There really is nothing else like boating. Just ask the 87 million American adults that participate in recreational boating every year!

Having your own boat is a real accomplishment, but it is important to know all of the rules that go along with ownership.

Do you have to have insurance on a boat? Is boat insurance required or just recommended? How much does it even cost?

Keep reading to learn more about boat insurance expectations with your new boat and how to make sure you are following the law.


Why Do You Need Boat Insurance?

If you just got your boat and are relatively new to the lifestyle, it may seem like other types of insurance should cover your boat. If you have auto and homeowners insurance, why do you need boat insurance too?

Is Boat Insurance Required A Guide for Boat Owners

The truth is that these types of insurance usually won’t cover your boat, especially if it is in the water.

If you have a really small boat, your homeowner’s policy might offer a little coverage, but not enough for an expensive boat.

Having boat insurance protects your boat, just like other types of insurance offer protection for what they cover. Choosing to have insurance is smart when you are already spending so much on a boat and making that kind of investment.


Is Boat Insurance Required?

Truthfully, you are not likely required to have boat insurance legally. However, this doesn’t mean that you shouldn’t have it!

There are some states in the United States that require liability coverage on specific types of boats. If you are using your boat in a state park or marina, you will have to have boat insurance.

Check out your state’s titling and registration requirements to be sure of whether or not your boat type is going to require boat insurance in your state. You can learn more about the legal requirements as well to be sure you know what you are doing.

Even if the state doesn’t require the insurance, your bank might.

If you took out a loan for the boat or are keeping it in a marina, boat insurance may be a necessity.

Everyone wants to make sure that if something happens to the boat, they will be covered from loss. It is a good idea to make sure you are covered in the event of a loss as well by having insurance.


Saving Money on Boat Insurance

You can save money on boat insurance in a few ways, such as:

Be specific with the type of boat you have, including size, features, and overall structure

Get all the safety features on your boat, like a wireless auto tether, because it will get you a discount

Take a boating class to see if there are discounts offered for trained boaters

Insurers may cut your premium when you aren’t using your boat, so don’t use it as often and lay-up more often to save money

In the grand scheme of things, ensuring a boat is not that expensive. If you compare it to the cost of repairing a damaged boat or even medical bills in the event of an accident, it is nothing.

Paying for a boat is one thing, but being able to pay for all of the necessities, like maintenance, insurance, and storage, is another.


Purchase Your Boat Insurance Now

Is boat insurance required?  The answer is a little complex. However, having boat insurance is never a bad idea.

You can get a better deal on your boat insurance by doing some research in advance.

Find out about boating policies and how to choose the best one by looking at our website’s insurance tips for more information.