What every boat owner should know

Everyone has dreams of sailing the high seas at their leisure as the captain of their boat. A seaworthy vessel is an investment. Given that is not a part of your home, even if it is docked there, home insurance does not extend coverage for it unless requested. Additionally, it is not enough to cover the boat; one must also acquire protection if an accident in which the owner/driver is at fault. Coverage is based on the size and personal history of the proprietor. Read on for the ins and outs of being a responsible boat owner.

The best of both worlds

Boat insurance combines the benefits of both home and auto insurance. Guests in your home can be injured and will you will be covered in the event of an unfortunate occurrence. Similarly, if a passenger is injured on your vessel, insurance will pay for medical expenses. Auto insurance secures the policy holder in the event of an accident as will boat insurance. Smooth sailing is best served with proper coverage.

Head for coverage

Most boat owners are not aware that there is a navigational limit to their adventures. Boat insurance will cover domestic waters and some parts of Canada. U.S. waters are deemed as eligible for coverage, but unless specified, international adventures will not be covered. Driving a boat from Miami to Bimini may increase rates, but the peace of mind is worth to have the coverage.

Boat out of water

Vessels belong in the water, but docking a boat in a marina can be cost prohibitive. An owner may attach the boat to their car and drive it to their home to dock. Once the boat is not in water and is connected to a vehicle, it is covered under their auto insurance policy. Auto insurance Miami policy holders may have an easier time acquiring the coverage as it is a common thing to have a boat in the Magic City. Once at home, your home insurance may cover it as well. Ask your agent if your boat is covered under your homeowners insurance as it is not automatic.

Financial savviness

You can save money on your boat insurance in a multitude of ways. A discount rate may be offered if a boating class is taken. Knowledge is power when one knows all the safety advantages and has training in the event of an emergency. Agencies can oversell you on insurance if you are not careful. A yacht requires different coverage than a family-sized fishing boat. Invest in safety features such as a wireless tether and other preventative devices. Discounts may include a layup time that is the season when a watercraft is not in use, consider informing your insurance agency when those times can be expected for a possible discount.


Having a boat is an adventure in and of itself. Boat insurance blends the benefits of home and auto insurance. Protect your passengers as you do guests in your home as well as cover the watercraft after an accident as you do your car. Nautical adventures may only be secured in domestic waters. Ask your agent before charting a new course to secure coverage. If not docking in a marina, understand that while it may be covered with your vehicle insurance, it may not be with your homeowner policy. Take a few classes in boating safety and ask for discounts. Enjoy your nautical adventures.

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