How to Choose the Right Boat Insurance for You

When searching for the right boat insurance, it ought to never be a hassle. Besides, your boat is the very thing that creates valuable memories with your friends and family. Therefore, it is critical to appropriately insure your boat. This will enable you to continue to share those priceless endeavors every summer.


Regardless of the type of boat, having the appropriate protection is essential. The following are some things to consider, to ensure you choose insurance that meets your particular needs.


Purchase Only What’s Needed


When purchasing a policy, do not buy more than you need. Instead, be more specific about your boat needs. You should choose a policy that will fully cover your boat as well as save you the most money. Ask family and friends about their policies. They will share their overall experiences, including the pros and cons. This will help you to decide on the right policy for your boat.


Choose Companies that Offer a Variety of Discounts


Another important thing to consider are the discounts offered by the insurance company. Some companies offer discounts based on a few factors. This includes a good driving record and no history of accidents. Also, if you have taken boating safety courses, have a captain’s license, or have other policies, discounts may be applied. Some companies also offer discounts based on specific items that you have on your boat. This includes ship-to-shore radios, a diesel engine, and extra safety equipment.


Consider insurance companies that also offer “lay-up” discounts. These discounts are applied, if you don’t boat year-round, due to weather restrictions. So, if you only boat certain times of the year, a “lay-up” discount will be very cost-effective.


Also, where and how you boat will determine if you qualify for discounts. For instance, extra discounts are often applied, if you drive your boat on freshwater. However, no discounts are usually available if you usually boat in saltwater. This is because saltwater is abrasive and harsh. It can erode your boat quicker and tear the paint. Overall, it will cause your boat to depreciate a little faster. In this case, it is best to choose an “All Risk” policy because it usually provides maximum protection. However, it doesn’t include design defects, denting, marring, and wear and tear. Therefore, it is best to add extra coverage.


Choose a Company with Various Add-ons


Insurance companies often offer add-ons or extra coverage. One type is known as salvage coverage, which protects your boat, if it happens to become damaged. Other add-on coverages include specialized coverage, consequential coverage, towing, and cruising extension. Cruising extension is temporary coverage that can be used, if you plan to travel outside the United States.


Also, extra coverage is available that will specifically cover items, such as anchors, seats, oars, etc., as well as land and winter risk. For example, during the winter, ice and snow can accumulate on your boat and cause damage. The extra coverage will cover the cost of any damages associated with the winter conditions.


Consider the Company’s Claim Process


Another important thing to consider is the company’s process, when filing a claim. Ask the insurance agent about their claims process. Keep a copy of their claim information, in case there is an emergency. Also, ask the agent if a representative will be available, if you have to file a claim. This is just in case you need help with handling arrangements for salvage or towing.




In conclusion, before shopping for boat insurance policies, there are a number of factors to consider. You should consider the monthly premium as well as discounts available. You should also consider the specific type of coverage your boat needs. This will ensure that your boat is completely covered year round.