6 Myths About Boat Insurance

It can be hard to understand insurance policies, so a lot of people will turn to friends and family members for advice on getting insurance for their boat before they talk with an agent. Even though people mean well; a lot of people won’t give you the right information. This can lead to a lot of confusion and misinformation. Below are some of the common myths that people believe about boat insurance.

1. Your Boat is Covered by Homeowner’s Insurance

Even if you’re keeping your boat at your house, chances are that your boat isn’t covered by your policy even if it’s inexpensive or small. It may be possible that you can have a rider for covering your boat on your property, but when it’s not there, the boat is no longer covered.

2. Boat Insurance Isn’t Needed

There may not be laws in your community requiring boat insurance, but your local storage facility or marina might require you to have insurance so that their liability is reduced. If you’re financing your boat or it’s being used as loan collateral, insurance may be required by the bank. Even if it’s not required, keep in mind that it will only take a split second for a vehicle to hit the boat while you’re taking it somewhere or for someone to get injured while they’re on the boat.

3. You’ll Be Covered Anywhere You Go Boating

The majority of policies are only going to cover an area where you’re typically boating, along with the general area around it. If you’re going with your boat on vacation, there’s a good chance that your boat is not going to be covered. It’s a better idea to simply rent another boat while you’re on vacation rather than having the hassle of taking yours with you.

4. Insurance Rates Increase Because of Hurricanes

The premiums for your boat insurance will be based on where you live. A hurricane will only affect the insurance if you’re living in a state on the coast, where the hurricanes will cause a lot of damage to a boat.

5. Insurance for Boats is Expensive

There are costs associated with all types of hobbies and this is the same with boating. It’s important for you to understand the financial responsibilities that comes with boat ownership, but you can do things that will reduce your premiums for boat insurance. You want to maintain a good score on your credit, take safety courses and boating, and have a stellar driving record all to help you save money with your boat insurance.

6. My Driving Record Won’t Affect the Insurance Premium

You may think that your premium for your boat insurance isn’t going to be affected by a poor driving record like your car insurance, but it will be affected. The insurance companies will use it when they are underwriting. They’ll check how well you drive through your record and if you’ve gotten a lot of tickets, major violations such as drug or alcohol-related violations, a suspended driver’s license, reckless driving, or had accidents. If this is the case, then chances are that you won’t be able to get insurance.

When you have a boat, you want to make sure that you know the facts and ignore the myths. This will help you make sure that you have enough insurance on your boat and that you are protecting you, your boat, and your passengers. Talk with someone who insures boats and they’ll give you the advice so that you can choose the insurance that is best for you. Then you can enjoy your boat with confidence and responsibly without having to worry about accidents or injuries on your boat.


WhitCo Insurance agents provide this free service just for you. Meet with our agents in person or connect online to review your coverage to keep up with your changing insurance needs. If you would like us to explain your insurance policies in plain English, you can contact us a call at 866-298-7608.

We hope you will benefit from our web site and can take advantage of our insurance experience in Punta Gorda and North Port, Florida.