Does Boat Insurance Cover Personal Property


Depending on the details of your policy, boat insurance can protect against accidental, direct loss or damage to property aboard your vessel. 

Here are 5 things you need to know about personal property and equipment coverage. 

It’s important to identify and insure valuable equipment and features related to your boat. 

Personal property coverage refers to unattached items on your boat or PWC. Under this coverage option, you can provide protection for fishing equipment, portable electronics, and other personal items that come and go with you.

Your policy covers you for accidental damage or loss. Natural wear and tear of the insured property is generally not covered under the policy (i.e., deterioration, corrosion, mechanical failure, weathering, marine life damage, insect damage, mold, or mildew). Additional conditions may apply so consult your policy for all terms of coverage.

Report stolen personal items to the authorities ASAP. 

If personal belongings are stolen from your watercraft, report it to the authorities as soon as possible. They will log the incident and begin an investigation. This will be necessary if you need to make an insurance claim

Most insurers want evidence that you owned the damaged or stolen property.  

Insurers will ask for proof of the owned items you’re claiming. This could be a receipt or other form of proof of purchase. You may also be required to provide photos of the items. 

It’s important to provide accurate details about your stolen or damaged property. This will help to streamline the claims process. Plus, knowingly giving false information may jeopardize your coverage.

There are typically limits to how much you can claim.  

There is typically a cap on how much you can claim for personal property and equipment. This establishes the maximum amount an insurer may pay for a covered loss. Once the limit is met, any additional exposure becomes the policyholder’s responsibility. Higher personal property coverage limits may be available at an additional cost. 

» MORE: A Guide to Boat Insurance Premiums Deductibles and Policy Limits

A quality anti-theft device provides protection against theft.  

Securing your watercraft with an appropriately configured and installed anti-theft system is a great way to prevent theft. These security solutions typically protect against trailer and boat theft. But, if your boat is stolen, any personal property left aboard is likely gone as well. Marine-security systems often include an alarm and flashing lights to prompt intruders to flee, as well as GPS location capabilities to alert you if the vessel is being moved. 

» MORE: Boat Insurance and Anti-Theft Devices

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