Boat insurance is a valuable investment for boat owners of all types. Whether you own a small fishing boat or a large yacht, finding the right policy will ensure that you are covered for whatever the future holds. As you shop for a policy, you may have some questions about what type of coverage to secure.

4 FAQ About Boat Insurance

What should your policy cover?

At a minimum, your insurance should have liability coverage. Bodily injury liability insurance covers the medical bills if someone is injured in an accident related to your boat. Property damage liability coverage covers the cost of repairing or replacing property (including other boats) damaged in an incident.

It’s also wise to get collision damage to cover repairs to your own boat, and comprehensive coverage to recoup financial losses if the boat is stolen or vandalized.

What factors will affect your rate?

boat insuranceThere are many factors that will affect how much your policy costs. The higher the risk for the insurance company, the more you’ll pay for coverage.

The state you live in and the value of your boat will impact costs. Generally, it is more expensive to insure boats on the open sea compared to inland water vessels.

Is it required?

Requirements will vary depending on where and how you use your boat. For example, commercial boats have much stricter insurance requirements than private vehicles. Some marinas will require liability coverage if you operate your boat in their area.

How much coverage do you need?

Generally, it’s wise to get a minimum of $1,000,000 in liability insurance. You may also want at least $10,000 in uninsured or underinsured motorist coverage.

If you buy a new boat or have a high-end motor, it is smart to add supplemental coverage. Your agent can help you find the right policy to cover your unique vehicle and usage needs.


Sweeney Insurance Agency offers comprehensive boat insurance solutions for clients throughout Kodiak, AK, and the surrounding area. For more than 40 years, this independent insurance agency has been providing policies from top national providers such as Safeco® and Allstate®. Learn more about how they can help you online, or call (907) 486-3101 to request a quote.