Boat Insurance, Don’t Hit the Water Without It

Which States Require Boat insurance?

State	Required?
Arkansas	YES
Hawaii	YES
Utah	YES

Unlike the other 47 States, in Arkansas, Hawaii, and Utah, citizens who own any type of boat are required to have boat insurance in the State. However, some other States will require a boating license instead.

Which States require a Boating License?

State	Required?
Alabama	YES
Delaware	YES
Georgia	YES
Mississippi	YES

Although only 4 more States are added to the list: Alabama, Delaware, Georgia, and Mississippi; this does not mean that the remaining 43 States do not have some form of requirements when it comes to boating.

In fact, insurance may be required depending on the type of boat, horsepower, marina you will be docking it at, or even when financing the boat.

It is always best to look into your States requirements to see what is needed or by contacting an agent to see your options for obtaining boat insurance.

Boat Insurance Progressive: Standard Coverages

Within our company we work with many carriers. One of them being Progressive, which is widely known! Progressive offers a variety of insurances such as auto policies, homeowners policies, boat policies and many more!

Progressive boat insurance includes multiple coverage options to choose from:

Coverages	Explanations
Full Replacement Cost	They will cover the expenses of the watercraft to its pre-accident condition or better when carrying Collison and Comprehensive coverage.
Bodily Injury and Property Damage Liability	This will help cover you in the case of a boat accident. Liability boat insurance will pay for the expenses of others injured, damaged property, repairing/replacing any watercraft vehicles, and legal costs when sued if you are found liable.
Fuel Spill	They will pay for fuel that has been lost due to: tank leaking, boat sinking, or a fuel station mishap.
Wreckage Removal	If removal is legally required, they will pay to have it removed from the water.
Roadside Assistance	They will cover the expenses to tow your boat to the nearest repair shop as long as you have trailer coverage on the policy.
Water Sports Coverage	This coverage will pay for any damages or injuries when doing fun boating activities such as tubing, wakeboarding, etc. However, any other activities that involve an individual to be in the air, such as parasailing, will not be covered under this.

Now with Progressive boat insurance, you do not need to hold every single coverage listed above. These are standard coverages that Progressive offers. However, Progressive has other unique coverages for boat insurance that other carriers will not offer.

Boat Insurance Progressive: Unique Coverages

Unlike other carriers we offer, Progressive has a wide range of different coverages to choose from when it comes to boat insurance.

Besides the standard coverage they already offer for boats, they offer additional unique coverages you may not find with other carriers. Some of these options start from as little as $10 per year! Sounds like a fantastic coverage deal to get your hands on!

The other unique coverage options to choose from Progressive will be listed below:

Coverages	Explanations
Total Loss Replacement	If you are the original owner of the boat (the model is not over a year old) then you are eligible to get this coverage. If the boat you own is totaled within 5 model years then they will either buy you a new version of that model or they will give you the amount of money originally paid for the totaled boat. Once outside the 5 year model mark, they will only give you the original price of the boat you purchased.
Slide and Glide On-Water Towing	This coverage will give support if the boat becomes disabled or breaks down while in water. It will allow for the boat to be towed, jump started, fuel delivery, or even soft un-groundings. None of these options will be paid out of pocket by you.
Fishing Equipment or Carry-On Items	This allows you to receive up to $10,000 for any fishing equipment that were stolen or lost along with up to $5,000 for any personal property such as phones, scuba gear, and other items that would be carried on board.
Propulsion Plus Mechanical Breakdown	They will replace or repair the motor units if you have a mechanical break down. This includes the lower units of an outboard motor, along with upper and lower units of an inboard or outboard motor. This coverage starts at $38 per year. However, it will not cover inboard motors alone or jet drives.
Comprehensive Coverage	Similar to auto insurance, this will cover any external damage done to your boat such as, flooding, fire, wind, theft, etc.
Collision Coverage	Also similar to auto insurance, this will cover any damage done to the boat when involved in an accident, hitting a dock, boat, or submerged object, along with any injuries to pets that are presently onboard during the incident.
Uninsured/Underinsured Boater	This coverage will pay for any injuries and damages up to your policies limits. This coverage would be used in the case of an accident where the other boat operator has either no boat insurance, or simply not enough insurance.
Medical Payments	Depending on the limit you set for this coverage; it will pay for any expenses for medical bills for you and/or the passengers’ on the boat in the case of an accident.
Trailer Trip Interruption	This coverage costs as little as $10 a year! It will pay for food, hotel, and other transportation costs if you break down at least 100 miles from your home (the maximum reimbursement is up to $500).

Boat Insurance Cost

Now it comes down to the numbers. Although, not every individual who owns a boat may need insurance on it, it is always a good idea to have it. Typically, the average person pays anywhere from $200 to $500 per year with common boats.

However, some premiums can be as little as $100 per year up to $1,000 annually.

Long story short, the price you will pay will depend on:

• Location
• Make and Model of Boat
• Boat Condition
• Deductible
• Cruising Area
• Storage Location
• Boater Experience
• Lay-Up period
• Boat Insurance Discounts

Boat insurance is just like a life jacket, you never know when you might need it. Give us a call to discuss your watercraft needs and the companies we work with. 

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Last Updated on April 4, 2024 by Marlon Moss