Boat Insurance FAQs
Posted on Tue, Apr 12, 2011
Q: I only use my boat a few times a year, do I really need boat insurance?
A: It only takes one incident to demonstrate your need for boat insurance. It may feel like you don’t need coverage if you only use your boat a handful of times a year, but in reality, each time you are on the water you are at risk of an accident. Since you can never tell when you may need insurance, it’s important to protect your boat – no matter how much or little you use it.
Plus, even if you aren't worried about covering your boat, you should (at the very least) have a liability only policy. This type of policy will protect your assets in the event that you are held liable for bodily injury or damage to someone else or their property in an accident.
Q: Do I need to insure my boat in winter?
A: It may seem that since you’re not using your boat in the winter, you don’t need boat insurance. Just because you’re not on the water doesn’t mean you're not open to damages to your boat. Things can happen in storage that can end up costing a lot of money to repair. If you don’t have insurance in winter when your boat is in storage, you will not have any assistance in paying for the repairs. That’s why it’s so important to keep active insurance coverage on your boat year round.
Q: How much boat coverage do I need?
A: Since each boat, person, location and situation is different, we can't really give you a "ballpark" figure for how much coverage you need. You need to evaluate your comfortable level of risk when protecting your boat, assets and passengers. An insurance agent can work with you to assess the protection needed for your circumstances.
Q: What are the differences between boat and yacht insurance?
A: Generally "boats" are considered to be 26' and smaller, and "yachts" are 27' and larger. Generally speaking yacht coverage is broader and more specialized because larger boats travel further and have more unique exposures.
Q: What is usually covered in a typical boat owners policy?
A: The following are covered in a typical boat owners policy.
• anchors
• batteries
• bilge pumps
• bimini tops
• boat covers
• deck chairs
• depthfinders
• emergency devices such as EPIRBs
• fire extinguishers
• fuel tanks
• boat furniture
• generators
• horns
• life preservers, PFD's
• lights
• masts
• mooring equipment
• motors, engines
• oars
• refrigerators
• seats
• solar panels
• stoves, ovens
• tarps
• trailers
Q: What is generally not covered in a boat insurance policy?
A: Following are typical exclusions in a boat policy.
• cameras or video equipment
• clothing, jewelry, watches and other personal items
• food and beverages
• mobile or cell phones
• portable tv's
• stereos, radios
• scuba equipment
• sails, masts or spars while a sailboat is in a yacht race
• water skiing or wakeboarding ropes
Q: Who is allowed to operate my boat?
A: Most policies will allow anyone to operate your boat so long as you have given them permission. There are exceptions, of course, especially with high performance boats or personal watercraft so ALWAYS READ YOUR POLICY.
Q: Do I have to wear a life jacket to be covered?
A: Massachusetts law currently requires children under the age of 12 to wear life jackets. While you’re not required to wear a life jacket in order to be covered, we strongly recommend it. There are far too many cases where, had the person been wearing a life jacket, they would have avoided serious injury or death. That’s why, we encourage our customers to wear their life jackets every time they are on the water.