Boat Insurance: How it Protects You & What It'll Cost

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What is Boat Insurance?

Similar to Commercial Auto insurance, Boat insurance is there to protect you should an unforeseen event arise out of the use of your boat. Coverage usually includes injury to others, damage to your boat, or if the boat is stolen.

You should keep in mind that Boat insurance is designed to cover watercraft that has a motor, not things like kayaks or canoes.

If coverage is needed for watercraft without a motor, check your homeowner's policy for some possible limited coverage. If this concerns you, talk to your insurance company about it. There is a possibility that they can add an extra endorsement to your policy to give broader coverage.

How Much Does Boat Insurance Cost?

When it comes to Boat insurance, there is no set price. There are so many factors to consider when determining the price, that it is best to work with your agent to get a quote. Some factors that will influence the premium are:

  • How much your boat is worth.
  • The size and year of your boat.
  • What kind of boat it is.
  • How much horsepower your boat has.
  • Where you keep your boat.
  • Where you plan to navigate and what you intend to do.
  • If you have had any past claims.

If you are considering purchasing a boat to start a business or have a boat to take your clients or employees out on occasional excursions, make sure you protect your business by purchasing a Boat insurance policy.

How Much Does Boat Insurance Cost?

When it comes to cost of Boat insurance, there are so many factors to consider. That's why it is best to work with your agent and discuss the following factors before getting your quote:

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