Watercraft Insurance
Watercraft Insurance Quotes
Owning a boat or other watercraft means additional responsibility and risk
Fishing, skiing, cruising sunsets, or getting together with friends and family on a party pontoon. Watercraft owners know, it’s different from any other form of transportation.
It’s also one that doesn’t put the same level of requirements on owners as other modes of transportation. Did you know Insurance is not required in all but two states, and there are no required tests or safety classes?
When it’s not required, you know plenty of people who decide to skip the expense and time – and you should prepare for that greater risk. Imagine getting into an accident where the at fault party doesn’t carry insurance? That’s why it’s so important that you carry your own.
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You should carry watercraft or boat insurance because it’s not required. Learn here.
It’s not only about insuring your boat or other watercraft
What about you and your passengers; your fellow boating enthusiasts; your personal assets? Would you drive your car or truck without insurance? Doing so is simply too risky. One accident without insurance could result in litigation against your assets; money, stocks, your home – all the things you’ve worked hard for. Watercraft insurance is a cheap investment in comparison to an accident without it. Don’t risk it.
Insuremart provides watercraft insurance for the following:
- Jet skis and Wave Runners
- Fishing boats
- Ski boats
- Pontoon boats
- and more…
No matter the type of watercraft, there’s a good chance we can insure it and you. And do so for less than you may think.
Is boat insurance required?
Surprisingly, only two states, Utah and Arkansas, require boat insurance. That doesn’t mean you shouldn’t carry it or don’t have to. In fact, you would be wise to carry insurance and add uninsured/underinsured coverage. Carrying that add-on provides coverage when someone who is not insured damages your watercraft or injures you or your passengers. Or maybe they carry inadequate insurance that doesn’t provide high enough coverage limits.
When is watercraft insurance required?
Insuremart suggests you always carry watercraft insurance, regardless of requirements. The risk is simply too great. Here are some situations when you will not have the option:
- Virtually all lenders will require full coverage watercraft insurance which includes liability, collision, and comprehensive.
- Many marinas, dry storage facilities, boat clubs, and events, e.g., fishing tournaments will require boat insurance. If they don’t, well, keep in mind the added risk to you and your property, and consider the earlier mentioned uninsured/underinsured add-on coverage.
What does watercraft insurance cover?
Watercraft insurance will cover your equipment and even your possessions, but if you or your passengers are injured or you damage another watercraft or someone’s dock in an accident, the proper watercraft insurance will cover those situations.
Other situations to consider:
- Fuel leak damage or a fire
- Someone steals your watercraft or vandalizes it
- Mother nature takes hold: floods, tornadoes, hurricanes, and high winds.
- A hole in the hull that leads to water damage or your watercraft sinks.
How much is watercraft insurance?
Good to know: Insuremart works with over 100 insurance carriers. Nothing gives you an advantage when buying watercraft and boat insurance — or any insurance — like a great agent and more options. Talk to our agents.
Typically, watercraft insurance will cost $200-$1000 per year. If you’re sporting a boat worth a quarter-mil, expect rates to be higher.
There are too many factors to provide a definitive cost here, and that’s why you should talk with one of our agents at Insuremart.
Like other types of insurance, there are lots of factors that determine cost:
- Geography
- Value of the watercraft
- Type of watercraft
- How it will be used
- Coverage types, limits, and add-ons
Get a Watercraft insurance quote from Insuremart right now. Our agents are ready to help.