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.

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