What Is A Boat or Watercraft Insurance?

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Boat insurance may help cover a motorboat, sailboat or personal watercraft if it's stolen, in an accident, or damaged by a covered peril like fire or lightning. Boat insurance may also help protect you if you accidentally injure someone or damage their property with your boat. Your policy may cover parts of the boat including:

• Machinery
• Permanently attached equipment
• Fittings
• Furnishings
• Hull

Here's a look at the types of coverage often included in a typical boat insurance policy.

Boat insurance property coverage

Boat insurance helps protect a boat (and other watercraft) from certain risks. For instance, property coverage may help pay to repair your boat after it's damaged in an accident. It may also help pay to replace your boat if it's stolen. This coverage usually helps protect a boat whether it's on water or land. 

Medical payments coverage

Suppose you or your passengers are injured a

Liability coverage

If you cause an accident that damages another person's property, liability coverage may help pay for expenses you incur as a result after an accident on your boat. Medical payments coverage may help pay for resulting expenses such as hospital bills, medications or X-rays.

Uninsured watercraft coverage

What would happen if an uninsured boater collides with your watercraft and you or one of your passengers are injured? The uninsured watercraft coverage on your boat insurance policy may help pay for the resulting expenses.

The coverage needs of boat owners will vary from person to person. It's a good idea to talk with an insurance agent about coverage for the following components:

• Boat trailers
• Boat accessories (for example, radar or geo-location instruments)
• Special equipment (fishing gear, for instance)
• Towing coverage