What is Boaters’ Insurance?
Also called Boat Insurance or Boatowners’ Insurance, Boaters’ Insurance is an insurance policy designed to protect a boat, the boat owners, and any passengers in case of accident or loss.
Boat insurance can be used to cover any motorized water vehicle including (but not limited to) fishing boats, motor boats, sail boats, yachts, pontoon boats, and jet skis.
What Should My Boat Insurance Cover?
Boat insurance can include coverage for a range of different options and possibilities, depending on the needs of the boat owner and the requirements of the state in which the boat is owned and operated.
- Liability Coverage: Covers injuries and/or property damage to others resulting from a named accident for which the boat owner is legally liable. Some policies may include pollution liability and wreckage removal.
- Collision Coverage: Covers damages to your boat, motor, trolling motor, and trailer, as well as permanent and some portable boating equipment resulting from a named accident with another boat, vehicle, or object.
- Comprehensive Coverage: Covers damages to your boat, trolling motor, motor, and trailer, as well as some permanent and/or portable equipment resulting from a named event other than a collision. Examples may include (but are not limited to) fire, theft, or storms.
- Uninsured or Underinsured Boater Coverage: Covers you and/or any passengers in your boat for damages and bodily injury sustained in a covered accident resulting from an uninsured or underinsured boaters. Some policies may also include coverage for a hit-and-run accident.
- Medical Payments: Coverage for medical expenses incurred in the treatment of injuries sustained by your or your boating passengers during the operation and/or occupation of your boat.
Other optional coverages may include:
- On-Water Towing and Labor Coverage: Covers the cost of towing and other emergency services in case your boat becomes disabled on the water. Coverage is up to a pre-determined limit.
- Fishing Equipment Coverage: Covers all or part of the cost of damage to fishing equipment while on your insured water vehicle or while being carried onto or off of your insured water vehicle. Coverage is usually up to a pre-determined limit.
- Personal Effects Coverage: Covers the replacement cost of your personal property while it is onboard or while being carried onto or off of your insured water vehicle.