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Thread: boat insurance?

  1. #1
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    Default boat insurance?

    Just wondering if insurance is needed for a boat ? I would assume so but just wanted some clarification...

    thanks
    A bad day fishing is always better than being on the couch!!

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  3. #2
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    Generally not required.
    If you rent a slip at some marina's they may require it.
    Still a good idea to have it though.




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    Living proof that "beer builds better bellies".

  4. #3
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    You should get insurance, if not for the boat itself (theft) then get it for liability reasons.....
    Most home insurance plans cover the boat while on your driveway/garage etc... (theft/vandalism)......
    Most car insurance covers your liability issues when towing..
    But boat insurance covers theft all other times (docked on the water) and the liability portion of the boat insurance covers you while on the water.....
    This is my basic understanding on how it works.... you should get it, its pretty cheap and can save your way of life if something should go wrong.
    "Everything is easy when you know how"
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  5. #4
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    Insurance for my boat is only $138 per year which covers PL & PD while on the water. Motor vehicle insurance covers while hooked to the truck and house insurance covers while in the driveway or in winter storage. If you think about how quickly things can "go south" while launching or docking at busy ramps,it's worth the money.
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  6. #5
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    It depends a lot on the value of the boat. I have a couple used tin boats with inexpensive used outboards that I don't insure as the deductible would be more than the value of the boat. However I have 2 bass boats worth many thousands that are covered with theft, collision, fire and liability. The expensive fish finders and equipment have separate riders. Once I had the theft of all my fishing gear locked inside the cabin and it was all covered by insurance. Another time I hit a rock and severely damaged the out drive and it was covered. A third time I had an engine fire on a boat with an in board out board engine and it was also covered. On each claim I was glad that I had gone to the trouble of getting proper insurance. Some of my boats have had separate independent policies but right now they are added as riders to my home owners policies. Talk to your broker and get his/her opinion.
    Rick in Muskoka.
    Rick in Muskoka

  7. #6
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    I never new that I thought if you put it on public water you needed insurance ,I have always had mine insured .Dutch

  8. #7
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    Boat insurance not required but a good idea to have it, just add it on to your house policy. I have had two events over the last 30 yrs. where the insurance paid off, 1st was around 1988, I had my boat at the local marina for the fishing derby and went down one morning to go fishing and all 4 electric downriggers were gone plus a fishfinder and some misc. items, called insurance co. and no problem I was reimbursed for my loss, still a po not being able to go fishing for a few days. Other event last march when my boat storage shed collapsed from snow load, had checked it the day before and everything looked alright but we got about 8" of wet heavy snow in a 2 hour period overnite, went out the next day and found the damage, boat was a write off plus a fishfinder, several fishing rods, swivel seats etc. called insurance co. and no problem, paid replacement value on boat and contents plus a new shed. So in my opinion insurance is a must especially with all this liability crap anymore.
    Hope for the best, prepare for the worst!

  9. #8
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    I added it while I still owed money on it. Now I keep it just for oopsies and theft, etc. I pay about $200 pl/pd, fire, theft, liability with replacement value, not book value.
    Learn all you can about nature. What we don't understand, we fear and what we fear, we destroy.
    Teach a young person to hunt and fish, after all, someone taught you.

  10. #9
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    Having the boat insured wouldn't be a bad idea. There can arise a situation where in your boat might get stolen or perhaps it meets with an accident(just saying) that could take a huge hit on your wallet. In order to prevent that from happening, it would be wise to insure. I store my boat at a facility( http://www.migsonstorage.com/ ) in Toronto because of a lack of space in my backyard. I have insured it just in case if it gets stolen although I strongly believe it wont.

  11. #10
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    when i called about it for me i found out that i had coverage through my house insurance no extra charge

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