Boat Insurance: What to Know About the Cost

You need boat insurance. You have that established but now it’s time to figure out the cost of boat insurance. This is more of a complex answer than whether or not you need insurance. Like all insurance policies, companies base the rates on many different variables. This is what you need to know to figure out how much your insurance will cost you per year.

What Can You Expect With an Average Boat?

Even if you have an average sized boat, it doesn’t necessarily mean that there is a one size fits all option for you. In fact, the average sized vehicle may have insurance coverage that costs anywhere between $300 and $3,000 a year. It’s all dependent on the type of policies you need, along with a few other factors.

Factors That Affect Cost

The factors that affect the cost of boat insurance are as follows:

  • The boat’s use
  • Your driving record
  • Boat insurance claims
  • Additional drivers
  • Experience with boats
  • Safety equipment
  • Safety courses


In addition to these factors, you also have the different insurance rates for a variety of coverages. It’s important that you discuss it in depth with an insurance company.

Boat insurance is necessary. While most people want to know the cost of boat insurance upfront, there are too many factors to give a basic estimate without some of your personal details.