8 Things to Know About Boat Insurance

Boats are a lot of fun. You can fish from them, swim from them and a lot of other things. They are basically like cars on the water. So you want to make sure that your boat is covered. The coverage will make sure that your boat, the people in your boat and other people on the water are protected if something should happen. Below are 8 things you should know about boat insurance.

1. A Boat Won’t be Covered by Your Homeowner’s Policy

This is true for all boats except for two – canoes and small boats without motors. However, if your boat is large that has a substantial engine or motor, you will need separate coverage. The insurance is going to be similar to the policy you have for your car. But if you own a yacht, it will be a lot like a small home’s insurance.

2. Insurance Will Give You Protection from a lot of Disaster Types

There are a lot of various disasters which often happen when you are on any boat. When you’re having a lot of fun, all of the sudden something could happen which makes the day not so fun. Having insurance on your boat is going to help with covering for you for things such as:

  • Capsizing
  • Collisions
  • Fire or explosion
  • Explosion or fire
  • Storms
  • Sinking
  • Theft
  • Stranding

3. The Policy Will Protect Everybody and Everything

When your boat is insured, you, the boat, the equipment in the boat, and the other boaters are going to be insured. Some coverages that are available are liability, medical payment, theft and property damage coverage and bodily injury.

4. You Need Physical Damage Coverage

Boats are expensive items and the equipment that is on it is also expensive. Being covered for any physical damage is going to cover the trailer, boat, equipment, motor and the other kind of items that are boat related.

5. You get Two Main Liability Types with Boat Insurance

The first type of liability is personal liability. This is going to cover those things you are obligated for paying legally to someone who is injured when there is a problem while you’re boating. These will be things such as the expenses because of legal defense, property damage and bodily injury. Medical payment coverage is going to pay the medical expenses occurring due to accidents happening with the boat. Hospital and medical bills as well as ambulance charges also are going to be included.

6. You can Get Other Kinds of Coverage

Property and liability coverage just are the basic types of insurance you’re going to need for your boat. However, there are also other types of options you’re able to choose for other coverage if you’re interested in further protecting yourself. You’ll find a few of your other options that you can use.

  • Emergency Services – If you have this kind of coverage, it’s going cover expenses you’re going to have if and when you need these types of services
  • Reasonable repairs – It will often be expensive to have your boat repaired when it’s damaged. But when you have this coverage type, your boat’s maintenance that it’s going to need for making sure it’s protected from future damage is going to be covered for you.
  • Umbrella – When you have this coverage type you’ll have additional protection against possible disasters. It’s going to basically care for any leftover expenses when you don’t have enough coverage for paying for those expenses.
  • Wreck removal – Any boater knows that sometimes a boat won’t float how it should. If something happens causing the sinking of your boat, this type of coverage will pay a reasonable price for raising, removing or destroying the boat. Keep in mind that it’s only true if the shipwreck was because of an insured loss and the law requires you to have the boat removed.

7. You can Save on Your Boat Insurance

If you’re concerned about boat insurance cost, it’s good to know that there is a few ways that you will be able to lower your costs on the rates you’re paying. Insurance companies like to reward people when they take certain precautions. Below are some of the ways you’ll be able to show a company you’re cautious when you’re on your boat.

  • Be certain that you have fire extinguishers upon your boat which have been approved.
  • Take one of the Coast Guard’s or Red Cross’s approved safety courses through your state.
  • Make sure there are fire extinguishers on your boat that are approved.
  • Using diesel can help with lowering your premium and risk

8. It may be Possible to Pause Your Policy When Winter Comes

Unless you’re living in an area where you have warm weather throughout the year, there is a good chance that you won’t take your boat out when the winter is coming. Some policies allow you to just buy coverage for the months you’re going to use your boat. If you’re selecting a policy which will allow you to do this and you’re saying what months you’re going to take your boat out, be certain you’re only going out during those times. If you take your boat out and it’s not during that time, you won’t have any type of coverage. If there is something that happens, you won’t be covered.

If you’re a boat owner, there is a lot of fun things that you can do with your boat. But it’s important for you to be certain that those people who are in your boat, the boat itself, and those other people that are boating all are safe anytime you’re on your boat. Before getting into the boat, be sure that you have the coverage that you need for protection just in case something should happen. You never know what could happen. You want to be sure you’re protected and covered. When you’re covered, and you have fewer things to worry about, you’ll find it’s a lot more enjoyable.


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.