If you’re new to boating, you might assume that your homeowner’s insurance policy will cover your boat. Unfortunately, that’s not the case. A boat is treated as a separate asset and requires its own specialized insurance policy, much like how your car needs auto insurance. However, some insurance carriers may allow you to bundle your boat policy with your auto or homeowner’s insurance for potential savings.

Boat insurance policies offer coverage tailored to the specific risks associated with watercraft.  A typical boat insurance policy includes liability coverage for injuries sustained by others on your watercraft, as well as property damage resulting from collisions with docks or other boats. Additionally, boat insurance offers options for either replacement cost or actual cash value in the event of a total loss. Comprehensive coverage is also available to protect against theft, vandalism, fire, and flooding. For added peace of mind, you can also purchase coverage for personal property, including fishing gear, and opt for uninsured boater coverage in case you’re involved in an accident with a boat that doesn’t have insurance. Many policies also offer roadside assistance for towing needs.