I just bought a speed boat – do I need insurance?

speed boat

The short answer is to check with your state requirements. In most states, speed boat insurance is not required, but that doesn’t mean you shouldn’t consider it.

Boat accidents are more common than most would like to admit. No matter what our level of boating experience, accidents do happen and it’s important to protect yourself and your loved ones from unforeseen expenses should there be an accident.

Want to Lessen Your Chances of an Accident? Here are some helpful safety reminders:

  • Don’t operate a boat until you take a safety training course
  • Don’t allow inexperienced drivers to operate your boat
  • Always look in all directions when deciding where to navigate your boat
  • Avoid racing
  • Do not drink excessive amounts of alcohol while operating a speed boat

Because accidents do happen, here are 4 types of insurance to look into:

  1. Property Damage Liability Coverage: Property damage liability insurance covers you in case you damage another boat, a dock, or other structure.
  2. Bodily Injury Liability Coverage: Bodily injury liability coverage protects you in case you injure another person while operating your speed boat.
  3. Collision Coverage: Collision insurance covers your boat and trailer if an accident damages your boat.
  4. Comprehensive Coverage: Whether you are driving, docking, towing, or storing your boat, it is at risk of many types of damage, for example vandalism. Comprehensive coverage covers instances like this.

Are there any ways to make boat insurance more affordable?

If you are a speed boat enthusiast, practicing safe driving and remaining claim-free is the best way to keep your boat insurance costs down.

Have Fun, Be Safe

This summer have fun but make sure you, your loved ones and your boat are protect by practicing safe boating techniques and having the right insurance. Before hitting the water, check with your insurance agent to make sure you have enough coverage in case of an accident.