What is Boat Insurance?
Boat insurance is somewhat like auto insurance, except it’s designed for protecting boats and boaters rather than automobiles and drivers. A typical boat policy has a number of coverages that may protect the boat from damage and theft, and the policyholder from boating-related liability lawsuits.
Who in Massachusetts Needs Watercraft Insurance?
Most Massachusetts residents who own a boat ought to have watercraft insurance.
A few homeowners insurance policies may provide coverage for select small boats, such as one- and two-person sailboats, rowboats, skiffs, kayaks, and canoes. Not all homeowners policies offer coverage for boats, though, and those that do typically only provide basic protection. Their coverage is often limited to small boats that are inexpensive and don’t have powerful engines.
Anyone who owns a boat that’s not covered by their homeowners policy generally should get watercraft insurance. Regardless of whether someone has a yacht in Cape Cod, MA, a jet ski on a lake near Springfield, MA or a fishing boat they keep near Worcester, MA, anyone who takes a vessel out on the water could be involved in an accident -- and, therefore, should be protected.