How Much Boat Insurance Do I Need?

While boating is fun and provides hours of relaxation, knowing you and your family have protection against unforeseen events is more fun. As with other insurance types, your boat insurance should meet your legal and contractual obligations while ensuring you are comfortable with your risk exposure. The team at The Insurance Shop USA, serving the Sandpoint, ID area, will review these issues with you and structure coverage that best meets your needs.

Boat Insurance Considerations

Idaho does not require boat insurance by law, but your lender or the marinas you use may have requirements. Boat insurance comes in many shapes and sizes. However, it commonly covers the liability from damage to the property of others and medical costs related to injury to others.

How much additional insurance you need depends on the optional coverages you choose and your ability to handle the financial consequences of certain events or losses:

  • Collision: repairs or replaces your boat following an accident
  • Specialty: covers extra or nonstandard equipment
  • Other options take mechanical breakdown, salvage, and fuel spills

Finally, umbrella insurance protects beyond the liability covered by your base policy. It takes effect only if you have significant claims.

Policies generally have minimum coverage amounts with others depending on your boat’s classification, value, and age. How much coverage you need beyond the minimum depends on your willingness and ability to accept risk.

Working with The Insurance Shop USA

If you are in the Sandpoint ID area, the agents at The Insurance Shop USA can provide a boat insurance policy that fits your needs. Call or stop in today to discuss your options and get a quote, so you can get back to relaxing on the water.