Boat Insurance

Boat Insurance

Boat Insurance

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The Basics

Small boats, such as a canoe or other un-motorized boat, are typically covered under the personal property portion of your homeowners insurance policy. If you are the owner of a larger, faster boat, you’ll need a separate boat owner’s insurance policy. This can help to insure your investment in the event of loss due to the following risks:

  • Fire

  • Theft

  • Stranding

  • Collision

  • Explosion

  • Sinking

  • Capsizing

  • Storms

Ensure Smooth Sailing Ahead

You purchased a boat to provide years of personal enjoyment. Protect your pleasure for years to come by choosing the right insurance protection plan.

Coverage Basics

A typical boatowners insurance policy is designed to protect your motor, boat, equipment, and passengers. It affords similar coverages to those typically included for your car such as:

  • Bodily injury coverage, if someone else is injured

  • Damage caused to someone else’s property by your watercraft or boat

  • Liability coverage for your passengers, which would include family and guests

  • Medical payment coverage for injuries to the occupants of the boat

  • Loss, theft, or damage to the boat and attached equipment

Physical Damage

Physical damage coverage insures your boat, motor, boat trailer, boat equipment and other personal property against damages or accidental loss. Physical damage also helps to safeguard your boat equipment, including anchors, oars, life jackets, fuel tanks, dinghies, tools, and canopies.


Two principal liability coverages are included:

  1. Personal Liability – A boatowners insurance policy provides protection for legal liability and pays up to the limit of your policy, the legal obligations imposed upon you due to an accident resulting from the ownership, maintenance, or use of your watercraft. This coverage includes bodily injury, legal defense, and property damage.

  2. Medical Payments – This pays medical expenses, up to the limits in the policy, including the insured’s boating-related medical expenses from an accident arising out of the maintenance, ownership, or use of the boat. Expenses include medical, hospital, ambulance, etc.

Additional Coverage Options

For added protection, consider the following additional coverage options:

Umbrella Liability: Provides additional boat insurance coverage across the board for auto, home and watercraft.

Reasonable Repairs: Covers repairs incurred to protect covered property from further damage.

Wreck Removal: Pays the reasonable expenses you incur for any attempted or actual raising, removal or destruction of the wreck of your watercraft when damage is caused by an insured loss and removal or destruction is required by law.

Emergency Service: Pays for reasonable costs that you incur resulting from specified emergency service to your boat, boat trailer, or motor.

Top Ways to Save

  • Running your boat on diesel fuel instead of gas reduces both your insurance premium and risk.

  • Ask about our multi-policy discount

  • A boat fire can be devastating. Having approved fire extinguishers on board can be a premium saver.

  • Complete an approved safety course through the Coast Guard, U.S. Power Squadrons, Red Cross or other state administered course

Boating on the open water can be unpredictable, but your coverage shouldn’t be. Whether your boat is big or small, it’s an investment. Make sure yours is properly protected by calling Midwest Insurance Group, LLC today at (262) 646-5777 to learn more about all of our insurance solutions for all of your home, recreational, and auto needs.