Tuesday, May 21, 2024

Will Homeowners Insurance Cover My Boat

Do I Need To Have Boat Insurance

Is my boat covered under my Homeowners Policy? – Boat Insurance Basics

Although boat insurance is only legally required in a few states , you shouldnt go without it in most cases. If you end up in an accident or stranded out in the ocean somewhere, youll be glad you have it.

Its recommended that you obtain boat insurance if you own one of the following types of boats:

  • Personal watercraft
  • Motorboats

Conversely, if youre just using a canoe, a small-engine boat, or an inexpensive boat worth less than $1,000, you may not need boat insurance.

Boat Insurance Coverage Faqs

Small Boat Insurance

What is the best coverage for my boat?

It is best to have what is known as an “All Risk” policy, which will provide coverage for all types of losses except those specifically excluded in the policy. Typical exclusions may include wear and tear, gradual deterioration, marring, denting, scratching, animal damage, manufacturer’s defects, defects in design, and ice and freezing.

How much should I insure my boat for?

You should insure your boat for the amount it would cost you to replace it with like kind and quality. This is called “Agreed Value” or “Stated Value” coverage, and in the event of a total loss, will pay the full insured amount. Beware of policies providing “Actual Cash Value” coverage, which means the value of your boat will be replacement cost less depreciation.

What other coverages can I expect with my policy?

The following are standard coverages with standard deductibles and average limits:

  • Medical payments, $5,000
  • $1,000 limit Personal effects, $250 deductible
  • Uninsured boaters liability, between $300,000 and $500,000
  • $500 to $1000 limit Towing and assistance, no deductible
  • $1,000 limit Fishing equipment, $250 deductible

Who is allowed to operate my boat?

I live in an area where I can’t use my boat in the winter, but my lender requires it be insured year-round. What can I do?

Large Boat Insurance

What are the differences between boat and yacht insurance?

What should I look for in a yacht policy?

What is a normal deductible?

What Is My Boat’s Value Under An Insurance Policy

Your boat’s value can be looked at in three very different ways:

  • Actual cash value – represents what your boat is worth today after adjusting for the normal wear and tear that may have depreciated the replacement value of the boat.
  • Replacement cost value – represents the cost that it may take to replace or repair your boat if it were destroyed or damaged.

Each of these may be significantly different than the other and should not be confused in determining the amount of coverage that you may need to repair or rebuild your boat. A boat that may sell for $100,000 may actually cost $150,000 to replace. Some policies will pay for replacement cost coverage others may offer actual cash value and others may use an “agreed value” negotiated by both parties when the policy is issued. You should talk with your producer about how much it may cost to replace your boat when considering the limits of your coverage.

If your coverage is less than the replacement cost, your insurance company is not obligated to pay to replace your boat. In the case of a total loss, the company only needs to pay up to the policy limits. For partial losses, an insurance company may only be obligated to pay a percentage of the loss based on the percentage that your policy limit would pay toward the cost to replace your entire property.

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How Are Private Boat Docks Covered By Insurance

If your boat dock is located at your residence, other structures coverage on your homeowners policy may cover damage to the dock from a covered peril. However, some insurance companies may consider docks that can be removed once boating season is over to be personal property instead of an actual structure on your property. In this case, personal property coverage may cover you up to your policys limit.


Your removable dock is damaged during a hailstorm. Your policys personal property coverage may pay to repair or replace it, up to your coverage limit and minus any deductible. If the dock on your property is nonremovable, your home policys other structures coverage may pay for the damage, up to your coverage limit.

Nationwide: Best For Policy Bundling

Does My Homeowner
  • Multi-policy discount for those who bundle boat insurance and at least one other policy with Nationwide

  • Boat insurance packages to help customers save money

  • Not all coverages and discounts available in all states

  • Cant manage boat policy on the mobile app

Nationwide offers lots of options for boat insurance coverage, including:

  • Bodily injury and property damage liability
  • Collision coverage
  • Roadside assistance
  • On-water boat towing and labor
  • Fishing equipment insurance
  • Personal effects insurance

Furthermore, there may be additional savings on your boat insurance when you select one of Nationwides boat insurance packages. The company offers a wide range of packages for different types of boaters, such as:

  • Weekenders For those who simply take gear onto their boat and remove it when theyre done, Nationwide offers an affordable package that includes up to $1,000 for fishing equipment, $3,000 for personal effects, and $500 for towing.
  • Overnighters For those who take short boating trips, Nationwide offers up to $2,500 for fishing equipment, $5,000 for personal effects, and $2,500 for towing.
  • Light Tackle Anglers For customers who own a bass boat or smaller fishing boat, Nationwide offers up to $5,000 for fishing equipment, $2,000 for personal effects, and $2,500 for towing.
  • Deep Water Pros For those who fish big waters, gulfs, bays, and oceans, Nationwide offers up to $10,000 for fishing equipment, $5,000 for personal effects, and $2,500 for towing.



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Can You Use Home Insurance If Your Boat Is Damaged

A home insurance policy provides limited coverage for your boat or watercraft should it be damaged or vandalized. In most policies, you would only be reimbursed up to $1,000 worth of coverage if your boat, Jet Ski or miscellaneous watercraft is broken or damaged by the following:

  • Fire
  • Vandalism
  • Falling objects

Surprisingly, your home insurance will cover you if your watercraft is stolen, but of course only up to $1,000.

When it comes to hail damage, there is a peculiar provision in which the watercraft must be in an enclosed building for the damage to qualify. For example, if a hailstorm happened and your boat or PWC was outside and was damaged, you wouldn’t be able to file a homeowners claim in that case. But if the building or storage enclosure had glass that was shattered, letting hail enter that damaged your boat, then you would be covered.

Be aware though that you will likely still need to pay a deductible if you file a claim. Since homeowners policies can have deductibles either greater than or close to $1,000, most claims would not make sense to file in the first place.

Personal property

If you have items on your boat that are stolen or destroyed, you can likely use your homeowners insurance to file a claim and recoup those losses. For example, if you brought an expensive portable speaker for an outing and it was stolen, your home insurance policy would cover that.

What Will Homeowners Insurance Cover

Homeowners insurance will cover expenses involving a personal watercraft and, for that matter, jet skis and boats resulting from the following circumstances:

  • Fire: If your watercraft catches fire, you can use homeowners insurance to cover some of the repair or replacement costs.
  • Wind: If your watercraft incurs damage from wind-blown debris, pebbles or branches, you can file a damage claim with your homeowners insurance provider.
  • Explosions: If your watercraft is destroyed in an explosion, homeowners insurance can cover some of the costs for a new PWC.
  • Hail. If hail damages your watercraft through a crack in the sunroof of your garage, homeowners insurance will cover some of the repair/replacement costs.
  • Theft: If your watercraft is stolen from your home, you can list the watercraft on your homeowners insurance claim.
  • Vandalism: If your watercraft is vandalized during a break-in, this, too, could be listed on your homeowners insurance claim.
  • Falling objects: If an overhead object in your garage falls onto the watercraft and causes damage, homeowners insurance can cover some of the resulting costs. Alternately, if pine cones or tree branches fall onto the watercraft through a broken sunroof, this also could be listed on a homeowners insurance claim.

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Jet Ski & Pwc Insurance

Personal watercrafts , or jet skis, have become one of the most popular boating vehicles used in recreational bodies of water. Consequently, PWCs have also become a major source of boating accidents and fatalities. In 2017, 18 percent of all boating accidents occurred on personal watercrafts, which accounted for 624 injuries.

Make sure you are insured here.

Watercraft insurance coverage offers protection from expenses that could stem from accident, theft or other mishaps. The following article covers answers to questions such as:

  • What does jet ski insurance cover?
  • Do I need jet ski insurance?
  • Does my homeowners insurance cover my PWC?
  • Is jet ski insurance required in Missouri?
  • Where can I get boat insurance instant quotes in St. Clair, Missouri, and surrounding areas?

Read on to learn about the benefits of having a watercraft insurance policy for your PWC.

Does Boat Insurance Provide Liability Coverage

Do I Need Boat Insurance or is My Boat Covered on Home Insurance?

Boat insurance policies offer liability coverage, which can pay for damages or injuries youre liable for while boating, up to specified limits, and lawsuit costs if youre sued. This includes damage you cause to another watercraft or if someone on or near your boat is injured and youre found to be legally responsible.

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What Is Boat Insurance Coverage

Boat insurance coverage is the type of coverage you will need in case your boat is damaged, stolen, or causes damage to others. Hull insurance will cover the boat itself, while liability insurance can cover injuries and accidental damages to docks, moors, and others property.

2. Is Yacht Insurance different than Boat Insurance?

Boat insurance is designed for boats that are typically less than 26 feet in length. Yachts are typically more than 27 feet in length, have larger engines, and are more expensive than smaller boats. In general, yachts typically travel longer distances and into deeper waters, carry more people, may require a crew, and have more accessories and personal belongings. All these factors result in a different risk exposure and require different types of insurance, coverage options, and deductibles.

The first part of a yacht policy includes hull insurance, which covers the agreed upon value of the yacht whether it is old, new, or an antique vessel. You may also agree upon depreciation rates and replacement value.

Liability insurance is essential. First, you may be carrying passengers, whether they are friends and family, or you hire out your boat for pleasure cruises. In deeper waters, youll be governed by Maritime Law, not Federal or State Law, which can be more complicated. You may be required to get Harbor workers and Longshoremans coverage if you have a crew for your yacht.

3. Does my homeowners or auto insurance protect my boat?

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. Youll clean her up tonight when you get home from work.

You come home and wander outside to wash the salt off the motor. Something feels funny though. You open the latched gate to your backyard, and theres your boat but no motor. No kicker. No rods. No crab pots.

No fish finder. Hmm. Maybe 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? But you never got boat insurance.

Now what?

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.

Damage to your boat that occurs while you are launching the boat or when you are out on the water would not be covered by your homeowners policy.

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Q Is There A Difference Between Boat And Yacht Insurance

A. Boat and yacht insurance policies usually vary greatly in their language and coverage. In most instances, a boat is classified as a vessel that is 26? long or smaller, and a yacht is 27? and larger. Since yachts often have larger navigational ranges and face a wider variety of hazards and exposures, yacht insurance tends to be more detailed than a boat insurance policy. Global Marine is well equipped to work with either type of vessel and can help you determine the appropriate policy for your needs.

Q How Can I Save Money On My Boat Insurance

Will Homeowners Insurance Cover My Boat

A. Making sure your boat insurance policy fits your boating needs is the most important first step. After finding appropriate coverage for your vessel, there are several steps you can take that can potentially influence the cost of your boat insurance premium.

Navigational Territory: The waters where you will be using your boat play a part in deciding how much you will pay. Boat insurance rates in coastal waters, especially if exposed to the threat of hurricanes and tropical storms, will be higher than rates for vessels using inland lakes and rivers.

Lay up: Some marine insurance companies offer a credit for the amount of time a boat is decommissioned and not being used.

Location: Keep your boat in a secure location secure and protected from severe weather and/or secure from vandalism or theft.

Boater Safety Education: Insurance companies will sometimes provide a credit for individuals that have taken and passed a boating safety course from the US Coast Guard or US Power Squadron.

Good Driving Record: A clean automobile driving record, with no recent moving violations, often will help an owner receive premium discounts due to their proven ability to operate vehicles in a safe manner.

Liability Limits: The higher your liability limit, the higher the premium. Selecting a policy with a liability limit that makes you comfortable and also covers what you plan to do with your boat will help keep costs manageable.

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Night Vision For Jet Skis

For safe nighttime navigation, the following lights can help you identify the nearby presence of fellow boats on the waterway:

  • Sidelights: One light on each side of the vessel. On the left is a red light, and on the right is a green light.
  • Masthead light: A large white light that shines forward and to the sides from the front of the vessel.
  • Sternlight: A white light that shines from the back of the vessel.

All engine-powered boats are required to use a masthead light. On boats smaller than 39.4 feet in length, all-round white lights that combine the masthead and sternlight can be used as an alternative.

Does My Home Insurance Cover My Boat

Ifyou own a small boat, it may be covered under the personal property section ofyour homeowners insurance. Heres whatyou need to know. The coverage, althoughpresent in most homeowners policies, is typically capped at $1500. And this $1500 generally includes thewatercraft, the trailer, its furnishing, equipment and motor. Therefore, if you have a $10,000 boat and youexperience a covered claim, your home insurance will typically cap thesettlement at $1500. So were talkingabout really small boats such as jon boats, kayaks, canoes, small sailingvessels etc.

What about liability coverage?

The next thing you need to know is that the insurancewill generally extend liability coverage to a boat you own but there are sizerequirements. For clarity, liability isbodily injury or property damage to others. For liability coverage to be considered by the insurance company, theboat, if its a sailing vessel, needs to be less than 26 feet. If its a motorized boat with an inboard motor,itll generally need to be less than 50 horsepower. And if its a motorized boat with an outboardmotor it will generally need to be less than 25 horsepower.

What should I do next?

Now, if your boat exceeds the $1500 cap or exceeds thesize requirements for liability, you need to purchase the boat its ownpolicy. However, if it falls withinthese parameters, you need to doublecheck you homeowners insurance to ensureit has a watercraft provision in the personal property and/or liability sectionof the policy.

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Best Boat Insurance Of 2021

  • Rates starting at around $21 per month

  • Great coverage including many extras

  • Limited info on restrictions and exclusions to coverage


Allstate offers a very comprehensive lineup of options for boat coverage, including:

  • Watercraft liability coverage
  • Additional equipment and personal effects
  • Trailer coverage
  • Emergency services
  • Agreed value


Even though Allstate offers boat coverage starting at about $21 per month, it doesnt shy away from discounts. You may qualify for the following when you insure your boat with Allstate:

  • Multiple Policy Discount Up to 20% off when you combine your boat insurance with an Allstate homeowners policy
  • Full-Pay Discount 10% off for paying your full premium upfront
  • Homeownership Discount 10% off for owning a home
  • Boat Education Discount 5% off when you take an approved boater safety class
  • Easy Pay Plan Discount 5% off when you enroll in automatic payments


Unlike other insurance companies, Allstate places very few limitations on its boat coverage. However, some types of coverage and discounts are not to be had in all states, so its best to contact a local Allstate agent to verify the availability of coverage and discounts before switching over to Allstate for your boat insurance.

Additional Perks

Allstate offers the best of both worlds to its customers: local agents to help you with your insurance needs, as well as online tools and an 800 number to get questions answered anytime.

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