Watercraft Insurance

Did you know that boat insurance policies have been sold since the 17th century? Despite how easily available this vital protection is, you may be shocked to learn that a surprisingly small percentage of boaters actually have good watercraft insurance...

Some boat owners assume that their boat is covered under their homeowners insurance policy. But the fact is that, depending on the contract, the coverage is often very limited for a boat or other watercraft on a homeowners insurance policy, and only a very limited number of such vehicles would even qualify for this coverage (boats no longer than 14 ft, with motors no stronger than 25 horsepower).  On top of that, the homeowners insurance policy may only cover your boat when it is at your home.  And that's not much help for something we refer to as a watercraft.

Let us help you to demystify the question of watercraft insurance...

 

The insurance industry differentiates between 3 types of boats:

  • Anything less than 16 feet long is usually called "personal watercraft" by insurers. This includes JetSkis, Waverunners, Tigersharks, Wet Bikes and Sea Dog models, as well as Jazz and Rage "mini boats"
  • "Boats" are 16 to 25 feet 11 inches.
  • Anything at least 26 feet long is classified as a "yacht".

Considering that a boat is an expensive asset, that the boating industry is growing, and that a mandatory boat safety education only just started to come in effect in some states, buying insurance to protect your boat is not so far-fetched.

Overall, auto insurance and boat insurance are very similar. Like with your auto insurance, you want your boat insurance to protect you against:

  • Damage to your boat and/or marine equipment.
  • Damage and pollution in case your boat sinks.
  • Damage and liability caused by your boat hitting another.
  • Medical expenses as a result of a boating accident.
  • Damage and injury done by a negligent uninsured boater.

Here are some ways to lower your California boat insurance rates:

  • Make a good choice on the type of boat that you are going to buy: Choosing safety over a sporty type will keep your rates lower.
  • Also, the value of the boat will make a difference. The higher the boat's value, the higher the premium.
  • Many companies will offer a discount if you take and complete a boating safety course. This will help you make the right call in a critical situation.
  • Also, touch base with the insurance company that handles your auto and home policies. Many insurers offer significant discounts if you have several policies through them.

Before you go out on the water, talk to the experts at the GDI Insurance today.  You can even fill out the no-obligation Protection Savings Form on this page and we will provide you with the best quote we can find.  We want to make sure you know how to get the best protection available at the lowest price possible!