Boat Insurance 101


Boat Insurance 101

Boaters insurance helps protect your boat (and other watercraft) from certain risks, such as paying for damage repairs from an accident or even to help pay to replace if stolen. Boat insurance also includes medical coverage and environmental cleanup protection (as you can imagine, the costs to raise and remove a sunk boat and clean up the oil slick is significant!)

Here are some of the different coverages offered on boat policies:

Uninsured/Underinsured Boaters

Approximately 40-50% of boaters are uninsured – think about that next time you get out on the water! Uninsured/Underinsured boaters insurance protects you and other watercraft occupants against covered bodily injury caused by an uninsured, underinsured, or unidentified boater.

Physical Damage

This will pay to repair or replace your boat after a covered loss. 

Medical Payments

Your boaters insurance will cover medical (and if necessary, funeral) expenses caused by a covered accident involving your boat or other covered watercraft.


If you find yourself stranded in open water and need to have your boat towed back to shore, it can cost up to $400 an hour. This coverage pays for the towing of your disabled boat back to dry land.

Rental Reimbursement

Offers reimbursement for your covered expenses that are incurred while renting a substitute watercraft while your boat or personal watercraft sustains a covered loss.

Personal Effects

This endorsement covers your personal property, watersport equipment, and boat lifts and hoists on your boat or watercraft. You can also have coverages extend to fishing equipment, such as rods, reels, tack boxes, electronical gear, and any other equipment used for recreational fishing up to select limits while on board your insured boat.

Liability to Others & the Environment

Liability provides “third-party” coverage for bodily injury and property damage as the result of a covered accident involving your boat or personal watercraft.

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