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.
How We Chose The Best Boat Insurance
Here’s what we looked for when choosing the best boat insurance companies:
Coverage options and discounts We looked for companies that offered a comprehensive selection of insurance packages, coverage add-ons and policy discounts.
Customer satisfaction As we researched companies, we focused on those that receive mostly positive feedback on online review sites such as the Better Business Bureau and customer satisfaction studies by J.D. Power.
Financial strength We considered the financial strength of each company by looking up their rating from A.M. Best, a credit rating agency that focuses on assessing the creditworthiness of insurance companies. All our picks scored between A and A++.
Complaint index We evaluated every insurers complaint trend report from the National Association of Insurance Commissioners .
Gaining Boating Experience To Get Insurance
Do you dream of cruising but dont have years of sailing experience? For your own safety, youll want to learn as much as possible. But youll also need to document education to insure your boat.
Laura Lindstrom-Croop shares various ways to gain boating experience so you can insure your vessel. Or simply for your own peace of mind.
Getting ready to cruise? Prepare to Cruise gives you lots of free resources along with affordable recommended courses and coaching for more in-depth needs.
This is the fifth in her series on understanding insurance when you live on a boat. Check out her previous posts:
Lots of people dream of buying a boat and sailing away.
Some people save for years. Others cash out stocks or sell real estate. And some take out a mortgage to buy their dream boat.
But once you own your boat, whats next?
You have to insure it. And one of the first things the underwriter will ask about is your boating experience.
How does a new boat owner learn and gain boating experience?
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Best Practices For Boat Safety
There are thousands of recreational boating accidents per year, which can be costly in injuries and damages. Contributing factors to boating disasters include traveling too fast for water or weather conditions, driving under the influence of drugs or alcohol, failing to follow boating rules and regulations, carelessness and inexperience.
The best way to ensure your years of accident- and claims-free experience is to follow boating safety practices.
- Properly equip your vessel with required navigation lights and with a whistle, horn or bell. Have on hand plenty life jackets and emergency safety devices such as a paddle or oars, a first-aid kit, a supply of fresh water, a tool kit and spare parts, a flashlight, flares and a radio. Carry one or more fire extinguishers, matched to the size and type of boat and keep them readily accessible and in condition for immediate use.
- Before you sail or launch, check weather forecasts before heading out to ensure good boating conditions. Let someone know where youre going and when you expect to return. Check engine, fuel, electrical and steering systems, especially for exhaust-system leaks.
- When you have passengers and/or a load, pay attention when loading. Distribute the load evenly and don’t overload. In a small boat, warn passengers not to stand up or shift weight suddenly. Dont permit riding on the bow, seatbacks or gunwales. Make sure that every person on board the boat gets and wears a life jacket.
Our Top Picks For Boat Insurance
- Progressive Best for Policy Discounts
- BoatUs Best for Membership Benefits
- Foremost Best insurance packages
- Wreckage removal and fuel spill cleanup included
- Accident forgiveness and disappearing deductibles
- Coverage limitations for expensive watercraft, and for big boats in hurricane-prone states
Not every insurer includes in its standard coverage the removal of your boat if it is wrecked and damage from fuel spills. Progressive is among those that do, but there are limitations. Wreckage removal is covered only when it is deemed to be legally necessary, and fuel spills only to the limits of your liability coverage.
Progressive boat insurance policies include accident forgiveness which keeps rates from increasing if your claims are for $500 or less. Boaters whove been Progressive customers for at least four years and remained accident-free for three are exempt from rate increase for any boat accident, regardless of the claim amount.
For an additional cost, you may include a disappearing deductibles policy that deducts 25% from your deductible amount for every claim-free period on your boat policy until it reaches zero.
But Progressive has more limitations than some insurers on the vessels they will insure, and where they will do so. Personal watercraft worth more than $27,000 are not covered. In hurricane-prone states, insurance is not available for boats over 35 feet in length or that are worth more than $175,000.
Additional coverage options:
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Dont Rely On Your Homeowners Insurance To Keep Your Boat Afloat
Your new 20-foot boat is parked right alongside your house and shes your pride and joy. Unfortunately, you dont have the space to park her in the garage, so behind the house, behind the gate will have to do. You only bought her a couple of months ago, but youve already taken her out at least two dozen times. You make sure to take the gear out and the motor off every time you come back from fishing. But last night, it was late and raining sideways and you were glad that you and the boat had made it out of the water and home safe and sound. You decided youd clean her up later onafter work the following day.
So, you arrive home from work and wander outside to wash the salt off the motorbut something feels funny. You open the latched gate to your backyard and theres your boat butno motor! No kicker! No rods! No nets! No fish finder! HmmMaybe your wife took care of it and put it all in the garage?
But, no! Slowly it dawns on you. Somebody wandered into your backyard and stole your motor and your gear. You cant believe it! Surely its insured, right? Butyou never got boat insurance.
Some boat owners may assume that their boat is covered under their homeowners insurance policy. But in fact, there is only limited coverage for damage to a boat on your homeowners policy. And, generally, the loss must occur at your home.
The solution is a Boat Insurance Policy.
How Does Boat Insurance Work
Boat insurance works similarly to car insurance, but it covers the financial loss of large boats instead of automobiles. You generally pay a set monthly fee for coverage on your boat, and in exchange can place claims against financial loss or damage for things related to your boat. When the claim is received by the insurance provider, they will investigate to determine the fault of any accident, what the damage costs are, and how much should be covered. Once that is complete, the insurance carrier will send you a check for the amount of coverage you are entitled to for whatever claim you submitted.
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Do I Need Boat Insurance
Some states require boat insurance. Also, if you dock your boat or finance it, the marina or lender will probably require coverage.
But even if your state doesnt require it, consider the implications of going without boat insurance. If you get into an accident, youll be on the hook for your own repairs and your liability to others. With the average boat insurance claim hovering around $11,000, according to The Hanover Insurance Group, not having coverage could put you in a sticky financial situation.
The type of insurance you need will depend on the vessels size, type and value:
Small boats. Standard homeowners or renters insurance policies often cover smaller boats like canoes or small sailboats, but usually have limited property damage coverage. While a homeowners insurance policy typically provides coverage for the small boat, motor and trailer, it excludes liability insurance. But its possible to add boat liability coverage to your home insurance policy for an additional charge.
Larger boats. If you have a larger and faster vessel like a yacht, you will need to purchase a boat insurance policy. Depending on the boat accessories you have, you may need additional insurance such as trailer coverage.
Also, to increase your liability coverage limits, consider umbrella insurance. It provides extra liability protection for your auto, home and boat, such as extra insurance in case youre sued for a costly boating accident.
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.
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How Much Does Boat Insurance Cost
A variety of factors influence boat insurance rates that includes type, length, speed, and age of the boat, as well as your age, boating experience, and credit history. Typically, depending on whether you are considered a high-risk or low-risk boat operator, insurers offer multiple ways to lower your policy rate.
Most common discounts
Just like car insurance companies reward experienced drivers with a clean driving record, insurers are more likely to reward boat operators who take the most safety precautions with their boats. Each company offers popular discounts that can help you keep money in your wallet. Most companies apply discounts for:
Find Cheap Homeowners Insurance Quotes In Your Area
Most states don’t require boaters to purchase insurance for their watercraft. However, many marinas do require some form of insurance if you wish to use a slip or mooring. Additionally, your bank will require insurance if you are financing the purchase of a boat. Even if these requirements don’t apply in your situation, it’s still generally a good idea to get boat insurance.
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How Can I Get The Best Mexican Boat Insurance
Well, the answer is quite simple. You search for the best insurance products out there in the market, get quotes, compare the options, choose the policy that fits your requirements and buy it. But no matter how short of a time you have, always remember to get your insurance before you start your trip. This will save you lots of money and give you better choices.
You can start your Mexican boat insurance search from your existing insurance provider. Look into whether your existing provider has any link-ups with any Mexican insurance company and can thus guide you to a trusted and genuine insurance provider. If this method does not lead you to the policy you seek, you can always search online portals and review sites to get referrals from the best boat insurance providers.
How To Get Your Boat Ready For Summer
AUTHOR: Economical Insurance | June 10, 2021CATEGORY: Home and Property Insurance, Specialty Insurance,
Getting ready to take your boat out of storage for the summer? Be sure to check this list of maintenance steps for a safe start to the boating season.
After sitting in storage over the winter, your boat needs to be cleaned and prepped before it spends another summer in the water. While summer boat maintenance is a lengthy process, be sure to check these seven steps off your to-do list before leaving the dock:
In Canada, you are required by law to have a floatation device for each person on your boat. To keep everyone safe, inspect your floatation devices for holes and tears each year and replace any that are damaged.
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Learning On Your Own Boat
If you have already bought your boat, try hiring a sailing instructor or USCG captain to work with you on your boat. They can teach you a lot in a short amount of time. And youre learning on your vessel.
Move on board as soon as possible. Even tied to the dock, you can learn a lot about your boat and liveaboard life.
Are Loaded Longboards Right For Me
Although the longboard style of skateboarding has been popular for quite some time Loaded longboards are an enticing possibility for riders who have moved beyond the beginner level, and have started to learn about features that are most advantageous for their type of longboard riding.
Types of Loaded Longboards to Consider
The company is based in California and currently has six skateboard models to choose from. Some of the differences between the models include the overall length, and the size of the wheelbase. The boards are also designed with eye-catching patterns so riders can glide in style.
All of the boards are built for high-performance, but some have features that cater to specific types of riding or environments.
For example, some skateboarders prefer to spend most of their time at nearby skate parks. These areas feature large pavement spaces and hills that are perfect for achieving impressive speeds. Another advantage of skate parks is that they allow people to share tips and get encouragement from other riders. The skateboarding community is generally very close-knit and supportive of each others efforts. People who want to ride Loaded longboards at a skate park might prefer the Fattail model. Its perfect for paved areas and parking garages, and also has a large tail to promote quick turning ability.
Purchasing Loaded Longboards
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How To Know Youre Getting Adequate Boat Insurance
Adequate Boat Insurance
If you own a boat, yacht, or other watercraft, you will likely want to protect your investment, as well as stay within legal operations by following state laws pertaining to boating. Having adequate boat insurance is a component of boating that is essential to keep you and your boats protected while on and off the water.
Our agents at StateChoice of West Hartford, CT understand the importance of having adequate boat insurance when you are enjoying the waterways in Connecticut. We can help you find the right policy customized for your specific needs.
Types of Boat Insurance
To understand if you have adequate boat insurance it is helpful to know the most common types of insurance available. Here are types of boat insurance:
- Liability Covers legal expenses and other legal liabilities arising from bodily injury or damages to other peoples property as a result of your boats operations.
- Medical Payments Can pay for medical expenses like hospital stays, ambulance, and other costs of people injured on your boat.
- Uninsured/Underinsured When other boaters that do not have liability insurance cause harm or damages, this type of coverage protects you.
- Personal Property Sporting goods, fishing equipment, and other personal belongings can be covered with personal property insurance.
- Physical Damage Collisions with objects in the water such as docks, as well as fire and vandalism are some damages that this kind of insurance covers.