Does Homeowner’s Insurance Cover Boats?

While every policy is different, in most cases, homeowner’s insurance policies only offer limited coverage for boats. In this post, we’ll walk you through everything you need to know about whether or not homeowner’s insurance covers boats and the advantages of purchasing a dedicated boat insurance policy instead.

What Does Homeowners Insurance Cover?

Most home insurance policies offer two main types of coverage: property damage and personal liability. Here’s what you need to know:

• Property damage that is typically eligible for coverage under a homeowner’s policy is damage to your property including your home, structures on your property like sheds and garages, and personal property. Note that cars and trucks are not typically covered, but a boat may be covered—though with limited coverage.
• Personal liability coverage provides financial protection for events where another person is injured and you are determined to be at fault. This type of coverage can cover things like legal costs and medical expenses related to the injury.

Homeowners Insurance & Your Boat

While not all home insurance policies provide coverage for boats, some do offer this coverage. In those cases, however, the policy will usually only cover property damage to your boat while it is on your property.

Your homeowner’s policy may include coverage for damage to your boat while on your property caused by:

• Weather (wind, hail, etc.)
• Fire
• Theft
• Vandalism
• Personal property loss

Instances NOT typically covered by homeowner’s policies include:

• Damage that occurs off of your property
• Damages exceeding coverage limits (generally only around $1,000)
• Boats that do not meet certain characteristics (homeowner’s policies may include stipulations on the types of boats that will be covered—like only boats that go less than 25 MPH or only sailboats under 26 feet).

Coverage for every policy will be different, so it’s important to verify what your specific policy will cover. The best way to understand the exact coverage your homeowner’s policy offers for your boat is to review your policy documents or speak to your agent.

Why Choose a Boat Insurance Policy Instead?

While some boat owners may be satisfied with the minimal levels of coverage that their homeowner’s policy provides for their boat, many other boat owners will require greater coverage.

There are three key reasons to invest in a dedicated boat insurance policy:

• Your homeowner’s policy does not provide coverage for boats or for your specific type of boat. If your home policy does not cover your boat, a boat insurance policy can provide the coverage you need to protect your investment.
• You want more coverage options than your home policy provides. Boat insurance policies provide far more comprehensive coverage for your boat than a typical home insurance policy. In addition to property damage, your boat insurance policy can provide coverage for collision damage, bodily injury, passenger liability, emergency service, tow and wrecking coverage, and more.
• You want a greater coverage limit than your home policy provides. Most home policies typically only offer around $1,000 max for boat property damage. Boat insurance policies, however, can cover the full value of your boat, offering better protection for your investment.

Request a Boat Insurance Quote Today

If you need more coverage for your boat than your home insurance policy provides, boat insurance is a great option. Request a free quote from Maritime Insurance International today!

Request Quote