What Is Watercraft Insurance?
Watercraft insurance is an insurance policy that provides coverage for boats and personal watercraft. Watercraft insurance, also known as boat and personal watercraft insurance, often includes towing and wreckage removal, as well as fuel spill indemnification. This type of insurance may be purchased for sailboats, house boats, and pontoon boats, as well as other watercraft up to a certain size and value.
Why Do I Need Watercraft Insurance?
Watercraft insurance covers most watercraft with motors, including fishing boats, sailboats, pontoon boats, paddle boats, leisure crafts and yachts. Most states do not legally mandate that watercraft must be insured. To find out, go online to check your state’s watercraft titling and registration requirements. But even if your state doesn’t require insurance, your bank won’t give you a boat loan without it, and most marinas also require you to have watercraft insurance before they’ll rent you a slip or mooring.
Watercraft insurance usually does not cover canoes, kayaks, row boats or personal watercrafts such as jet skis. Personal watercrafts are generally defined as motorboats less than 16 feet in length that are powered by jet pumps, not propellers, where the persons stand, kneel, or sit on, rather than inside the boat.