Boat Insurance

Choosing a Boat Insurance Policy

Boat insurance is intended to safeguard your vessel, other vessels, and individuals on board. This can include protection against financial loss caused by damage to your boat, a third-party claim for damage caused to another boat owner's ship, or, in the worst-case scenario, injury or death to you or one of your guests.

Physical loss and liability are two types of coverage on the boat owners policy. Physical loss coverage covers your boat in the event of a fire, theft, vandalism, or accidental damage. At the same time, liability coverage protects you financially in the event of an accident involving another vessel. It pays the other party for any damages or injuries.

What Is Covered by Boat Insurance?

Physical damage to watercraft, motors, equipment and trailers are covered by most boat insurance policies.

The following items are usually included in standard boat insurance:

  • Fire, theft, malicious damage, sinking, stranding, collisions, and salvage charges are all examples of unintentional harm.
  • Engines are damaged.
  • While your boat is being transported, it may sustain damage (though there may be length limits, so always check your policy)
  • Lifting and launching-related damage
  • Due to hidden faults, your boat may be damaged or lost.
  • Frost-related damage
  • Cover for personal belongings

Most policies also permit an occasional operator who possesses a certificate of boating safety education to drive your boat. However, some boat insurance policies state that your coverage would be invalidated if your vessel is chartered, so check to see if this is permissible.


  • Racing - When it comes to localized sailboat racing, be sure you don't overpay. Some yacht insurance packages include coverage for localized sailboat racing, such as the Round the Isle of Wight Race, at no additional expense (including damage to masts, spars, sails, and rigging). On the other hand, others may impose a surcharge depending on the expected cost of repairing the damaged parts. If you don't inquire before buying boat insurance, you can pay more for something already included elsewhere.
  • Mooring at marinas — Inquire about any discounts available for boats anchored in marinas. Most insurance companies have arrangements with certain marinas to save you up to 20% on your rates. If you keep your boat ashore, you may also save money.
  • Changing mooring locations - It's critical to notify your boat insurance if you alter your mooring position or purchase additional gear or equipment after purchasing your policy. If you don't, it might have an impact on any future claims you make. 

Before you embark on your next adventure, be sure that you have the right coverage out on the water.

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