What does boat insurance cover
Boat insurance covers theft, vandalism, fire and weather-related damage. It protects you when you cause injuries or damage to someone’s property. It also covers collision damage and helps pay medical bills if you’re injured by an uninsured boater. If you’re responsible for injury to a passenger, your boat insurance will provide coverage. If you purchased medical coverage, it applies to guest passenger injuries even if you’re not at fault. Like auto insurance, standard boat insurance doesn’t cover maintenance or wear and tear.
How much is coverage
The average boater pays a few hundred dollars a year for boat insurance, but it can be much more. Several factors determine how much your premium is. Your claims history, type of boat and boating experience all affect how much you pay.
Am I required to have boat insurance
Boat loan lenders and marinas may require it. Your homeowners policy does not provide the specialty coverage you need if you’re operating a boat. Most boat rental companies offer boat insurance as part of the rental. Check with your insurance company. The liability portion of a Progressive boat policy normally applies to a rental boat; however, damage to the rental boat would not be covered. Since most boat rental companies want their boats protected, they’ll most likely require you to purchase short-term boat insurance from them.