A comprehensive boat insurance policy should protect you against damage to your vessel, as well as other risks like a bodily injury or property damage to others.

The minimum amount of coverage one can buy comes in the form of a liability-only policy. This will protect you for damages arising from bodily injury or property damage to another party up to the policy limit.

» MORE: A Breakdown on Liability Coverage

Though it’s important to note, as a boater you will be exposed to additional risks that should be factored into your policy. A full coverage boat insurance policy will consider all aspects of the many perils facing your boat, including fire, theft, natural disasters, and more.

In this guide we’ll explore what a comprehensive and quality boat insurance policy looks like and how you can go about getting one.  

Boat Insurance Coverage

Thorough protection requires a combination of different coverage options, depending on your specific watercraft, level of experience, location, and more.  

Your policy may include some mix of the following options:

• Bodily Injury Liability: coverage for your liability arising from injuries to a third party where you were deemed at fault.
• Uninsured Boater Coverage: coverage for damage to your craft caused by another boater who is uninsured.
• Property Damage Liability: this will help you pay for the cost of repairs if you are at fault for property damage to a third party.
• Personal Property and Equipment Coverage: this type of coverage can protect against an accidental loss or damage to your covered personal property aboard the watercraft.
• Medical Payments Coverage: provides protection for people who are injured while on, boarding, or leaving your boat, regardless of fault.
• Environmental Coverage: coverage for cleanup costs from an accidental fuel spill and more.
• Named Storm Coverage: provides protection for damage caused by a tropical depression, storm, or hurricane named by the National Weather Service.
• Hurricane Haul-Out Coverage: this type of coverage will pay for a portion of the cost to have a boat hauled and secured before a storm.

Do I Need Boat Insurance Coverage?

Boat insurance is not required in many states, though your marina or a bank financing the boat may require it.

Even if you’re not required to obtain insurance, a comprehensive policy is always a good idea. You never want to leave a significant and valuable purchase uninsured. Protecting that investment is one of the most important decisions you can make.

Keep in mind - coverage for potential damages or liabilities could save you from a hefty repair bill down the road. The cost to make a repair is often far greater than what it would cost you to insure the vessel in the first place.

An insurance policy is recommended if …

• You boat regularly
• You have a new, expensive boat
• You live in an area with unpredictable weather conditions
• You are not prepared to pay damages for injuries to a third party or defend yourself against such allegations
• You wouldn’t be able to afford the out-of-pocket cost if the boat was damaged, experienced a loss, or was stolen.

Plus, a vast majority of lenders will require you to buy a comprehensive boat insurance policy, with adequate coverage. They are looking to protect their investment as well.

Think about this:

You just bought a $20,000 boat and it sustains $5,000 worth of damage the first weekend you take it out on the water. You would have to pay that $5,000 bill out-of-pocket. Not exactly an ideal situation.

Now imagine, you purchased a quality boat insurance policy, where it costs you $200/year to insure, with a $1,000 deductible. You would end up paying $1,200 out-of-pocket instead. That’s a $3,800 difference and definitely something that should be considered.

Reasons to Get a Full Boat Insurance Policy

Policies with full coverage can be quite helpful if your boat is damaged or there is damage to another person’s property.

You don’t want to get stuck paying for someone else’s repairs. That’s why proper coverage is worth it time and time again.

Plus, it can protect you against other perils, like extreme weather conditions, expensive medical bills, and so much more. The options, and benefits, are endless.

In the grand scheme of things, it’s a relatively inexpensive cost to pay compared to the potential out-of-pocket payments you could wind up being responsible for. It’s never worth rolling the dice with your finances.

How to Get a Comprehensive Boat Insurance Policy 

After purchasing a boat, one of the top items on your to-do list should be to get it insured. You want to make sure you get the most out of your policy.

To get a SkiSafe boat insurance policy, there are a few ways to go about it:

1. Get a Boat Insurance Quote Online

The other option would be to do it all online. This is a great option for boaters who have speed on the mind and are looking to receive a quote in minutes.

You’ll need to provide us with some basic information about yourself and your boat. And we’ll take it from there.

Plus, anything you need to adjust on your policy quote can always be addressed online or over the phone.

Need to add someone to the policy? Need to change an address? Need to add on extra coverage? No problem. You can take care of everything in minutes on your computer or by contacting one of our underwriters. Whatever the issue is, we’ll work hard to fix it.

• Get a boat insurance quote online

3. Go Through an Independent Agent

Finally, you could get a SkiSafe boat insurance policy through one of your independent agents.

We work alongside a vast group of boat insurance specialists nationwide, who can give you personalized advice on what kind of coverage you may require.

» MORE: Boat Insurance Quotes: What You Need to Know