boat. As with your home, upgrades may affect replacement value and/or warrant the addition of specialty endorsements (e.g. coverage for fishing gear, water sports or scuba equipment).
Ready to talk boat insurance? Call our team at 508.339.2951! We’re also here to help with:
- High-Value Home Insurance
- Valuable Property Insurance
- Vacation Home Insurance
- Personal Excess Liability Insurance
- Boat Insurance
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