Friday, May 10, 2024

Is Boat Insurance Required In Missouri

How Much Does Boat Insurance Cost In Florence Ky

DIFP Weekly – Boaters Insurance

The average boat insurance policy in Kentucky costs around $250 a year. That is very little to pay for the peace of mind that a policy can afford you. Of course, there are several factors that go into calculating costs, so your quoted price may be higher or lower than this average amount.

Rates can be influenced by several factors:

  • The type of boat you are insuring
  • Your boats length and the size of its engine
  • Where the boat will be stored when not in use
  • Your driving record and claims history, both on and off the water
  • The amount of liability coverage you want to have
  • The amount of your deductible

The only way to find out exactly how much a boat insurance policy will cost you is to request quotes from a few insurance companies. Independent insurance agents make this easy by doing the legwork for you. Because they are independent, they can obtain customized quotes from a few competing insurers on your behalf.

Save on Boat Insurance

Will Insurance Cover Boat Repairs

Even a captain with the best preventive maintenance plan in place is likely to face boat repairs eventually. Whether your boat requires routine maintenance or it becomes damaged, knowing whether your insurance covers boat repairs can offer substantial peace of mind.

The following scenarios are commonly covered:

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Does My Boat Insurance Policy Cover Those Who Borrow My Boat

This blog was originally published on May 24, 2015. It was updated and re-published on August 9, 2018.

In 2017, the United States Coast Guard counted 4,291 recreational boating accidents that resulted in 658 deaths, 2,629 injuries and $46 million in property damage, according to a 2017 USCG boating survey. Ordinarily, having boat insurance should be enough to ensure that youll be covered if one of these accidents were to happen to your boat.

However, if your friend or extended family member happens to be behind the wheel of your boat in an accident, then youre actually not going to be covered. Boat-borrowing is a simple concept that becomes a tricky situation that a standard policy just doesnt cover.

Buying and purchasing insurance for a boat is similar to an automobile, but there are some key differences. But all in all, the first priority is safety. Youre going to want standard liability coverage as well as an umbrella policy to tie in all the loose ends. If youre letting someone borrow your boat, make sure all of the bases are protected. Heres how to make sure your boat has the proper coverage:

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Boat And Personal Watercraft In St Louis Mo

Float easy knowing your specialized boat insurance policy is just right for your boat or personal watercraft. Just like automobile insurance, we make boat insurance easy and affordable. Ask about discounts for bundling your policies!

Boat Insurance Options

Being an independent agent means we represent many carriers for a boat insurance policy! There are coverage options abound and you can get specialized coverage, such as Roadside Assistance, On-Water Towing, Total Loss Replacement and more.

Ask for a Boat Insurance Quote Today!

An agent from Goetz Insurance Agency, LLC will assess your coverage needs and wade through the many options available, presenting you with the best for your needs and budget.

Boat insurance covers a wide range of boats from personal watercraft to sailboats, fishing vessels to drift boats, no specialized policy needed! Ask your Goetz Insurance Agency, LLC agent about a quote!

Looking for Motorcycle Insurance? We sell that too!

Goetz Insurance Agency, LLC works hard to ensure youre covered on the water and that your coverage needs are met. Give us a call today at 314-720-1702 to start a quote. When shopping for boat insurance in St. Louis, there are some things you should keep in mind.

More coverage is available. An agent from Goetz Insurance Agency, LLC will go over all coverages with you so you can make an informed decision about what coverages are right for you.

What Does Boat Insurance Include

The Best Missouri Boat Insurance

When you purchase boat insurance, standard insurance will typically cover the following:

  • Bodily injury: If someone gets injured while on your boat, this will help cover legal and medical bills associated with the accident.
  • Property damage: This coverage will protect you if you are at fault in an accident that caused damage to another boat or property.
  • Collision: If youre in an accident, this will pay for the cost of repairing or replacing your boat. This coverage is usually optional however, a lender may require you to purchase it if youre leasing.
  • Comprehensive: This coverage will pay for repair costs if your boat gets damaged from something other than a collision this includes floods, storms, fire, theft, and vandalism.
  • Uninsured/underinsured motorists: If an uninsured or underinsured motorist causes damage to you or your boat, this coverage will help protect you.
  • Medical payment coverage: If youre involved in an accident, this coverage will pay for the medical costs regardless of who is at fault. Some policies will even cover funeral expenses.
There are also additional options you can add to your coverage, such as:
Keep in mind your insurance should cover all operators.

Talk to your insurance provider and make sure you have all the appropriate options added to your plan for your specific situation and climate.

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Types Of Boat Insurance Coverage

This will depend on the type of policy, but common coverage add-ons include:

  • Specialized Coverage: Coverage for something specific on your boat like an expensive prop or navigation equipment.
  • Salvage: Coverage that pays to remove your boat due to damage, from substantial to minor.
  • Consequential Damage: Covers a loss that was the result wear and tear rather than an accident .
  • Towing: Towing your boat across a body of water to safety can cost $400 per hour.
  • Cruising Extension: You can get temporary, additional coverage if you plan on leaving the USA .

What Youll Learn About Missouri Boat Insurance From This Webpage:

  • What is and what is NOT covered in a standard Homeowners Policy for your boat
  • Understand about the different kinds ofwatercraft insurance
  • Ways to save money on boat insurance
  • Missouri Boat Insurance coverages you may needdepending on what you do with your boat
  • Missouri Boat Insurance terms explained. What are you really getting?

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Who Needs Boat Insurance

Very few states have mandatory boat insurance laws. But that doesnt mean that you dont need it. Even if you arent concerned about damage to your vessel, there are significant liability risks associated with operating a boat. Should someone get injured while on your boat or as a result of you operating your vessel, you run the risk of exposing your personal assets to litigation if you dont have adequate insurance to protect yourself.

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The Cost Of Boating Accidents

Dave Swearingin – Understanding Boat Insurance – LIVE FROM CATCON KC, MO 2021

Take a look at some statistics from the Coast Guard for 2019 about boating accidents:

  • 4,168 accidents involving recreational boats resulted in $55 million in property damage.
  • 556 deaths and more than 2,559 injuries were due to boating accidents.
  • 70% of boating deaths were drownings.
  • 33% of deaths occurred when the driver had no boater safety instruction.
  • Open motorboats were listed in 47% of all boating accidents.
  • Alcohol was deemed the leading factor in fatal boating accidents.

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What Boat Insurance Policies Cover

How and where you boat determines the type of coverage you need. An “all risk” policy will offer the best protection. However, an all risk policy does not cover every type of loss. In insurance terms all risk just means that any risk not specifically omitted in the policy is covered. Typical exclusions include wear and tear, marring, denting, animal damage, manufacturers defects, design defects, ice and freezing.

You may also be able to add extra coverage. Available options may include: medical payments, personal effects, uninsured boaters liability, and towing and assistance. Most policies will cover permanently attached equipment, as well as items like anchors, oars, trolling motors, tools, seat cushions, and life jackets. Be sure to discuss these options with your agent.

Kentucky Boating License Fees

Boaters are in most cases required to either pay for their boating license, or to submit payment for the certificate of enrollment to their course providers. In Kentucky, individuals who want to operate boats or vessels are not mandated to pay any fees. However, when requesting a duplicate boat card, residents may have to submit payment for a $5 replacement fee.

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Save Money On Missouri Boat Insurance Quotes

Saving money on boat insurance is easy when you use an independent agency like Mid Rivers Insurance. We shop and compare rates on your behalf to find the most affordable rates on coverage that protects you and your boat, bow to stern. Our goal is to provide you with complete protection that does not cost an arm and a leg. We can also show you ways you may qualify for money-saving discounts, such as by taking a boater safety course or combining your boat insurance with other lines of coverage from the same insurer.

For more information about boat insurance or to request your free quote, contact our office today. We look forward to serving you soon.

We Insure Over 1 Million Watercraft And We Can Help Insure Yours Too

Boat Insurance in Chesterfield

With over 35 years of boat insurance experience, we know how to keep you afloat. So, as long as your boat or personal watercraft is valued at no more than $500,000 and is up to 50 feet long, well most likely insure it. Dont see your watercraft listed here? Call us at and well do what we can to get you covered.

Some of our coverages

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Boating Laws & License Requirements By State

Passing a boating safety course will give you a discount on boat insurance and will increase your water safety skills. Boat safety courses are an excellent investment of time and money, regardless of your state’s boating law. Each state has unique boating education requirements, and the boating rules, laws and regulations vary from state to state for obtaining a boat license or safety certification. Be sure to review the full legal requirements for your particular state.

Missouri State Highway Patrol -Water Patrol Division
Yes, state has mandatory boater education law that applies to some operators of boats and/or personal watercraft.

All persons must be at least 14 years of age to operate a motorboat or PWC legally unless under the direct, on-board supervision of a parent, guardian, or other person 16 years of age or older.

All persons born after January 1, 1984, who operate any vessel on the lakes of the State of Missouri must have on board:

  • A boating safety identification card issued by the Missouri State Highway Patrol and a photo I.D. or
  • A Missouri drivers license, or a non-drivers license with a boating safety endorsement.
  • The boating safety card is obtained by successfully completing a boating safety course approved by the MSHP.

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    Kentucky Boat Registration Basics

    Kentucky DMV boat registration documents are required for all mechanically powered vessels which are used in the state. Boaters cannot operate boats of watercraft without having them previously registered at the county clerks office.

    When operating water vessels, KY residents must have their boat registration certificates on board with them. To apply for a watercraft registration, boaters need to get the registration paperwork at either a county office or at the principal county office. Boat registrations expire on April 30 of each year.

    Note: Operators of boats and watercraft that are rented from a marina or boat livery must carry a lease agreement with them on board.

    Selecting A Boat Insurance Policy

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    When purchasing insurance for a boat, your options include liability coverage as well as a choice between an actual cash value or an agreed amount value policy.

    • Liability coverage. Whether you own a small rowboat or a luxury yacht, there is always the risk of a collision with another watercraft or an injury caused because of your boat. Thats why we recommend purchasing separate property and liability coverage. Liability limits typically start at $100,000 and may be as high as $1 million or more.
    • Actual cash value vs. agreed amount value. An actual cash value policy uses the market value of your boat to determine how much you receive in the event of a loss. Boat pricing guides and other resources are consulted to determine the value of a total loss, while the total cost of repairs minus depreciation determines the amount paid for a partial loss.
    • With agreed amount value policies, you and your insurer agree on the value of your vessel at the time you insure your boat. If you suffer a total loss, you are paid exactly that predetermined amount. In the event of a partial loss, you are compensated for the replacement of old items without deduction or depreciation.

    Before you head out to the lake, river, or ocean this summer, make sure you have the correct boat insurance policy. Your time on the water will be that much more fun and relaxing when you know youve got the protection you need.

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    Home Insurance And Your Boat

    One of the biggest reasons people might not purchase boat insurance is the misunderstanding that boats are covered under their home insurance policy.

    While your home insurance policy may provide very limited coverage to smaller boats on your property, the general rule of thumb is most large items that have their own specific type of insurance available to them can only be covered by that specific insurance. So, if you have a boat, your best bet is to have it insured with boat insurance.

    Why Do I Need Boat Insurance Is Boat Insurance Required

    If youre asking yourself these questions, consider the following possibilities:

    • What if your boat is involved in a collision with another watercraft?
    • What if you or someone else suffers an injury?
    • Or what if your boat sustains damage from a storm?

    Although boat insurance is not necessarily required by law in the state of Missouri , here are a few important reasons why you need to consider purchasing boat insurance to protect yourself from these and other hazards:

    • Home and auto arent enough. Except in the case of very small boats, your homeowners insurance will not protect you in case of a boating mishap. Some insurers will allow you to bundle home, auto and boat insurance, but your boat still needs its own separate policy.2
    • Want a boat loan? You must have boat insurance. Lenders require proof of insurance before you can get approval for a loan when purchasing a boat.3
    • Most marinas require insurance. Want to sign up for a slip or mooring at a nearby ? Have your proof of insurance ready. Some will also want to be listed as an additional insured on the policy.3

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    Insure For The Right Hull Value

    As a boat ages, it loses value, but lots of owners never adjust what insurers call the agreed hull value, the amount an insurer pays in a total loss event. If your boat is getting up there in age, say five to 10 years, it might be time to adjust the value. You might also discuss with your agent going with an actual cash value policyand if often gives a substantial savings, which can help reduce your premiums.

    Louisville Kentucky Insurance Specializes In Boat Insurance In Kentucky

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    Boats and personal watercraft are big investments, but if you love being out on the water, you know theyre worth it.

    So protect your fun investment with coverage thats designed with the boat lover in mind. Not with some standard coverage or add-on to your Homeowners insurance.

    Louisville Kentucky Insurance can help make your time on the water relaxed and worry-free. We will find you comprehensive protection that protects you, your friends and family, your watercraft and your boating equipment.

    The average boat costs less than a dollar a day to insure. Youll enjoy being on the water even more when you arent worried about your safety, the safety of your passengers, or your investment.

    Do you know what to look for in a watercraft insurance policy? Louisville Kentucky Insurance can help you determine the right amount of coverage to meet your specific needs. Just contact us today to get started.

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