Before taking to the open waters, you’ll want to make sure your personal property and legal liability obligations are properly protected in the event of a boating accident. Most homeowners’ or renters’ policies will automatically cover the liability for small boats such as canoes, kayaks, and powerboats with less than 25 horsepower. Larger and faster boats require a separate boat insurance policy.
Many factors are considered when finding the type of policy best suited for your needs:
Age of Boat
Value of Boat
Type (inboard, outboard, utility, cruiser, performance boat, etc.)
Where it Will Operate (ocean, lake, bay, river, etc.)
A typical boat insurance policy will in most places cover:
Physical Loss or Damage to the Boat (including the hull, machinery, fittings, furnishings and permanently attached equipment)
Medical Payments to Others
Property Damage (including damage caused to someone else’s property)
Guest Passenger Liability (for any legal expenses incurred by someone using the boat with the owner’s permission)
Some policies have a “lay up” period that allows you to suspend coverage for specified periods when you are not using the boat, such as when there is colder weather. It is very important to know if you have a lay up period on your policy. We all know that weather can be unpredictable and we can experience a beautiful day in late fall that you may decide to take your boat out. If something would happen during that lay up period, you would not be covered.
You can read more about boat safety through the following links: