Boat Insurance Tips

Top tips for getting the most from your boat insurance:
  • Consult with a knowledgeable marine insurance agent/broker to get a less biased opinion.
  • Take a boater's safety course or get your captain's license to save on your insurance premium.
  • Consider suspending insurance coverage during layup periods and winter storage. Check your home owner's policy to see if your boat is covered if stored in your garage or on your property.
  • If you plan to cruise, travel, or otherwise use your boat outside of your normal boating location, check with your policy to make sure you're still covered.
  • Ask about getting insurance policy riders for special situations such as cruising out of the country or living aboard.
  • If you own a trailer for your boat, check your boat insurance policy to determine how/if it is covered.
  • Some insurance policies offer a towing/on-water-assistance add-ons. Check with your agent if you're interested.
  • Keep a good inventory of equipment and personal belongings on your boat in case of theft, damage or loss.
  • Keep good maintenance, repair and purchase records for the boat, parts and equipment.
  • Some insurance policies require a professional marine survey to be conducted on your boat prior to issuing the policy. If you have a current marine survey for your boat, be sure to mention it to your agent when shopping for insurance.
  • Get several quotes from different sources when shopping for a policy and be sure to let agents/companies know that you are getting multiple quotes to compare.
  • Ask what percentage of an insurance companies policies/business comes from watercraft to ensure they are experienced with the unique situations that boaters face.
  • Before purchasing a policy, ask how claims are reported and handled.
  • Make sure you understand exactly how your boat's value was determined by your insurance company.
  • Ask about environmental impact protection from things like fuel spills and leaks from a sunken or partial sunken boat. Are your salvage/recovery costs also covered?