Best Boat Insurance

Boat Insurance

Boat insurance is absolutely needed for boat owners as much as auto insurance for car owners. However boat insurance is still not required in some states.

Boat Insurance Coverage

Based on search volume and media presence as well as what’s offered on these boat insurers company websites the best insurance carriers are:

  1. Allstate
  2. Progressive
  3. Geico
  4. USAA
  5. Statefarm

A Word On Boat Insurance Cover Needs

No matter if this insurance isn’t needed or not, boat owners must purchase it no matter what to cover the damages that might happen to their boat.

It’s possible for boat owners to get boat damage by hitting underwater rocks, equipment on board falling overboard and boat sinking.

Why boat insurance is needed?

Boat owners must purchase boat insurance because boat can be destroyed by storms, collisions with other boats or docks and many other events that boat owners cannot control.

Types of boat coverage to choose from:

  • boat damage
  • boat liability
  • damaged goods on board
  • medical expenses for injuries on board boat
  • boat damage caused by third parties boat damage due to uninsured boat owners boat damage because of different natural disasters such as storms boat damages during boat travel boat sinking.

Boat Insurance Quotes  

By performing a quick search on Google or Yahoo, boat insurance quotes can be easily found and compared from top boat insurance providers. There are online boat insurance quotes for boat owners to purchase boat coverage.

Comparison of boat insurance quotes are available on the internet so that boat owners have the chance to compare prices from top boat insurance providers.

The best boat insurance provider is out there, just waiting for boat owner’s to find it!

Best Boat Insurance

How to pick the best boat insurance? Simple, boat insurance providers offer boat owners boat insurance boat quotes.

The boat owner can compare boat insurance boat quotes from different boat insurance providers that specialize in selling boat coverage.

Getting Insurance Quotes Online

For boat owners who have no time to visit any boat insurer’s office, the best way to get free boat coverage is performing a quick search on Google or Yahoo and find boat insurance companies online.

Through online shopping for boat policies, boat owners can purchase their desired coverage with just few clicks of mouse which is great.

Boat Insurance For Different Boat Types

Does boat insurance change depending on boat type? Yes, boat insurance boat coverage is based on boat type.

Different boat types have different boat damages that can happen to them.

For boat owner’s who want the best boat insurance, boat owners must compare insurance quotes online for free from top boat insurance providers.

Moreover, they need to make sure their desired boat coverage is available by each boat insurer. Even though some states don’t require boat owners to purchase boat coverage, it’s always better if they do so because there are many unknown dangers out there!

Replacement Cost Coverage

What is replacement coverage cost?

Boaters can pick replacement cost coverage for their boat to make sure they get the same amount of money when purchasing a new boat in case their current boat gets destroyed.

Boat owners must check with different insurers if this type of coverage is available because it’s not offered by all boat insurer’s.

Uninsured Boater Coverage

This type of insurance helps to protect boater from accidents which involve an uninsured boater.

There are many cases in which a person who causes damage to your boat isn’t insured and no compensation will happen even though you have paid for boat coverage.

In states where uninsured boater protection is required, the best thing to do is looking for top providers that offer it or purchase additional coverage from your current boat insurer.

Boat Insurance Cost

The cost of insuring a boat depends on how comprehensive boat insurance works for your vessel. For example, comprehensive coverage for boats are more expensive because it covers any kind of damage that can happen to the boat.

On the other hand, liability is cheaper because it just covers damages that might happen to third parties.

Boat insurance cost also depends on different factors such as:

  • boat model
  • type of boat coverage chosen by the boater.

Insurance Savings Tips For Boaters

When purchasing a new policy, there are some tips every boater should keep in mind so they can get an affordable boat insurance.

For example, boat owners must get quotes from many insurers before choosing what works best for their needs. They have to make sure each insurer offers them desired coverage and with acceptable price range too!  

Best Boat Insurance Providers

Here is another list of the best boat insurance providers we found but please note we did not suss them out:

  • – this is an aggregator website [not boat insurance provider] that allows users to compare boat insurance quotes online from top providers with affordable price ranges!
Best Boat Insurance

Boat Insurance Policy

What is a boat policy exactly? Some websites refer to it as boat insurance certificate while other sites call it a policy.

Anyway, this document is issued by an insurer that covers the boat against damages or loss. Boat owners must keep this document in their possession when they are on the water because without proof of coverage, police officers might ticket them.

Types Of Boat Policies To Choose From

There are three types of boat policies to choose from including:

1.    Third Party Liability Coverage

It’s also known as personal liability coverage because it covers damage payments for third parties only.

2 .    Third Party Property Damage Coverage

This type of protection helps boaters pay for property damage caused by them to others during accidents, according to the terms and conditions of the insurance policy.

3 .    Collision Coverage

This helps boaters pay for damage caused to their boat by collisions with other objects or boats.

Boat Insurance Policy Terms To Keep In Mind:

Keep these terms in your brain when picking a comprehensive coverage based on boat insurance packages:

1.    Docked

It means that your boat is within arm’s reach of land so it can’t float away on its own.

2 .    Anchored

Your boat has been anchored to prevent moving out of place without human assistance, according to the terms and conditions of the insurance policy.

3 .    Underway

It describes a time in which there’s no anchor holding your boat at its current location but it’s not docked either because it isn’t connected to land nor any other object.

4 .    Non-Deductible

This means there’s no money given back to you in case of an accident or claim.

5 .    Uninsured Boater Coverage

This type of coverage provides compensation when your injury or damage is caused by a boater who doesn’t have insurance for his own boat and/or personal liability.   

6 .    Underinsured Boat Insurance Coverage

If the amount of damages that the other boat owner should pay isn’t enough, this coverage can help your insurer cover the remaining costs.

7 .    Towing And Labor Costs If Your Boat Is Disabled Or Lost At Sea

This is one of the most important coverage to have because it can help you save thousands of dollars if your boat is lost or damaged.

8 .    Personal Effects Coverage

It will help reimburse costs if any of your personal items get lost, damaged or stolen.

9 .    Fuel Spill And Oil Discharge Liability Coverage

This type of protection will help boat owners pay for the costs that result from fuel spill and oil discharge damages or losses.

10.    Renter’s Insurance For Personal Belongings Of The Boat Owner Who Let Others Use Their Vessels For Free Or For A Price 

It includes all types of renters insurance including personal effects coverage

11.    Non-Owned Boats Coverage

If you borrowed a friend’s boat and got into an accident while you’re using it, this type of protection helps cover for the damages and losses caused.

12 .    Boating Liability

It will help pay costs when a third party sues you for injuring them or damaging their property while on your boat.

13 .    Uninsured Motorist Coverage

This helps reimburse costs when injuries resulting from accidents with hit-and-run drivers happen.

14 .    Emergency Expenses Coverage

This type of coverage provides necessary money for a boater’s family in case one has a sudden medical emergency while they’re on the water. It also pays for expenses related to towing, as well as the loss of life and limb.

15 .    Inland Marine Coverage

This includes damages done by windstorms, hurricanes, fires, floods or other causes that make a boat owner’s property unsafe.

16 .    Boater Financial Responsibility

This type of provision states how much a boater needs to pay if he gets into an accident or causes damage to third party property.

17 .    Pollution Liability

This type of coverage will help the boat owner get reimbursed for costs resulting from damages caused by oil spills, paint, chemicals and other types of hazardous substances.

18 .    Waiver Of Additional Insured Coverage

It’s a provision that will keep third parties from suing the boat owner if another insured party is involved in an accident.

19 .    Alcohol-Related Offenses Provision

It states what happens to a policy if the boat owner or any other insured person gets into an accident while being under the influence of alcohol.

20 .  Recreational Vehicles Provision

This provides protection for types of vehicles that are usually used for pleasure instead of business.

21 .    Theft Coverage For Personal Watercrafts

The boat owner needs to provide proof that the personal watercraft has an anti-theft device installed. If he\/she fails, there won’t be any coverage.

22 .    Owner Of Personal Watercraft Liability

If the owner of a personal watercraft sells it, this type of protection makes sure that the new owner is still protected.

23 .    Theft And Vandalism Theft Coverage For Boats

It includes all types of thefts including damage caused by vandalism or hurricanes.

Best Boat Insurance Provider Choices

Boat insurance is a type of coverage that helps owners pay for expenses incurred as a result of damage and losses caused by accidents involving their vessels.

If the boat owner gets into an accident with another vessel, this type of protection will help cover damages and medical costs.

There are 23 types of boat insurance with different ways of protecting owners’ property.

These include coverage for personal vessels, boats that are owned by the insured person but are often loaned to other people, watercrafts that are rented out for free or a price and types of vehicles used mainly for pleasure instead of business.

It also includes protection against accidents with hit-and-run drivers, third party lawsuits against the insured person, medical emergencies that happened while the boat owner was on water, expenses related to towing and funerals, as well as damages caused by windstorms, hurricanes, fires or chemical spills.

Boat Insurance Costs

How much does it cost to insure your boat?

This type of coverage takes into consideration different factors including the characteristics of the boat, where it’s usually stored and what kind of activities it’s used for.

It also takes into account how much money people who are involved in accidents claim.

A policyholder with someone like a teen driver will pay more than one insured person whose drivers have clean driving records.

Basically, the cost of boat insurance depends on how much money will be required to pay for accidents and damages.

When Is Coverage Necessary?

Boat insurance is not mandatory.

The only exception is when someone wants to get a loan for their vessel or rent an apartment that requires proof of purchase before renting it.

However, experts recommend taking a boat insurance if a vessel costs more than $100,000 and the boater plans to take out a loan for it.

Insurance companies usually offer discounts if the policyholder has motor club membership or is over 50 years old.

Since it’s not required by law, most people prefer to skip it.

However, they shouldn’t look at the costs of boat insurance as an additional cost for owning a vessel; instead, it should be seen as an investment in safeguarding their assets.

When Can A Policy Be Cancelled?

Insurance companies usually won’t cancel boat policies unless the insured person gets into an accident that will result in a major claim, does not pay the premiums on time, commits insurance fraud or lies when applying for coverage.

If they refuse to renew the policy due to concerns over their risk level, it will be up to the insured person to find another insurer willing to cover them.

Boat Insurance FAQ:

Even though we’re providing you information that we found from some of the best boat forums and discussions, we know that you may still have questions so here are the most common:

What is General Liability Coverage?

Boat liability insurance is a type of protection that will prevent boaters from facing legal actions in case they cause damage to someone else’s property or hurt another person while on the water.

What is Property Damage Coverage?

It helps pay for the costs of repairs and replacements when a boat owner’s vessel gets damaged by an accident.

What is Inland Marine Coverage?

It includes damages caused by fires, floods and other weather-related events. If a boat is stolen or vandalized, this type of protection also covers losses in these cases.

What are Medical Payments Coverage?

This benefits the insured person in case he\/she becomes injured while on a vessel due to an accident. This type of protection covers the costs of medical and funeral services, as well as other medical and hospitalization expenses required to treat injuries suffered during a boating accident.

Do I Need to take a Safety Course?

Taking a safety course for comprehensive coverage or insurance purposes may not necessary.

However, it’s a good idea because it will help boaters develop the skills needed to avoid accidents and collisions. A safety course may just be a very good way to get to know your boating passion, how to fix boat repairs, and possible wreck removal.

What Happens If My Boat Sinks?

Typically, with wreck removal and sinkage, a most boat insurance companies or boat insurance policy will not cover the costs of a sinking or a total loss.

However, these cases may be covered by another type of insurance called marine protection and indemnity with which you can protect yourself from any unexpected events that might take place on the water.

Can You Get Boat Insurance Discounts?

Discounts vary but could include:

  • Multi-Policy Discount
  • Carrying Other Forms Of Insurance Such As Car And Home Coverage
  • Bona Fide Boating Program Participation
  • Membership In The US Power Squadrons
  • Having A Fire Extinguisher On Board
  • Annual Vessel Safety Check By A Licensed Professional

Top Boat Insurance Providers

  1. Foremost Insurance Company – Offers boat coverage for boats that are 16 feet or longer. It markets through a network of appointed boat insurance agents, who have to meet the company’s criteria.
  2. National Liability & Fire Insurance Company – Offers a customizable liability policy that starts at $1 million and covers anywhere from 16-foot vessels to bigger boats.
  3. Boat Owners Association Of The United States – This is a non-profit association that offers boat insurance policies for members only. Coverage includes medical, towing and storage expenses.
  4. Boat Insurance Services – Offers a one-time payment policy where the boater only has to pay once instead of every month for a year. This company also offers coverage for standby time, meaning if there isn’t any wind or water to use, the boat can still be insured.
  5. BoatUS Insurance Program – This company has been online since 1987, providing services for more than one million members. It offers coverage for boats that cost from $500 to over a million dollars.
  6. Bob Smith Insurance Services – Provides coverage for fishing vessels of any size, pleasure boats and water taxis.
  7. Liberty Mutual Insurance Company – Offers both liability and physical damage protection, along with an option for replacement cost coverage to make sure the boat is replaced if it’s lost or damaged beyond repair.
  8. Boat Insurance Express – Provides boat insurance quotes in under five minutes for all states, while not asking for any personal information. This company also offers boat insurance discounts, such as multi-policy discounts and having other forms of coverage.
  9. Boat World – Provides liability, medical expenses benefits and protection against uninsured boaters. It covers boats up to $1 million dollars in value.
  10. Safeco Insurance Company – Provides coverage for boats that meet certain criteria, such as over 15 feet in length and having a valid registration. It also offers insurance discounts such as multi-policy discounts and membership in the US Power Squadrons.

At this point you should be aware of the most common questions regarding policy and insurance.

Make sure to check with your agent to make sure your boat is insured properly. Your boat’s safety will always be your first priority, so make sure to stay protected at all times.

Best Boat Insurance Companies

Everyone is after the best boat insurance companies for their pontoon boats, jet skis, classic boats, fishing boats, speedboats, and want to know if it includes situations such as roadside assistance or boat trailer coverage.

Here’s what we found:

There are different kinds of boat protection options available for any interested boater. To know the right type of coverage to get, there are a few things that should be considered.

Next, we’re going to cover some of the major points to consider when purchasing this type of insurance and finding a designated insurance producer.

What Your Company Covers

Before deciding on which type of coverage to get, it’s good to know what your chosen company covers in different situations.

Here are some of them:

1) Accidents involving the boat

2) Loss or theft of personal belongings

3) Damage to another person’s property

4) Medical Expenses due to an accident on the boat

5) Physical damage of the boater’s property

6) Legal expenses that result from a boating incident, including damages you are responsible for.  You may also want to get coverage for yourself incase you are sued by another boater.

Things To Consider When You Buy Personal Watercraft Insurance

There are some things to consider when buying this type of insurance.  Here’s what we found:

1) Age of the boat – There is some coverage automatically included with your policy, but that doesn’t necessarily mean it is enough. Always compare prices from multiple companies to make sure you’re getting the best deal possible for your watercraft venture.

2) Location of the boat – One question to ask yourself before purchasing a policy is where will it be stored? How far away from water does it need to be kept in order to avoid damage?  If it’s kept more than 50 miles from the nearest body of water, you may want to consider other options, as it may be too hard to keep up with.

3) How often it will be used – The type of coverage you choose should depend on how much your PWC is going to be used. If you use your boat a few times a year, you may want to choose the minimum coverage. If it’s used more often, consider all of your options to find one that will work best for you.

4) Where you store your boat – If storing your PWC outside, there are some thing s to take into consideration.  These include:  

a) Making sure that your storage facility is secure

b) Whether or not the area has heavy foot traffic.  If it does, it’s possible that your PWC could be vandalized, especially if you do not have insurance coverage.

5) The size of your PWC – If you own a larger boat, make sure   to get the proper coverage for it because chances are, it will be more expensive.

6) Whether or not you have a trailer – If you have a trailer to store your PWC on, make sure to consider whether or not your renter’s policy includes boat trailers.  If it doesn’t, you may want to consider buying an additional policy to cover your trailer.

7) Claims history – If you already have coverage, but you’ve made previous claims, it’s possible that your premiums will go up.  However, there are some companies that will give discounts for people without any claims at all, compared to those who have previously filed a claim.

8) Liability limits – Some policies have a limit of liability coverage, so you should check to see what yours is.  If it’s not high enough to cover your needs, consider purchasing additional coverage.

Here are some other things to take into consideration when buying this type of insurance:

a) Recreational purposes – People who use their boats primarily for recreational purposes should consider buying a policy with higher coverage.  However, those who use them for commercial purposes may be better off choosing a company that offers lower liability limits and more physical damage coverage.

b) Type of Power – The type of power your boat uses will also help insurers determine the risk level and the likelihood that you’ll file a claim.  For instance, outboard motors are considered to be more risky because they’re exposed, and the water used behind them can easily cause damage to your boat. Jet Skis are different from pontoon boats, for example.

c) Where you store your PWC – If you store your PWC outside or in an unsecured location, you may need to buy additional coverage that protects your investment from damage.

d) Experience – When determining your rates, insurers will take into consideration how much experience you have as a PWC operator.

This is because the risk level becomes higher if you consider factors such as:  

How many years and hours of operation you have under your belt, and what types of maneuvers you can do with your PWC

e) Your driving record – This also plays a role when insurers determine the risk level of your boat policy.  The lower your history, or if you’ve never had an accident or citation for operating a PWC while intoxicated before, the more likely you’ll receive better rates and coverage options.

f) Age of you PWC – If you own a newer boat, it’s less likely to have mechanical issues and other problems.  As a result, your rates will probably be lower than someone who owns an older PWC with more wear and tear.

Best Boat Insurance? The Kind That’s In Place!

The best boat insurance is the type that follows the rules and regulations of the waterways and keeps you and your craft safe. Other insurers not mentioned in this guide may be beneficial to learn about as it’s important to insure boats (not insure boats is just a bad look for your boat’s future).

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