If Youre Not Sure Your Personal Watercraft Counts As A Boat You Still Have Insurance Options
Other than boat insurance, there are also other categories of marine insurance. Those include: yacht insurance, sailboat insurance, dinghy insurance, boat clubs, boat and PWC rental insurance, and Professional marine insurance. Call an advisor today to see what insurance you need at .
The Bottom Line
Boat insurance is a smart investment for any boat owner. With these ten tips, youre well on your way to choosing a policy that will fit your needs. If youre looking for boat insurance, consider shopping for quotes with an independent insurance agent. An insurance agent is an excellent resource for choosing your coverage, limits and comparing quotes from different insurers.
Call an InsuraMatch insurance advisor today at to compare boat insurance quotes and save!
Not by the phone? Request a boat insurance quote online now:
Talk To A Boat/jet Ski Accident Lawyer For Free Today
Getting compensation after a boat or jet ski accident isnt always straightforward. However, talk to a lawyer before assuming your options. They can evaluate your accident and what you can do.
At John Foy & Associates, we have 20-plus years of experience helping injury victims. Our boat/jet ski accident lawyers are not afraid to fight for your rights. Plus, we do not collect a fee unless we win your case.
To get a FREE, no-risk consultation, call , or contact us online.
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What If I Already Have Boat Insurance
Whether your trailer is covered under your boat policy depends on many factors. Insurance coverage varies by state and by individual policy, so its important to check the fine print on your boat insurance.
Some boat policies extend to the trailer as long as a boat is on the trailer sometimes not. If you want your trailer covered, but its not specifically covered in the policy, youll likely have to pay a little extra to extend your coverage.
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What Is A Boat Or Watercraft
How your boat or watercraft is insured in California depends on the type of boat you have and whether you need to register it.
If you have a small boat less than 5 tons you may need to register your vessel with the California Department of Motor Vehicles . The California DMV defines a vessel as any motor-driven vessel as well as any sailboat thats over 8 feet long.
According to California law, a personal watercraft is a motor-driven vessel less than 13 feet long and is operated by a person sitting, standing, or kneeling on the vessel, rather than in the conventional manner of sitting or standing inside the vessel. Practically speaking, this includes Jet Skis, WaveRunners, and Sea-Doos.
California exempts very small boats, including rowboats, paddleboats, canoes and kayaks, and sailboats under 8 feet long.
Its A Great Way To Protect Your Investment
According to The Carefree Boater, the average MSRP for a 21-24 power boat in 2017 is projected to be nearly $80,000! By the time you invest in start-up accessories, safety training, a high-quality slip and add recurring fees such as gas, marina rentals, maintenance, and storage, youre probably looking at upwards of $10,000-15,000 in related costs. With that much cash on the line, it only makes sense to cover your investment with a comprehensive boat insurance policy.
The Tennessee Wildlife Resources Agency notes that Boat and marine theft is big business and has become a problem nationwide. Millions of dollars in insurance claims are made each year due to the theft of boats, motors, trailers, and an array of associated equipment.
Obviously, the more your boat is worth, the more important it is to have insurance coverage. However, even if your boat is the modest side, its likely it represents a big investment for you and one that would not be easily replaced in the event of an accident or theft! Make sure that you and your family have fun in the sun for years to come and investigate your boat insurance options today.
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Is Boat Insurance Required In Washington State
Although there is no law requiring Washington boat owners carry insurance, if you moor your boat at a marina you may be required to show them proof of insurance.
Because of the proximity to other boats and the potential for a loss on your boat to affect to other boats or the dock, most marinas require proof of at least $500,0000 liability protection before theyll rent you moorage space.
Check with your marina for more information, and contact the McClain Insurance team for hassle-free boat insurance.
Why Do I Need Boat Insurance
Its a reasonable question: If your state doesnt require boat insurance, why should you get it?
The short answer: Financial security. If a covered accident happens and you have the proper insurance, youre usually responsible for paying the deductible and insurance can cover the rest. But without insurance, you could get stuck paying out of pocket for the full cost of repairs to your boat legal costs or even someone elses medical bills. .
While your boat might be somewhat covered under your homeowners policy more on that below a separate boat insurance policy gives you more options for specialized protection. That includes increased physical damage limits, coverage under more situations , and medical payments coverage.
In short: Boat insurance is specifically designed to protect your boat almost anywhere you go over land, out in the water, and into storage.
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Factors That Affect The Cost Of Boat Insurance
Here are some facts to discuss with an insurance agent when thinking of buying Minnesota boat insurance. These include the areas you will be covered, i.e. US waters, international waters, coastal waters, etc. You also have to know the value of your boat and if you want replacement coast or not, plus you need to know what the best deductible is for your budget.
Just like if you buy auto insurance you have to consider things like liability and medical costs if someone is hurt or killed in a boat accident that is your fault. You might also need such things as coverage for wreckage removal and fuel spill liability, as well as your own personal effects and boats content.
Other possible coverage options are unattached gear or emergency package for things like towing, bringing you gas or oil if you run out, etc.
Do I Need Boat Insurance
If you are planning on purchasing a powerboat or a sailboat in the coming months, thereâs a good chance that you are looking into boat insurance as well. If this is the case, you likely have some questions about boat insurance companies and whether you need additional coverage. Well, you came to the right place! In this article, you will find answers the top 9 most frequently asked questions about boat insurance.
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Is My Boat Covered Under My Homeowners Policy
It might be. Of course, a separate boat insurance policy is designed to offer higher limits and more types of coverage, but your homeowners policy might have a few things already built in.
For physical damage: Some carriers limit the amount of coverage you can get under a homeowners policy, depending on the size or horsepower of your boat. An ERIE homeowners policy provides physical damage coverage for any watercraft up to $2,000.
As for liability coverage: It varies by insurance carrier. Some homeowners policies dont automatically cover liability for boats at all. Other times, you can add a small amount of liability coverage if you have a smaller or low-horsepower vessel.
An ERIE homeowners policy includes liability coverage for motored watercraft under 75 horsepower or for sailing vessels under 26 feet in length. You can also add watercraft liability coverage for up to four faster or longer vessels.
What Does Boat Insurance Not Cover
Boat insurance generally won’t cover maintenance or general wear and tear, including gradual weathering and deterioration, insect damage, mold, or damage from animals or marine life.
With Sign & Glide® On-Water Towing, Progressive will pay for on-water towing, jump starts, soft un-groundings, and fuel delivery if your boat is disabled on the water. or contact our dispatch center by calling , and we’ll make sure the tow operator is completely paid for and on their way to help.
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How Are Small Boats Insured In California
If you have a kayak, canoe, or small sailboat, then your homeowners insurance policy typically covers your property no matter where you bring it. But before you hit the water, you should keep a few things in mind.
Most importantly, make sure your small boat is listed under your home insurance policy. If its not, then talk to your home insurance company about adjusting your coverage to include your kayak or small boat. If you own a premium kayak or small boat, then you may need to talk to your insurance company about special coverage for valuable property.
Secondly, double-check your home insurance policy to understand exactly what sorts of events are covered. Typically covered incidents include fire, theft, lightning, or physical damage. But your specific policy will outline which perils are and arent covered, and these limits apply to your small boat as well.
Finally, remember that typical home insurance coverage for small boats extends only to property damage to your boat. If you hurt someone or damage property while using your kayak or boat, then you wont be covered by home insurance. To protect yourself from liability while using your small boat, we recommend looking at an umbrella insurance policy, which protects you from liability in all sorts of situations. If you already have boat insurance, then you can also talk to your boat insurance company about adding liability coverage while youre out on your kayak or small boat.
What Boat Renters Should Consider
As someone looking to rent a boat, here are some simple things to consider before renting out a vessel.
Where Can I Go?
When you plan to take out a boat, you should ask the owner are there any restrictions on where you can travel. If renting in the United States for example, the majority of boat owners will only allow you to travel on American waters.
There may also be restrictions on how far off the coast you can travel but this can easily be cleared up by simply asking the boat owner directly.
Usually the restrictions are to keep within 12 miles of the coast but this can vary.
What happens If I Damage The Boat?
This is another important question to ask the boat owner. Will the insurance company cover any damages to the boat or are you liable as the renter?
It’s important to be clear on this before heading out on the boat.
Does The Boat Owners Insurance Policy Cover Renters?
Seems obvious but it’s really important to ensure the boat owner has the correct insurance policy to keep you as the renter protected.
It’s also best to get this in writing too
Are There Any Scenarios Where I Might Not Be Covered?
As a renter, you should be crystal clear on how you might not be covered so as to avoid scenarios like that. The boat owner will provide you with the specifics of this and if they don’t, you can simply move onto another boat to rent.
What Exactly Is Covered In The Rental Insurance Policy?
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Do I Have To Have Boat Insurance In Tennessee
If you live in Tennessee and youre lucky enough to own a boat, the short answer is no, you do not need boat insurance. Although Tennessee law does not require you to carry insurance on your boat, you absolutely should. And if you think your homeowners policy covers your home on the waves, think again!
Specialized Boat insurance covers you in the event that your boat suffers a loss or is damaged. Boat insurance typically covers any boat with a motor, so if you own a kayak, canoe, paddle boat or personal watercraft , your homeowners policy probably does have you covered. Speak to your insurance agent to make sure youre covered and be sure to keep your kayak locked and stored in a secure location!
Does Boat Insurance Cover Engine Damage
Boat insurance sometimes covers engine damage. This varies from company to company, as well as by policy. Some insurance companies have machinery damage exclusions while others do not it often depends on the age of the motor. Reimbursement may include replacement cost or be subject to depreciation.
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How Are Boats And Watercrafts Insured In California
Insurance is complicated enough for car owners, but theres even more to think about for boat owners. How are boats and watercraft insured in California and what kind of coverage is available? Well take a look at what the boat and watercraft insurance requirements are in California, as well as the available insurance options.
Is Boat Trailer Insurance Required And Do I Really Need It
No state requires you to have boat trailer insurance, but that doesnt mean that it isnt a wise investment. As with most insurance, whether you need to insure your boat trailer really depends on many factors, including the value of the trailer, how old it is, how often you use it and whether you have the financial resources to replace it.
Evaluating those factors can help you determine whether boat trailer insurance makes sense for you.
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Shopping For Boat Insurance
Start with a little fact-finding. Ask your boating friends which company they use and how their claims have been handled. The way an insurer has handled claims in the past is a good indicator of the quality of service you can expect in the future.
State insurance regulatory agencies are also a good reference and can be found online.
Which States Require A Boat License
According to the United States Coast Guard and the U.S. Department of Homeland Security, the second most common boating accident is due to inexperience. This has led to 480 boating accidents in 2016 alone.
Boating is far less regulated than operating a motor vehicle such as a car. Only a handful of states require you to have an actual boating license, including:
However, even though most states dont require a license, they may still have other requirements.
Brad Goldberry, Agency Producer with Farmers Insurance says, State licensing differs from state to state, but many states require some kind of personal boating license or course.
Before you head out on the water, make sure you review your states requirements. Its always better to be safe than sorry.
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You’re Probably Not Required By Law To Carry Boat Insurance But That Doesn’t Mean You Don’t Need It
A few states require that you have liability coverage on certain types of boats powerboats with more than 50 horsepower or personal watercrafts , for example or on boats used in state parks or kept in state-run marinas. To find out if you are legally required to have insurance on your boat, search online for state and “boat insurance requirements.”
Even if your state does not require you to carry boat insurance, your bank will if you have a loan on the boat, and your marina might. You won’t be able to get a loan on your boat without providing the bank with proof of insurance that covers the full value of the boat in the event of a loss. The bank gets listed as the lien holder on the policy so that if any loss payments are made it will be listed as a co-payee on the check. Most marinas require proof of liability insurance before it will accept a contract for a slip or a mooring, and some will want to be listed as an additional insured on the policy.
How Much Does Boat Insurance Cost
According to trustedchoice.com, the cost of boat insurance generally ranges from $300 to $500 per year, on average. Depending on the type of boat and your personal profile, your insurance costs may be significantly higher. âThe type of boat, its length, and the expected use of the boat will largely dictate your boat insurance rates. Whether you have a speed boat, a small fishing boat, or a yacht will make a big difference in what you pay.â Another insurance comparison resource tells us that a good approximation for your annual premiums is 1.5% the current market value of your boat.
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Can My Trailer Be Covered By My Auto Or Homeowners Policy
Your boat trailer may have some coverage under your auto policy or homeowners policy. However, that coverage may not be adequate to protect your investment in your trailer under all circumstances.
Some auto policies will cover the trailer, provided the trailer is attached to an insured vehicle. Homeowners insurance can usually cover a trailer provided it is stored at the home.
Since coverage on a home and on a vehicle is different, you may have gaps in coverage for your trailer if you rely on either policy in the event of a loss.
Check the fine print and talk with a local agent to see if your trailer is covered and how much a boat trailer insurance policy will cost.