Reasons you should have boat insurance

If you have a boat, then you probably know how much you and your family can enjoy while exploring the waters. There is no excellent way to go fishing, and do all kinds of water sports than going on a boat. But have you ever thought about boat insurance? For many people, their medical insurance is the only cover that matters. If you have been hesitating about getting boat insurance, I have a few reasons that will make you purchase boat insurance right away.

To protect your funds

Accidents are everywhere. In your day to day activities, there are chances that you will injure a boater or passenger. If you do not have boat insurance, you will be accountable for bodily injury and medical expenses. This means digging deep into your pocket. Although you not may be responsible, legal costs tote up quickly and can cost you a significant amount of cash. But if you have boat insurance, such expenses will be covered, and you will not be personally accountable for those costs. Hence the insurance will save you from spending on such uncertainties.

Most inland waterways require it

Just like car insurance is a legal requirement in all countries, so it is with boat insurance. It is a necessity in most inland waterways. You will therefore not launch in such places without boat insurance. If you thus want to carry your water activities without any issues, consider having boat insurance.

Protects you against losses

It is evident that when you go boating, you will have a few items. In the event your boat sinks or the items are stolen, the insurance will cover the lost items. Boat insurance will cover the loss of the items onboard.


To protect your passengers

Having boat insurance is very essential. Anyone you allow to use the boat is protected. If you happen to injure a passenger while boating, the boat insurance covers the individual’s medical expenses as your well as yours.


Secure your investment

Boat insurance covers your expensive investment against fire, vandalism, theft, breakdowns, and accidents. With this type of insurance, your investment is protected, and you have nothing to worry in the event a natural disaster happens, and your boat is destroyed.

It’s a requirement by lending institutions

When it comes to obtaining a bank loan, most banks require that you have your boat secured, so they are sure they are also insured in case the unfortunate happens. It is, therefore, necessary that you have your boat insured.

To secure a place at marinas

This is another reason to have boat insurance. Many marinas need proof before they give a contract for a mooring. This only means if you do not have insurance, you will not secure a spot at most marinas.


Even if boat insurance is not a legal requirement, securing your investment and protecting your passengers is critical. It is necessary that you have it to avoid paying for the expenses that may be as a result of injuries to passengers or boat theft.

Boat insurance: What should I know?

Whether you are riding for fun, fishing or performing some sports activities, exploring the waters on a boat is a source of pleasure. Boats are like any other expensive asset that you own such as cars. They can cause damage in the event you get into an accident while boating. That is one reason you should consider getting boat insurance. If you are a boat owner or planning to have one, below are some of the things you need to understand about boat insurance.

You can pause boat insurance

When it comes to other insurance policies like auto coverage, you cannot pause protection regardless of the season. But boat insurance is different; you can pause the coverage during winter seasons. This is because, during the winter months, you are less likely to go boating. Some policies allow you to buy the insurance for only those months that you are likely to use your boat. This means that in case you use your boat during the not included period in your insurance, you are not covered should anything happen to you. Ensure you insure the months you will take your boat out so that if anything happens to you, there will be no need to worry.

You can buy more coverage for your boat

The basic types of boat insurance include liability and property coverage. But if you wish to purchase extra coverage, there are various kinds of additional coverages to choose from:
Emergency services: This is the type of insurance that caters for any costs that are as a result of emergency services.
Wreck removal: Do not expect your boat to remain all the time afloat. Sometimes your boat might sink, and if this happens, wreck removal policy pays the reasonable cost of removing, raising,   or destroying your boat.
Cheap repairs: Boat repairs can be costly, and therefore reasonable repairs policy covers the maintenance to shield your watercraft from potential damage.

It covers various disasters

Different disasters could happen and affect you and your boat. Having boat insurance protects you from facing the nightmare of disasters such as fire, boat capsizing, storms, stranding, sinking, collision, and theft.

Personal insurance does not cover it

It is necessary to note that your personal property insurance does not cover your motor boat. However, small boats without engines and canoes may be covered by your property insurance. Therefore, if your boat has a motor, it is not covered, and you will thus have to find boat insurance separately.

You can save on your boat insurance

We all want to save some cash and not spend it on one thing like insurance. You can reduce your boat coverage rates doing some of these: having approved fire extinguisher onboard and using diesel which lowers your risk.


Having a boat means more fun. However, you want to ensure that your boat plus you and the people who use it are protected. Always ensure that you use a covered boat to avoid paying for expenses in the event something bad happens.

Things to consider when choosing boat insurance

Boating is one of the excellent activities you can do during summer time. Whether you own a small boat or a motor boat, it pays to insure your vessel. Sometimes it is not easy to determine the right boat insurance policy, and this can result in mistakes that you can only realize when making a claim. If you are planning to get boat insurance policy soon, below are some of the things you should consider.

How you use your boat

The way you use your boat determines kind of plan you will need. Find out if you will be using your boat to tow your long boat distances frequently. Let your insurer know if you will be using your boat at high speeds, or if you will be using it to ferry passengers. The way you intend to use the boat will affect your insurance policy. For example, if you are going to use your boat take passengers around the lake ensure your coverage includes enough liability coverage in the event of injury.

Items you carry onboard

If you intend to take electronic equipment with you when boating, make sure you consider this when buying your boat insurance. This is because your insurance coverage should protect the boat and items you carry along in your vessel in the event something bad happens to them. By considering if you will be taking any items onboard, is one way to ensuring that you do not have to be bothered about the costs in case they are lost or damaged.

Where will you be using the boat?

Perhaps you are wondering what kind of question is this. If you make long trips or boat on large lakes, you are likely you to need emergency towing. Having a breakdown on the large water can be risky, but if it happens, you will need the emergency towing service which might be expensive. It is thus necessary to consider such instances when choosing your policy. This is to ensure that in case you have a breakdown, you will not have to worry.

What will it cover?

You probably want insurance that will cover all your needs. Basic boat insurance offers protection against any boat accidents, environmental dangers or theft or natural misfortune that may affect your boat. It is for that reason that you should check with your insurer to find out what is covered and not covered. Does your insurer cover all your needs? The right insurance policy is the one that covers all your boating needs.

Do you go boating beyond your country waters?

This is a significant factor. If you love adventure, you may want to go boating beyond your state waters. It is critical to choose or purchase insurance (if it is available) that will cover you even when aware you’re your country water.


These are some of the factors to keep in mind when buying boat insurance. We advise you ask your insurer more questions regarding boat insurance before choosing a plan.