Watercraft & Boat Insurance

Owning a boat offers countless adventures, but it also comes with risks. Your boat may get damaged in a storm, stolen or involved in an accident that injures a passenger. In such scenarios, a robust boat insurance policy is invaluable, as it can provide financial assistance to help you recover from these unexpected incidents.

What Does Boat Insurance Typically Cover?

A standard boat insurance policy usually includes the following coverages:

• Physical damage coverage helps protect your boat from theft, fire and collisions.

• Liability coverage may cover legal expenses and damages if you’re found responsible for an accident.

• Medical payments coverage can help with medical expenses for you and your passengers following an accident.

• Uninsured/underinsured boaters coverage can protect you if you’re involved in an accident with a boater who lacks sufficient insurance.

Are There Any Exclusions or Limitations in Boat Insurance Policies?

Boat insurance policies do come with specific exclusions and limitations. These include normal wear and tear, damage from marine life and issues arising from lack of maintenance. Policies might also exclude coverage for boats used for commercial purposes, racing or high-speed boating. Additionally, certain high-risk areas or activities might require additional endorsements for coverage.

What Factors Affect the Cost of Boat Insurance?

Several factors influence your boat insurance cost, including the following:

• Type, size and age of your boat

• Value of the boat

• Where the boat is used

• Intended use of the boat

• Your boating experience

• Claims history

• Level of coverage

• Deductible

To find the best coverage for your needs, consult an insurance professional and compare coverage.

Learn More

Secure your boat insurance policy today. Reach out to The Peterson Agency for a custom boat insurance quote.