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How to Buy Boat Insurance

Depending on where you live, you may be required to have insurance if you own a boat. Mind that boats are vulnerable to external risks, particularly technical snags or body damage. So, even though it may not be required, you may want to consider purchasing Boat Insurance for protection both on and off the water.

There are two basic types of Boat Insurance. You may purchase a Boat Insurance policy from a company specializing in marine or boat insurance or it may be included into your homeowners policy as additional coverage.

Insurance companies offer special coverages for different kinds of watercrafts. They ensure all types of boats and yachts including ski or tow boats, bass boats, pontoons, deck boats, high performance boats, mini-jet boats and personal watercraft.

Boat Insurance coverages include liability and bodily injury coverage that provides boat owners with liability in case there is damage or injury to something owned by someone else, comprehensive and collision coverage, protection off the water coverage, noncontact accidents and fuel spills coverage.

If the boat is to be used outside the U.S., additional coverages may be necessary to purchase. Thus, you Boat Insurance policy may include Canada and Mexico coverage, but these coverages should be purchased as an additional endorsement.