Boat/Watercraft Insurance

What Types of Boats and Watercraft Does Insurance Cover?

Boat and watercraft insurance covers you when your boat is damaged. It covers watercraft with motors, such as pontoon boats, paddleboats, fishing boats, leisure crafts, and yachts. Boat insurance does not typically cover items without motors such as kayaks, canoes, or even personal watercraft.

Who Requires Boat Insurance?

If you are purchasing a boat, your lender will most likely require you to have insurance to cover the asset until it is paid off. Additionally, some marinas require insurance if you use their moorings or a boat slip.

What Does Boat Watercraft Insurance Cover?

Boat insurance is similar to your auto insurance policy with additional coverage from costs associated by an accident or a loss.

• Collision insurance will repair or replace your boat in the event of an accident or theft.
• Property damages will cover any damages that you may accidentally cause to another boat, a boat dock, or any other structures or property of others.
• Bodily injury pays out to another party in the case that you cause an accident. It pays their medical bills, pain and suffering, loss of income, and even legal expenses. (Subject to state laws)
• Comprehensive coverage pays you if your boat is stolen, damaged, or vandalized by any other situation than an accident. This includes damages from windstorms, hail, and tornados.

You can also get insurance for several other items to make sure you are covered in all instances. Some additional coverages are fishing equipment, oil spill cleanup, medical payments for you, personal property in the boat, and roadside assistance. Uninsured and underinsured coverage pays out to you if the other boater is at fault and doesn't have sufficient coverage to pay for all your medical needs.

We understand at Chambers Bay Insurance Group that boat and watercraft insurance can be difficult to understand. We are here to help you navigate the waters of boat insurance. Feel free to call us anytime to help you keep your assets safe with the coverage you need.