Boat Insurance Information
Congratulations! You just purchased a new watercraft and you can’t wait to take it to launch at the shore or a local lake and try it out.
But wait! What about insuring your new watercraft, it’s insured under your homeowners insurance policy correct ? Well the answer is maybe, maybe for a short while or maybe not at all.
First let’s look at liability insurance in the event you hurt someone or some one’s property with your new boat. If your new purchase is a sailboat under 26 feet or a small outboard 25 HP and under then you probably have liability coverage up to the limits in your home insurance policy. If the HP is over 25 then you do have liability only until your present home policy renews. If that new watercraft is an considered a “personal watercraft” or an inboard/outboard then most likely there is no liability coverage under your home insurance policy.
How about damage to this new watercraft? The coverage is so limited under a homeowners policy it is not even worth discussing here. The answer is contact your agent and most likely you will want to purchase an adequate watercraft policy to protect yourself and your boat.
