Boat Insurance – Make Sure You’re Covered on the Water

Small Boats

Most homeowners, condo owners or renters policies provide very limited coverage for property damage and liability coverage for small boats such as canoes, small sailboats and small power boats. Depending on the size of your watercraft, you may need to add an endorsement to your homeowner policy or get a separate boat insurance policy.

Larger and Faster Boats

For larger boats, yachts and personal watercraft such as jet skis, you need a separate boat policy. A boat policy provides for loss or damage to the watercraft and attached equipment either on an Actual Cash Value or Agreed Amount Value. It also offers liability for bodily injury to another person, damage to someone else’s property and guest passenger liability coverage.

Talk to Your Agent

While there are insurers that specialize in writing boat policies, it’s wise to contact Murphy Insurance to discuss your homeowners insurance to coordinate your boat coverage and ensure consistent and comprehensive protection. You want to avoid coverage gaps between a boat policy and other coverage, especially if you have umbrella liability insurance.