They say the best two days in a boat owner's life are when they buy the boat, and when they sell the boat.
As I don't have a boat, I can't attest to this personally, but I have heard it several times from our insureds!
Pontoons, Cruisers, Houseboats, Bass boats, Jetboats, Jet Skis, the list and type of boats can go on and on! Boats even break down from there depending on the kind of motor you have. If you haven't realized it yet, there are a lot of ways you can own a boat. There are a nearly equal amount of ways you can insured your boat!
For most people that buy a boat, you call your insurance agent and the agent will ask some basic questions.
How long is the boat?
What kind of motor is the boat?
What's the Make, Model, and Serial Number?
Does it have a trailer?
If it has a trailer, what is the trailer's Make Model, and Serial Number?
What type of waters will you use the boat?
Do you want full coverage, or liability?
These may seem like basic questions, but the agent will have some different options based on your answers. I'll give you your most often used options. As always, you should ask your agent as companies and state's rules vary, so this is an overview and not to be used in lieu of professional advice. However, if you want, we're always happy to quote your insurance, including boats and you can click this link to go to the quote page.
Option 1- Add the boat to your homeowners policy.
Depending on your insurance company's rules, you can probably add a boat onto the homeowners policy. Company's rules are different but somewhere around 25-30 foot boats can normally be added to the home insurance policy. Some companies it may be liability only, where others will let you have full coverage. Some companies will make you have the same deductible as your home, and others will let you choose a different deductible.
This is often the cheapest option for insuring your boat. This will not normally work for incredibly high end boats, yachts, or houseboats. There also may be engine types that an insurance company will not allow on a home policy.
Option 2- Get a boat policy
Most companies will offer a boat owners policy. Boat policies are more comprehensive. They often will offer additional options like having your boat towed or personal property coverage for your belongings on the boat. Boat policies will insure nearly every kind of boat except yachts and anything illegal.
The two best days in a boat owners life are buying it and selling it, but with insurance, we're interested in all the days between!