Boat insurance (also called **watercraft or marine insurance**) protects boat owners from financial loss related to owning and using a boat. It works similarly to car insurance but is designed specifically for use on water.

 

Boat insurance can help cover:

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Damage to the boat

Injuries to passengers or other people

Damage to other boats or property

Theft or vandalism

Accidents while operating the boat

 

Some boat owners are not legally required to have insurance, but **many marinas, lenders, and states require it**, especially for larger or motorized boats.

 

Common Types of Boat Insurance Coverage

 

Liability Coverage

Physical Damage Coverage

Medical Payments Coverage

Uninsured / Underinsured Boater Coverage

Towing & Assistance Coverage

 

Types of Boats Boat Insurance Can Cover

 

Boat insurance can cover many kinds of watercraft, including:

 

🚤 Powerboats* Speedboats* Fishing boats with motors* Cabin cruisers

 

⛵ Sailboats* Small sailboats* Large sailboats with or without motors

 

🎣 Fishing Boats* Bass boats* Aluminum fishing boats* Tournament fishing boats

 

🌊 Personal Watercraft (PWC)* Jet skis* WaveRunners* Sea-Doos

 

🛥 Yachts* Luxury or large boats* Boats with sleeping areas and kitchens

 

🛶 Non-Motorized Boats* Canoes* Kayaks* Paddleboards

 

🚢 Commercial & Specialty Boats* Charter boats* Tour boats* Commercial fishing boats

 

What Affects Boat Insurance Cost?

 

Insurance companies look at:

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Type and value of the boat

Engine size and speed

Where the boat is used

Owner’s boating experience

Safety equipment on board

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Boat insurance normally helps with:

 

Protection against expensive repairs

Cover legal responsibility after accidents

Provide peace of mind on the water

Meet marina or loan requirements