Boatowners insurance

A typical boatowners insurance policy is designed to protect your boat, motor, equipment and passengers. It provides similar coverage to those you typically have for your car including the following:

  • Theft, loss or damage to the boat and attached equipment
  • Bodily injury coverage
  • Damage caused to someone else’s property by your boat or watercraft
  • Liability coverage for your passengers, which would include family and guests
  • Medical payment coverage for injuries to the occupants of the boat
boat on open water
boats at marina dock

Physical damage coverage

Physical damage coverage insures your boat, motor, boat trailer, boating equipment and other personal property against accidental loss or damages. It can help you insure your investment in the event of loss due to following risks:

  • Sinking
  • Capsizing
  • Fire
  • Theft
  • Collision
  • Explosion

Boating liability coverage

Personal liability

Personal liability coverage provides protection for legal liability and pays, up to the limit of your policy, the legal obligations imposed upon you due to an accident resulting from the ownership, maintenance or use of your watercraft, including bodily injury, property damage and legal defense.

Medical payments

Medical payments coverage pays medical expenses up to the limits in the policy, including the insured’s boating-related medical expenses from an accident arising out of the ownership, maintenance or use of the boat. Expenses include hospital, medical and ambulance.

Top ways to save on boat insurance

  • Running your boat on diesel fuel instead of gas reduces both your risk and your insurance premium.
  • A boat fire can be devastating, so having approved fire extinguishers on board can be a premium saver.
  • Complete an approved safety course through the Coast Guard, U.S. Power Squadrons, Red Cross or other state-administered course.

Additional coverage options

For added protection, consider the following additional coverage options:

Reasonable repairs

Reasonable repairs: Covers repairs done to protect covered property from further damage.

Emergency service

Emergency service: Pays for reasonable costs that you incur resulting from specified emergency service to your boat, motor or boat trailer.

Wreck removal

Wreck removal: Pays the reasonable expenses you incur for any attempted or actual raising, removal or destruction of the wreck of your watercraft when damage is caused by an insured loss and removal or destruction is required by law.

Umbrella liability

Umbrella liability: Provides additional boat insurance coverage across the board for home, auto and watercraft.

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