Everyone loves a great day on the water! An even better way to relax is knowing you have the right insurance for the occasion.

Although boat insurance is not legally required by the State of Michigan, it may be a requirement if your boat is financed. Many marinas may also require insurance before allowing you to dock your boat there or rent a slip for the season. Even if insurance is not required it is still a good idea. Like car insurance, boat insurance includes general liability which protects you in the event that you are responsible for any injuries or damages you cause. Your boat will also be covered in the event of a collision, theft, vandalism, storm damage, which provides you with peace of mind.

Coverage will vary depending on the type of craft you own. Many people think that their boat may be covered under their homeowner’s policy, however there are some limitations. Be sure to talk to your agent before making the assumption that yours is covered. You will also want to understand the limitations of your policy – some boat coverage will only cover you close to home.

Types of Coverage

Insurance coverage options will vary based on size & types of your watercraft. Options include:

Limited liability protection – This protects you in case you cause injuries or damage to another person or their property.

Physical damage coverage – This protects your boat if it is involved in a collision or hits an underwater object.

Replacement coverage – This can be either full replacement coverage or actual cash value coverage.