The Boat Insurance Cheat Sheet


Insurance is a part of our everyday lives. Just look at the different types that are popular to invest in:

  • Life
  • Auto
  • Health
  • Homeowner’s
  • Travel
  • Pet
  • Boat*

Managing different policies, reading between the jargon, and knowing what each plan covers can be overwhelming. We’re not in the business of writing the first six types of insurance on that list. Boats, on the other hand, are our jam. We specialize in recreational marine insurance to ensure our customers receive quality care, service, and consideration that addresses their needs. 

That’s why we put together this cheat sheet and checklist. We want our customers to feel confident when getting a quote or purchasing a policy. This cheat sheet can serve as a starting point to understanding insurance and figuring out what type of plan is best for you. Remember: our goal is to get you the best deal with the coverage you desire.


You may think there is one simple reason to get boat insurance – protecting the vessel. However, boat insurance is so much more than that. Of course, you are getting coverage for the watercraft; additionally there are many other coverage features that may be included with the policy.

Here are some popular boat insurance options:

  • Towing & Roadside Assistance
  • Agreed Value
  • “All Risk” Coverage Fire Theft, Collision and more
  • Bodily Injury & Property Damage Liability
  • Medical Payments
  • Personal Property & Equipment
  • Cost of Defense
  • Hurricane Haul-Out
  • Marinas as Additional Insured
  • Tenders/Dinghy
  • Disappearing Deductibles
  • Environmental/Fuel Spill/Pollution under the Oil & Pollution Act

Which kind of coverage is right for you?

You may be wondering if boat insurance is required by law. In most states it is not. Technically, you can legally drive a boat without any insurance in 48 states. Does that make it a good idea? No. Plus, most lienholders and marinas and lienholders will require insurance.

We recommend every boater maintains liability protection at a minimum. However, most boaters have invested a considerable amount of time, energy, and money into their boat. You should consider additional coverage to protect against it against the perils and risks posed to the watercraft and its owner. From a financial standpoint, a boat insurance policy that covers almost any accident or exposed risk imaginable is recommended. 

Look at your exposed risks and speak to an underwriter to determine what kind of coverage is sufficient for your needs.


Accidents can be financially devastating. Without insurance, you could end up paying thousands and thousands of dollars in repairs. More than that, you could face substantial medical bills if someone is injured in an accident involving your watercraft.

Remember – cheap coverage won’t save you any money if the policy doesn’t provide the protection you need. At the same time, we understand everyone has different budgets and ideas as to how insurance fits into their finances. It is never our goal to have you overpay for coverage. Our goal is to provide the coverage you seek to protect your financial investment at an affordable price. That’s why we offer a wide variety of discounts to help keep down the cost of your premium. 

  • Boating Safety Course: a qualified safety course will help you learn boating basics, while also saving you money.
  • Clean Driving Record: a spotless MVR will help you save on car insurance, as well as boat insurance.
  • Navigable Waters: if you navigate in protected waters, you can save money.
  • Multi-Craft: insuring more than one watercraft with us will give you a substantial discount.
  • Winter Layup: if the boat is not afloat during the winter, we can offer a substantial amount of savings.
  • Experience: your experience matters to us and that will be reflected in the premium. 


  • Insurance will minimize your financial exposure and give you peace of mind.
  • When choosing coverage, it is important to assess your individual needs and mitigate your specific risks.
  • Even if you are not liable for any wrongdoing, you may fall victim to circumstances and require protection.
  • Insurance gives confidence to lienholders.
  • Not carrying insurance for large assets, like your boat, can lead to an insurmountable financial problem in the case of an accident.
  • Boat insurance is meant to protect against future risks and ensure certain benefits.  

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