The Importance of Boat Insurance

There’s really nothing quite as exhilarating as boating and it really isn’t any wonder that people choose to participate in being on the water. The wind in their hair, the scent of the salty sea, it’s all something that is a dream for most. Companies like will be able to advise you on the best boat insurance and unless you are moving to the middle of the desert boat owners should understand how marine insurance differs from that of your basic car insurance.

One goes by land, the other by sea and there are variations beyond the basic coverages common to both and even ‘boat and yacht’ policies can vary between specialist boat insurance companies. It’s complicated at the best of times so doing your research and ensuring that you know exactly what you’re getting is important. Liability and physical damage coverage form the core of any marine policy and the difference? Liability coverage covers your legal obligations to third parties due to injury, loss of life and damage to property. Physical damage coverage reimburses for damage to the boat and its machinery. The best one you can get is an ‘all risk’ which covers any cause of loss not specifically excluded in the policy such as wind storms, vandalism and collisions with a dock.

It’s easy to feel over your head when you are choosing the right insurance for your boat and if you are new to boating you may be under the impression that your homeowners insurance will magically stretch to cover your boat. It actually won’t in most cases and while most homeowner policies will have a minimal amount of coverage for really small boats with either no engine or a small one, like a sailboat. Your boat has nothing to do with your home so you need to be covered with the right insurances. Your home isn’t mobile so your boat, like your car, can go anywhere. It requires a difference policy for that reason. Other marine coverages you can get can include medical payments which pays your first aid, ambulance and hospital bills in case of accident. This can also cover any injured passengers on your boat. Companies like can advise you that towing and assistance policies in your insurance that pays for emergency assistance with boat towing, emergency repairs while underway or fuel delivery at sea.

The costs of your insurance depends on several factors including the value of the boat, its length, age and the type of boat itself. When you shop for boat or yacht coverage you need to make sure you compare quotes and speak to experts in marine insurance as insurance agents outside the field often lack the right expertise in providing adequate protection for seagoing captains. Did you know your bat is covered when it’s out of the water, except not by your boat policy? When the boat is attached to a car or truck, you are covered by car insurance policy if you back into anyone. Any time you are trailering something, the car policy overrides the thing you are trailering. The bad news there is that it is covered solely by car insurance so there are limits. A yacht policy that will usually pay for loss of life for example, won’t pay out if life is lost while it’s out of the water.

Read the fine print, dot the I’s and cross the t’s because you’ve just learned complicated policies!