Congratulations on your new boat! Before you head out on the water, it's important to understand how boat insurance works and what coverage you need.
Why You Need Boat Insurance
While boat insurance isn't legally required in every state, it's strongly recommended. Marinas and lenders typically require it, and the financial risks of boating without insurance can be devastating.
Types of Coverage
- Liability coverage — Protects you if you cause injury or damage to others
- Physical damage — Covers damage to your boat from collisions, storms, and other perils
- Comprehensive — Covers non-collision events like theft, vandalism, and fire
- Medical payments — Covers medical expenses for you and your passengers
- Uninsured boater — Protects you if another boater without insurance causes damage
- Towing and assistance — Covers on-water breakdown assistance
Tips for New Boat Owners
- Take a boating safety course — many insurers offer discounts
- Choose agreed value over actual cash value when possible
- Consider year-round coverage even for seasonal boats
- Review your policy limits carefully
Your BlackArrow agent can help you find the right boat insurance policy for your vessel and boating habits.
