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Boat Insurance 101: What is Boat Insurance?

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weed ross boat insurance 101

Who doesn’t love a good boat ride? Bouncing up and down in the waves, the sun shining on your sunblocked forehead, tubing until your arms fall off, and listening to your uncle shout nautical terms like “land ho!” when you reach the dock. Everything about lake life is truly spectacular. At Weed Ross, we totally understand. We, too, are infatuated with watersports, sailing, and life on the lake.

But boats and watercrafts are investments. And like any other investment, boats should be protected by insurance. Accidents inevitably happen, especially when fun gets mixed with powerful, expensive machinery. But what exactly is boat insurance? Most people know very little about it, even if they know the difference between jibing and tacking. But here at Weed Ross, we leave no one behind, so we’re here to cover all of the basics of watercraft and boat insurance. Climb aboard, and welcome to Boat Insurance 101.


In this article, we will cover:

What Exactly is Boat Insurance?

Boat insurance, or watercraft insurance, is a type of protection that covers boat owners in the event that their vessel is damaged or destroyed, or even if it damages something or someone else. Like car insurance, boat insurance also insures the people in the boat, but boats are not, in fact, covered by your auto insurance policy. And personal watercrafts (PWCs) are sometimes covered under your boat insurance policy, but not under your recreational vehicle insurance. All sorts of incidents and accidents can occur out on the open water, and boat insurance is designed to protect you, your loved ones, your property, and your fellow lake-goers.

What Does Boat Insurance Actually Cover?

Boat insurance operates and functions quite similarly to car insurance, with a couple exceptions. Firstly, boat insurance is primarily focused on two main areas of coverage: liability and physical damage. In a comprehensive boat insurance policy, the liability section will outline the extremely important coverages of removal or disposal of a wreck, as well as fuel spill coverage. In the physical damage section, boat insurance policies will cover necessary repairs and even total loss that result from a vast range of perils. Basically, a good boat insurance policy offers coverage for things like:

  • Collision damage
  • Property damage
  • Bodily injury
  • Theft and vandalism
  • Medical payments 

What Types of Watercrafts Does Boat Insurance Cover?

Boat insurance covers all sorts of different watercrafts. Some insurance packages are more inclusive than others, so it’s important to read the fine print. If you’re not sure, you should discuss your boat insurance coverage options with the experts at Weed Ross, and we’ll make sure to keep you afloat. Most of our insurance providers, however, offer coverage for:

  • Power boats
  • Fishing boats
  • Sailboats
  • Pontoon boats
  • Personal water crafts (PWCs)
  • Antique boats 
  • Wakeboard or ski boats

What Factors Affect the Cost of Boat Insurance?

Boat insurance costs vary greatly, and they typically depend heavily on the type of vessel you’re looking to insure. But other factors play important roles in determining your boat insurance premium. Common determinants include the boat’s value, size, age, and type. But some boat insurance packages also consider things like the body of water on which you’ll be using it, the condition of the boat, the safety devices on your boat, the length of the off season, and more. If you’d like to get a more exact quote, feel free to use our simple boat quote tool, or give us a call directly.

Still have questions about boat insurance? Looking for a sailing partner? Need a spotter? No matter what you need, we can help. Give Weed Ross a call today and let’s make sure your boat is not only fun, but also protected.

450 Olean Rd.
East Aurora, NY 14052

716-652-4203

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