Do I need boat insurance or is my boat covered by home insurance?

You just got a brand new boat… Now you are wondering, “Do I need boat insurance or is my boat covered by home insurance?”

Here is our answer… it depends! Some insurance companies offer separate policies for boat insurance, but at Rural Mutual, we keep it simple by just adding it to your homeowners insurance policy as an endorsement. An endorsement is basically an addition to an existing policy that changes the current terms.

When you add your boat to your Rural Mutual homeowners insurance policy, consider the following:

Your premium will likely change when you add or delete an endorsement like boat insurance to your homeowners policy. The change in premium will depend on several things like which deductible amount you choose, the type of boat and how much coverage is needed.

Protect your boat in the water, on the trailer and more. Boat insurance (also known as watercraft insurance) can cover your investment from several risk exposures.

Boating Risks

These risks may include:

  • Sinking
  • Fire
  • Storms
  • Theft
  • Capsizing
  • Stranding
  • Collision
  • Explosion

What is covered?

Property that can be covered under our watercraft insurance includes equipment permanently attached to the boat as well including:

  • Anchors
  • Oars
  • Electric trolling motors
  • Radio transmitters
  • Seat cushions
  • Life preservers
  • Boat covers

Reach out to your insurance agent before you buy a boat and discuss your options.