Finding Boat Insurance that fits your needs - Information to help you understand various policies and coverage from insurance carriers specifically for boats. Basic information on insurance and what to look for. Links to informational sites dealing with boat insurance.
If you are a boat owner you should have some form of insurance protection on your boat and equipment. Many people have a small older fishing boat and the general feeling is Homeowner’s insurance coverage is enough to meet basic insurance needs. Sometimes it is, but realistically that may not be a wise choice.
Most Homeowners policies offer no protection for liability claims and very limited coverage for property damage or loss caused by negligent operation or ownership of a pleasure boat. Even if this is your choice you will find that the coverage will be limited both in what is covered and amounts allowed.
Under most circumstances a regular boat owners policy would be a better choice.
If you are doing comparison shopping you need to consider that boat policies will vary considerably from company to company. Make sure you fully understand what is covered in each of the various policies.
These are generalizations but most boat policies offer coverage for these situations:
Physical damage losses to the boat, usually on an all risks basis.
Liability coverage for any damages resulting from negligent operation or ownership of the covered boat.
Medical coverage of riders or driver if involved in a boating accident.
Some policies also provide for uninsured or underinsured coverage. This is similar to uninsured motorist coverage that is in your auto policy.
There is a second level of boat insurance and that is yacht Insurance packages.
This usually covers larger boats, cabin cruisers, and sailboats.
Coverage again will vary between companies.
There are no standard insurance forms for boats. Generally insurance providers develop their own policies and this results in marked differences in policies and coverage. Some insurance carriers have very basic coverage while others may be quite comprehensive. Buying insurance is often confusing but with some research you can protect yourself and your property from most losses.
Below are several links to sites that will give you more information on this subject.
