Wednesday, June 19, 2024

Do You Have To Have Insurance On Your Boat

What Boat Renters Should Consider

Do you have the proper boat insurance coverage?

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?

Who Offers The Best Boat Insurance Rates

Many insurance companies offer competitive boat insurance rates. Shop around to make sure you are getting the information you need to make an informed decision. Sites like and provide reviews for many different insurance companies and are great places to begin your research. Speak with other boaters find out what features are important to them and why. Do your homework by researching different companiesâ offerings and you will be prepared to make the best decision for your needs.

Are There Speed Limits On The Water

Yes there are speed restrictions when operating a boat in Alberta.

Canada’s Vessel Operation Restriction Regulations – jointly administered with some provinces and municipalities set out the restrictions for the operation of small boats on specific bodies of water in Canada, such as speed limits, power limitations, or when and where certain activities, such as waterskiing, are permitted.

When boating in Alberta you must observe a speed limit of 10 km/h within 30 metres of the shore. This limit applies on all waters within these Alberta, except where other limits are posted. These provisions do not apply in rivers less than 100 metres in width, canals and buoyed channels, nor in the case of waterskiing, where the towboat launches and drops off skiers by heading directly away from or into the shore.

Where can I get more information on Boating rules in Alberta?

You can find more information on a number of government websites:

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Does Homeowners Insurance Cover My Boat

A typical homeowners policy covers liability for damage to property and bodily injury to others when the watercraft is a sailboat under 26 feet, or when it is powered by an outboard motor of 25 horsepower or less. However, theft and sea perils, including sinking, stranding, running aground and collision, are surely not covered without having a specialized boat insurance policy. Not having the proper insurance or at least adequate boating insurance can cause headaches and heartaches. Protect your investment and your assets and get ready before the season starts. The more boats out on the water, the more accidents will happen CALL or CLICK TODAY!

When it comes to liability, your homeowners insurance may protect you, but only if you have that very small boat, etc. Homeowners insurance may perhaps cover the physical damage to your boat, but it may only cover the damage while it is on your property, and only to a very limited extent. This of course varies from state to state. Again, for specifics on the issues of what is or is not covered with your boat, let Capital Gate evaluate your policies so together you can make the right decision for the coverages that you need!

With that, some homeowners insurance policies can in fact provide coverage for wind and hail damage, but with some weird caveat, such as if the boat is located in a fully-enclosed building like in a shed or garage, and on your property. This is why you need to know your own policy and exactly what it covers!

Is My Boat Covered Under My Homeowners Policy

Boating Season Begins: Do You Have the Right Boat ...

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.

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Get A Boat Insurance Quote

Nationwide provides insurance for many boat types, including bass boats, deep-sea fishing boats, ski boats, sailboats, pontoon boats, utility boats, speed boats and cabin cruisers.

Ready to get a quote? Call 1-877-669-6877 anytime or visit our boat insurance page and enter your zip code to begin the process.

When getting a quote, be sure to take advantage of Nationwides boat insurance discounts, including a discount for completing a boating safety course.

Renting Directly From Boat Owner

There are some sites where you can reach out directly with a boat owner and charter their boat. You should be extremely cautious in scenarios like this as you could end up with no insurance coverage at all!

Sites like Craigslist can be the wild wild west and isn’t advisable in most cases.

But if you still would prefer going down this route, make sure to ask the boat owner exactly what is coverage and what you as the renter are liable for.

With so many safer options to rent a boat and be protected, this should be a last resort.

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What Is Boat Trailer Insurance And What Does It Cover

Boat trailer insurance is a specialized type of vehicle insurance policy that applies to trailers specially built to transport a boat safely from a home to a lake, river or ocean.

Some boat trailers can be covered as a special rider attached to a vehicle or homeowners policy, but because these items are so specialized in terms of how theyre used, it is often a good idea to get separate trailer coverage.

Boat trailer insurance generally covers damage to the trailer, whether its stored at home or at a recreation area. Your policy can also cover theft as well as liability coverage in the event that your trailer causes damage to another vehicle, trailer or boat or injures another person.

Eight Things You Need To Know About Boat Insurance

Quicksilver- A must have for your boat!!1

Its now officially spring, and spring means warmer weather. Warmer weather means finally taking the boat out of storage and going to the lake, right? As the temperature creeps upwards, it becomes more and more inviting to get out on the water. Swimming, tubing, picnicsall top-notch warm-weather fun. But before you set sail, you need to understand the essentials of boat insurance.

If you have a boat, there are a few things you need to know to make sure that you have the right coverage for your watercraft. Like a lot of fun things, boats are dangerous. And thats where insurance comes in. Below weve come up with the top eight things you need to know when it comes to insuring your boat.

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Am I Covered In The Winter

While your boat is stored during the off season, you may wonder why you need coverage. However, a lot can happen when a boat is in storage including fire, theft or other damage and a boat policy is a smart way to protect your investment year-round.

Ready to set sail? Find an ERIE agent in your neighborhood to get a personalized boat insurance quote.

*Coverage is subject to policy provisions. See individual policies for specific coverage details. Certain terms and limitations may apply. ERIE’s Boat Protector Policy is not available in Kentucky. Refer to our disclaimer for additional information.

Boats Required To Register

New York registers recreational powerboats operating in state waters. Unlike some states, it requires registration for Coast Guard documented vessels used exclusively for recreational purposes. Documented vessels dont need to display New York registration numbers on their bows, but do need to display a current registration sticker. You can operate a boat registered in another state in New York for up to 90 days. New York exempts documented commercial vessels, lifeboats, racing boats and boats that dont use any type of mechanical propulsion from registration. A tender with a small outboard is not exempt a tender that you always row is exempt. The state requires registration for sailboats with auxiliary motors.

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Do I Need Boat Or Jet Ski Insurance And Other Faqs

The weathers finally heating up after a long and drawn-out winter and most everybody is in the mood to celebrate that fact. If you have a boat, chances are that means youre getting her out of storage and hitting the lake, the bay, or even the ocean. That makes this spring the perfect time to discuss boating, jet ski, and other watercraft insurance.

The most common question we hear from boaters is: Do I need boat or jet ski insurance? While you dont legally need it, you DEFINITELY SHOULD have boat insurance. Were not just saying that because Unruh Insurance is an insurance agency, but because Unruh Insurance is owned by two boaters, Kent and Curt Unruh, both of whom have comprehensive boat insurance.

Kent Unruh keeps his boat at Raystown Lake, while Curt Unruh prefers taking his boat out on the Indian River every spring and summer. This makes Unruh Insurance double-qualified to answer all of your boat insurance questions.

Find out why you need boat or jet ski insurance as well as get the answers to your boat insurance FAQs.

Can Someone Of Any Age Operate A Boat

Do You Have to Have Insurance on a Boat?

No, there are age restrictions in effect for operating a boat. Restrictions designed to protect the safety of children, prohibit operators under the age of 16 from operating pleasure craft above specified horsepower limits:

  • Children under the age of 12 may not operate a pleasure craft with more than 7.5 kW without adult supervision.
  • Children between 12 years and 16 years of age may not operate a pleasure craft with more than 30 kW without adult supervision.
  • Only persons 16 years of age or older can operate a personal watercraft, regardless of supervision.

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Florida Boat Insurance Deductibles

Every policy has a physical damage deductible, which may be a percentage of your boat’s value or a certain dollar value, such as $500. There may also be a separate deductible depending the type of boat you have. Sailboat insurance, for example, often has a separate deductible for the boat’s mast.

As a boat owner in Florida, you’ll also want to note if your boat insurance policy contains a hurricane or named-storm deductible. Due to Florida’s hurricane and tropical storm risk, insurers often include a second named-storm deductible, which can be as high as 10% of your boat’s value.

How Does Boat Insurance Work

Boat insurance works the same way as car insurance does. If you damage your boat or cause injuries or damages to someone else, you file a claim with your insurer asking them to pay for the damages. If the incident is covered, your insurer pays for the losses or injuries up to your coverage limits.

Important note: One of the biggest myths about boat insurance is that you dont need it because you’re adequately covered under your home insurance policy. While your home’s policy may provide some protection for a smaller boat while it’s on your property, it won’t offer the coverage you need on the water especially if you’re operating a powerboat.

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How Much Do I Have To Lose

Your goal when purchasing physical damage insurance is to be restored to same financial position that you were in before a loss. If you over-insure your boat you will pay more premium than you need to, and if you underinsure your boat, your investment is not fully protected. To get the right amount of insurance, you want to insure your boat with a limit that is equal to the boats current Market Value.

Market Value is the price that a similar boat would bring in a market of willing buyers and sellers, each operating without any pressure or constraints. Or to put this a little more simply, market value is the price you would get if you could sell your boat the day before an accident happens. This is how much you have to lose.

If you just bought your boat, the purchase price is a good indicator of market value. If youve owned the boat for a while, you can get a good idea of the current market value by checking the listing prices of comparable boats on websites with classified listings. Although keep in mind that list prices are just asking prices and actual sale prices will be lower by 10% to 15% due to negotiations.

What Is The Best Type Of Boat Insurance

Boat Insurance – 5 Keys to Getting the Maximum Protection for Minimum Premiums

The best type of boat insurance is insurance coverage that adequately meets your legal and contractual obligations and allows you to feel comfortable about your exposure to risk. Because each individual situation is different, it is important that you determine what coverage factors matter most to you and your family. Spend time researching your options and speak with multiple insurance brokers or agencies. has an excellent review of boat insurance providers.

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Is Insurance Required To Register A Boat In The State Of New York

You dont need insurance to register a boat in New York as of 2011, but the state does require insurance to register a boat trailer. New York law requires registration for pleasure boats propelled by motors whether you use the engine all of the time or just occasionally. While the state does not require boat insurance, lenders generally do if you borrowed money to buy the boat.

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.

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Coverage For Your Boat While In Transit

Youd been searching the craigslist boat ads for a while. Its become your biggest pastime in the last few weeks. And this morning, you were restless at 5:00am, finally got up at 6:00 , and checked craigslist again. And there it was: a brand new listing from midnight.

The perfect boat. The perfect price. Exactly what you were looking for. Call anytime! You called, agreed to meet the seller at 8:00am, and hit the road.

Now its 10:00 am and youre on the road home with your new boat.

Suddenly, you hear a screech! Check the rearview mirror Darn! The boat looks lopsided. Crooked.

Somethings weird. You slow down, start merging over to the shoulder, but then it happens. You hear metal scraping on the pavement and you watch as the trailer comes loose, spins out into the next lane, and come to a halt.

A semi-truck swerves unsuccessfully to avoid impact, but both your boat and the semi are damaged in the collision.

Now what?

While in transit, the liability protection on the auto insurance policy of the towing vehicle will extend to cover damage or injury to others that is done by your towed boat and/or trailer, if you are negligent.

This is a good reason to check your auto liability limits to make sure that they are adequate damage to a large semi-trailer can be hundreds of thousands of dollars!

In the example, the damage to your boat and trailer would be covered by your Boat Insurance policy, if you had one.

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