Boat insurance is a type of insurance coverage designed to protect individuals or businesses against financial losses related to owning and operating boats or other watercraft.
Boat insurance provides financial protection by covering losses or damages to a boat, its equipment, and liabilities related to boating incidents, in exchange for regular premium payments.
Individuals or entities who own or operate boats and other watercraft, meet the insurer's underwriting criteria, and are willing to pay the necessary premiums are eligible for boat insurance.
Most types of watercraft, including sailboats, powerboats, fishing boats, personal watercraft (such as jet skis), and even certain larger vessels like yachts, can typically be insured.
Boat insurance covers damages to the insured vessel, liability for accidents involving the boat, medical expenses for injuries sustained on the boat, and often theft and salvage costs.
Boat insurance costs can vary depending on the type, value, size of boat, its usage, location & coverage options, with average annual premiums ranging from a few hundred to several thousand dollars.
To get boat insurance, you can contact insurance providers specializing in marine coverage, provide necessary information and then receive quotes to choose the policy that suits your needs.