How to Choose the Right Boat Insurance Policy for Your Needs

A boat is an investment that needs financial security in case of accidents, damage or theft. The right insurance policy may provide essential funds to help cover costs from accidents, weather damage or liability claims.

Is Boat Insurance Required?

Boat insurance requirements vary by location. Missouri has no state law mandating boat insurance, but coverage may still be necessary in certain situations. If you finance your boat, lenders typically require insurance until the loan is paid off. Many marinas also ask for proof of coverage before allowing docking.

What Does Boat Insurance Cover?

Boat insurance policies may include various types of coverage, such as the following:

• Collision coverage may pay for your boat’s repair or replacement costs if damaged in a collision.

• Comprehensive coverage may cover damage to your boat caused by a noncollision incident, such as fire, storm or vandalism.

• Liability protection may cover legal and medical costs if you cause injury to another person or damage their property.

• Medical payments coverage may help with minor medical expenses for you and your passengers after an accident.

• Uninsured/underinsured boater coverage may provide financial support if another boater causes an accident and doesn’t have enough coverage.

• Towing coverage may pay for your boat’s towing costs if it breaks down on the water.

The size, style and value of your boat, and the waters where you operate it, influence the type of coverage you need and the cost of your policy. Review your policy to understand which risks are included, as well as your coverage limits are.

Learn More

Finding a policy that aligns with your boating habits and financial situation can make a big difference. Safeway Insurance in Kansas City, Missouri, offers tailored solutions to keep you financially prepared for the unexpected. Contact us today to explore your options and get a quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.