Best For Emergency Services Coverage: State Farm
- No. of Policy Types: 1
- Coverage Limit: Varies
State Farm is a well-known insurance provider that offers additional coverages including emergency services reimbursement.;
Coverage for houseboats and jet-skis
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In business since 1922, State Farm is one of the best-known names in insurance in the United States. They offer;boat liability and property damage insurance for common risks like storms, collision, theft, and more, with add-on coverage options available . Their property damage coverage extends protection not only to equipment permanently attached to your boat but also to accessories such as detachable canopies, life preservers, and seat cushions. State Farm has resources available for boat owners including articles on boat trailer safety tips, boat safety, and water safety. Boat insurance is available for a multitude of watercraft: runabout/sport boats, cruisers/yachts, sailboats, bass boats, jet skis, houseboats, and kayak/canoes.
What Does Average Boat Insurance Cover
And now we get to perhaps the most important question here: What does boat insurance actually cover, anyway?
A lot of things, varying from policy to policy.
Take the time to customize your boat insurance plan to suit your needs. Carefully select what you and your family need, given your specific circumstances. To get you started, here are a few of the things covered by the average boat insurance policy, and that most boaters;consider very important:
If someone is injured in a boating accident thats found to be your fault , then your boat insurance plan will likely cover a good chunk of the medical expenses associated with the boating injuries.
This is also true if you or someone on your boat is hurt in an accident thats someone elses fault. This is important, especially if the other parties involved made the poor choice to skip getting boat insurance!
After a boating accident, regardless of whether there were medical bills, there are often legal costs. These could be potentially ruinous if you dont have good boat insurance coverage in place.
If your boat is involved in an incident that causes property damage to another vessel, a dock or part of a marinaor even simply to itselfyoull be glad you have boat insurance when the repairs or replacements are covered by your insurer, and not your personal bank account.
Comparing Boat Insurance Providers
Owning a boat is a major expense and you should choose your boat insurance provider with care. Remember to research the company and check out its ratings and reviews. Some other things to keep in mind when comparing providers include:
- Coverage options: What type of coverage is offered? Make sure you understand the different plans and if things like running aground or hitting the dock are covered.;
- Pricing: Know how much youre paying for coverage and what that includes. Also, keep due dates in mind and if a downpayment is required.;
- Discounts: What discounts does the provider offer? Some things to ask about are bundling discounts, safe boater discounts, age-based discounts, and discounts for experienced boatmen
- Specializations: Know if the provider specializes in marine coverage and make sure the agents are knowledgeable because it is much different than auto insurance. Some companies specialize in recreational boating and others specialize in commercial boating and yachts.;
- Coverage Exclusions: Research ahead of time what is not covered so you know before you choose a policy. Some providers wont insure boats that go above a certain amount of knots and others wont insure boats with aftermarket parts.;
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Factors That May Impact Boat Insurance Costs
Boat insurance costs will vary based on many factors.; Insurance companies use their own expertise to determine which factors they use and how they are weighted.
These factors may include but are not limited to:
The type of boat being insured.
The value of the boat being insured.
The intended use of the boat.
The location of the boat.
The age of the boat.
The size of the boat.
The size of the engine on the boat.
How often the boat is used.;
The owners years of boating experience.
The owners credit history
The owners boating safety education
The type of policy being purchased.
Lets dive into each of these.
Unfortunately Accidents Happen Even On The Water
A specialized Boat Insurance policy covers your boat or personal watercraft, as well as its motor against potential loss due to:
- Collision with another boat or object
- Damage caused by uninsured or underinsured boaters
Your policy also extends to protect extra equipment attached to your boat such as anchors, oars, canopies, life preservers, and fuel tanks. Coverage for fishing equipment and personal property is also available.
Liability insurance can help pay for medical expenses or legal costs if you are at fault in a boating accident. Coverage options include;bodily injury payments,;damage to anothers property,;medical payments,;guest passenger liability, and more.
Additional Coverage Options
At Wells Marine Insurance, we make insuring your boat or personal watercraft easy and affordable by offering extended policy benefits like;On-Water Towing;and;Roadside Assistance;when traveling with your boat.
You may also be eligible for;money-saving discounts;when you insure multiple watercraft or when combining your Boat and Auto policies. Even simple things like being an accident-free boater and completing a boating safety course can help you save money too.
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North Carolina Boat Insurance
Various boat insurance rates in North Carolina can provide security to boaters, although the law does not require boat owners to have coverage. A lending company may require that you purchase a policy if you have a lien on your boat.
Boat insurance quotes in North Carolina are readily available online or by phone through many providers. You may be able to bundle insurance policies through some providers, as some may offer boat coverage, home insurance policies and/or auto insurance.
Boat Insurance In North Carolina
You bought a boat to relax. By covering it through American Harbor Insurance, you can do just that. Well help you spend less time searching for coverage or handling paperwork and more time out on the water. Our independent insurance agents will find the right coverage that protects you, your passengers, your boat, and all your boating accessories.
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Boat Insurance From Experts Boatus And Geico Have Teamed Up
Login to My Account, the place to conduct all your BoatUS business online on one secure site, anytime, anywhere. Make a payment and manage autopay options, view your policy summary, retrieve policy documents, upload claim photos and documents, update your credit card, contact and boat information, and more!
BoatUS and GEICO have teamed up to bring boaters a great boat insurance policy at a great price. Serviced by boating experts, and backed by the nations second largest auto insurance company, our coverage options for boaters of all kinds cant be beat.
Check out our policies and add-on coverage options for a custom policy you can only find here.
North Carolina Boating Rules And Regulations
Certain boating regulations are developed specially for NC residents to follow while driving motorized vessels and watercraft. These boat requirements are used to help drivers maintain safety on state waterways. Doing this allows passengers, swimmers and wildlife to be protected from unsafe driving practices.
Furthermore, natural areas remain protected when boaters respect their surrounding while using recreational boats. The following boat requirements should be followed:
- Coast Guard approved lifejackets should be on board for those required to wear life vests.
- All children below age 13 must wear a lifejacket at all times when riding on water vessels.
- Driving boats while under the influence of alcohol or drugs is against the law. Boaters can receive fines, tickets and/or be arrested for this type of behavior.
- Every boat owned in the North Carolina must be registered with the state Wildlife Commission.
- Boats above certain lengths should maintain approved whistles and bells.
Drivers can find further boating rules in the official state boaters guide.
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What States Require Boat Insurance
As of right now, only two states have boat insurance lawsâArkansas and Utah. In Arkansas, all motorboats powered by engines of more than 50 horsepower, and all PWC, must be covered by a liability insurance policy. The policy must provide at least $50,000 of liability coverage, and it is illegal to operate the PWC without the required insurance.
In Utah, all motorboats and PWC are required to carry ownerâs or operatorâs liability insurance when operated on Utah waters. Motorboats equipped with engines less than 50 horsepower and airboats are exempt. It is illegal to operate a PWC on Utah waters without the required insurance.
Utahâs boat insurance policy requires the following minimum coverage limits per occurrence:
- $25,000 for bodily injury per person.
- $50,000 for total bodily injury if multiple people are hurt in the accident.
- $15,000 for property damage.
There are some instances of states requiring insurance for boats used in some state parks or kept in some state-operated marinasâcheck with your state marine board or alternative governing agency to see if you are impacted.
How Much Will Boat Insurance Cost Me
11 Minute Read | September 22, 2021
Boats are a highlight of summer! Theyre flashy, fun . . . and freaking expensive to repair or replace. Thats why its better to pay for boat insurance than to hope youll get by with zero accidents.;
Boat insurance protects you financially if your boat is involved in an accident where property gets damaged or someone gets hurt. On average, boat insurance costs $200 to $500 a yearor around 15% of your boats value if you have a big, powerful or expensive boat.
Lets talk about what affects the average boat insurance cost, what it covers and where to get it.
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Replacing Your North Carolina Boat Registration
You should know how to replace your boat registration in North Carolina because you must request duplicate credentials as soon as possible once discovering that your documents have been damaged, lost or stolen. NC does not offer boaters the ability to replace a boat registration online, but you may send in your request by mail to the address provided above. Simply complete the Vessel Title Request Form and mail it with a check or money order for the $8 fee.
The Intended Use Of The Boat
A boats intended use can also determine how much the insurance company will charge a boat owner.; This is especially true if the boat is being used for commercial purposes.
For example, a commercial fisherman or lobster hunter will usually pay a lot more for insurance than a person who uses their boat recreationally.
This is especially true if the person is using their boat as a charter or ferry boat.
Even the types of activities on the boat can affect the pricing of the insurance policy.; For instance, a tour boat that serves alcohol will have a higher risk profile than a boat that does not.
In this case, the boat owner may have to add additional insurance riders onto their base plan.
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What Happens If You Dont Have Boat Insurance
The reality is that one bad accident in your boat could cause long-term, serious financial harm in your life. Without boat insurance, you have to pay out of pocket if youre sued because of property damage or bodily injury caused by your boat. You also have to pay the total cost to repair any damage to your own boat or to replace your watercraft after a major accident. And if an uninsured boater causes damage to your craft, you have to pay that, too.
Bottomline: Its potentially very expensive to go without boat insurance.
Which Comes First: The Boat Or The Boat Insurance
If you are in the market for a boat, it’s a good idea to consider shopping for insurance first before signing your boat purchase paperwork. Insurance rates can vary, so you may want to factor in the cost of your coverage as you determine which boat you can reasonably afford.
Try narrowing your purchase choices down to two or three boats, and then take information about their specifications to a local independent agent.;
Your agent will get quotes from several insurance companies for you on your potential purchases. You can then determine for yourself which boat will ultimately be better for your needs and budget.
An independent agent in your area can help you evaluate boat insurance rates and options so you can enjoy the water and have peace of mind. If youre thinking about getting a boat, contact a local agent today and get the vital information you need for your best protection.
TrustedChoice.com Article | Reviewed byJeffrey Green
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Is Boat Insurance Required
*Boat and PWC coverages are underwritten by GEICO Marine Insurance Company. The TowBoatU.S. Towing Coverage Endorsement is offered by GEICO Marine Insurance Company, with towing services provided by the BoatU.S. Towing Program. Towing coverage only applies to the insured watercraft. This endorsement is not available in all locations and is subject to certain restrictions. Towing coverage is subject to availability and service may be restricted based on the location of the insured watercraft or trailer. Please speak to an agent to discuss details of towing services, limits, exclusions and coverage availability.
The above is meant as general information and as general policy descriptions to help you understand the different types of coverages. These descriptions do not refer to any specific contract of insurance and they do not modify any definitions, exclusions or any other provision expressly stated in any contracts of insurance. We encourage you to speak to your insurance representative and to read your policy contract to fully understand your coverages.
BoatUSâBoat Owner’s Association of The United Statesâis the nation’s largest association for recreational boaters providing service, savings and representation for over 50 years.
For Most People Owning A Boat Can Be A Dream Come True Whether You Are Out On The Water With Friends Or Enjoying A Relaxing Day Of Fishing Your Boat Provides An Escape From The Daily Grind
With a Boat Owners policy from Wells Marine Insurance, you can cast your worries aside, and enjoy your time afloat knowing that you are properly insured. We offer many coverage options to keep you, your vessel, and its passengers safe.
We specialize in coverage for the following marine vessels:
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What Is The Best Type Of Boat Insurance
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. Allthingsboat.com has an excellent review of boat insurance providers.
Get A Boat Insurance Policy To Protect Your Investment
Boat insurance helps you enjoy peace of mind as you navigate your boat or personal watercraft . So if you travel across lakes, rivers, or ocean waters of the United States we can help. Whether you’re looking for a new boat insurance policy or just to save money on an existing policy, we’re can help you get started with a free boat insurance quote.
Make boating better, together. Experience and a name you can trust go a long way when you’re shopping for boat insurance. That’s why the GEICO Marine Insurance Company has teamed with BoatUS, the nation’s largest group of recreational boat owners. Since 1966, BoatUS has been helping to make boating safer, more affordable, and fun. Together, we share a passion for all things boating.
We all want cheap boat insurance rates, but customer service is what matters. Protect your investment with boat insurance you can count on and get your free online boat insurance quote today.
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Do I Need Boat Insurance For A Non
Depending on where you live, you may not be legally required by the state to carry boat insurance for a non-motorized boat, but that is not the only reason to insure your boat. If you have invested in a sailboat, kayak, canoe, or RIB , boat insurance will protect your investment if the watercraft is damaged during an accident. It should also protect you if a claim or lawsuit is filed against you.;
The Size Of The Engine
A boats engine size will also dictate how much insurance is needed to cover the boat.; Larger engines cost more to maintain, repair, and replace.
If your boat has multiple engines, this will incur more insurance costs.
When a boat with multiple engines is destroyed, all of the engines need to be replaced.; Insurance companies will take this into account when they write up their policy.
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Coverages Provided By Boatowner And Yacht Policies
Physical damage coverage typically allows for the repair or replacement of your boat if it is damaged or destroyed by fire, theft, lightning, vandalism, collision or windstorm . Covered items include the boat itself, inboard and outboard motors, the boats trailer, and may include some personal property kept aboard the boat. However, your personal effects are not covered. Some insurance companies offer separate coverage for fishing equipment, cell phones and computers that you use aboard the boat.
Your liability coverage will pay for bodily injury and property damage for which any covered individual becomes legally responsible. This coverage generally includes a provision to remove or destroy a wrecked or sunken vessel, if required by law. The boatowners and yacht insurance policies may also contain a life salvage provision, which will reimburse the costs incurred by others to save the lives of insureds involved in a boating accident.
This coverage pays for reasonable and necessary medical and funeral expenses due to a boating accident. The coverage is usually limited to $1,000 per person; however, the limit may be increased for an additional premium.