Performance and power boats can provide an immense amount of fun and excitement. They're also a huge investment and come with tremendous risks for their owners.
Before you head out on the water in your new power boat, you'll need appropriate performance and power boat insurance to make sure you're protected if you get into an accident or your boat is damaged by an unforeseen event.
A local independent insurance agent can help you compare quotes and find the best performance and power boat insurance available.
Best Performance and Powerboat Insurance Companies
Many insurance companies that offer boat insurance. Here are some of the top companies that we recommend:
- Progressive: Progressive is based in Ohio but offers boat insurance across all 50 states. Boat owners can look to Progressive for most of their personal insurance needs.
- Travelers: Travelers offers highly rated boat insurance. It can meet your additional personal insurance needs with a full line of products, including auto, identity theft, umbrella, and other coverages.
- Foremost Insurance Company: Foremost was founded in 1952 and offers a wide range of coverage, including boat insurance, in 50 states.
- Nationwide: Nationwide provides boat insurance and other popular types of personal insurance coverage. The company is headquartered in Columbus, OH, and is represented by independent insurance agents in 50 states.
- Liberty Mutual: Liberty Mutual is headquartered in Boston, MA, and offers a full line of personal and business insurance, including boat insurance.
A local independent insurance agent can help you find the best performance and powerboat insurance company in your area.
Is Performance and Powerboat Insurance Required?
Performance and powerboat insurance is designed for boats 26 feet in length and over with speeds from 65 to 120 mph.
Only two states require boat insurance by law. Boat owners in Utah and Arkansas must have coverage for personal watercraft or for powerboats with 50 horsepower or greater. In other states, you're not technically required to have performance and powerboat insurance, but there are many important reasons to have it.
If you dock your boat at a marina, the marina may require some form of coverage in order to protect their business. And if you financed your boat, your lender will likely require you to have boat insurance.
Absent these situations, performance and power boat insurance is still the best way to protect yourself financially if you cause an accident or injure someone while operating your boat or if your boat is damaged by an event like a fire, a severe storm, or vandalism.
An independent insurance agent can help you meet any boat insurance requirements you have and can help you get the coverage you need to minimize your risks.
What Does Performance and Powerboat Insurance Cover?
A typical performance and powerboat insurance policy will include the following types of coverage:
- Hull and equipment insurance protection (i.e., property insurance): Helps you recover costs when your performance boat has sustained physical damage after an accident. Also covers personal property that you have aboard your boat, like cell phones, cameras, and so on.
- Emergency towing and assistance coverage: Covers expenses related to towing your boat if it breaks down.
- Medical payments coverage: Pays for injuries suffered by you or your passengers after a boating accident, regardless of fault.
- Boat liability coverage: Covers your responsibilities for property damage and injuries if you cause a boating accident.
- Uninsured boater coverage: Covers you and your family members if you're injured in an accident caused by an uninsured boater.
- Pollution liability coverage: Covers your expenses if you are responsible for an oil leak or some kind of pollution damage.
You can also add optional coverage for things like your boat trailer or boat lift.
An independent insurance agent can help you select the coverage that best fits your needs.
What Does Performance and Powerboat Insurance Cost?
As with most types of insurance, the cost of performance and power boat insurance depends on several factors, such as:
- The make, model, and value of your boat
- The length of your boat
- Your history of boating accidents
- Your location
- How you use your boat
- How often you use your boat
An independent insurance agent in your area can help you find performance and power boat insurance that fits your budget.
How Can an Independent Insurance Agent Help Me Find Performance and Powerboat Insurance?
When you decide to buy performance and power boat insurance, get help from an independent insurance agent. These local agents will help you find the best policy for your needs at a rate you can afford. You will feel more confident about your insurance coverage because you had more choices and more help.
