Boat insurance is important for any boat owner, it provides financial protection against accidental damage to your watercraft, or injuries caused to others by your boat. It also gives you peace of mind, allowing you to fully enjoy your time on the water without worrying about the unexpected.

We can provide you with a personalized quote that fits your specific needs and budget. Get the peace of mind you deserve with a no-obligation quote today!

Do I Need Boat Insurance?

Did you know that boat insurance is not required by law in South Carolina? Unlike cars, motorcycles, and other motor vehicles, liability insurance is not mandatory for boat owners. However, just because something is not a legal requirement, does not mean its not a good idea.

Liability insurance protects you and your assets in the event you cause damage or injury to someone else. Just like a wreck on the road, if you damage another boat, you are responsible for those losses. If you’re getting your boat out of the water at the landing and hit another boat that is tied up near you and damage it, you may financially responsible.

If you don’t have liability insurance, you’ll be paying out-of-pocket, or worse, may get sued. Carrying a sufficient amount of liability insurance is an important part of protecting your financial wellbeing if you are boat owner.

How Much Liablity Insurance Do I Need?

Simply put, enough to cover your obligations. However, you won’t know what those are until after an accident occurs, so a better way to look at it is just to consider the possibilities for losses. If you own a boat, you know how expensive they can be, and even if you don’t own a very expensive one, just take a minute to look up how expensive some of the bigger boats you see at the landing are. There are plenty of boats on the water that cost well over $100,000, and that isn’t even talking about bigger yachts, which can reach into the millions.

There is also bodily injury liability to consider, and a serious injury or death can very easily lead to hundreds of thousands of dollars of liability. That is more than just about anyone wants—or can afford—to pay out of pocket.

A good rule of thumb to go by is to have enough liability coverage to qualify for a personal umbrella policy. For most insurers, $300,000 per person in bodily injury liability, and $300,000 in property damage should be enough, though different companies will have various requirements. Then, adding the personal umbrella policy on top of that to provide another $1 Million in liability protection would provide very solid protection to you and your assets.

What About Coverage For My Boat?

On your car, you probably have Collision and Comprehensive coverage, designed to pay for damages to your own vehicle. On a boat, you’ll often hear similar coverage referred to as “hull” coverage, referring to the actual body of the boat, although the policy can include coverage for the boat, motor and trailer.

Hull insurance typically covers physical damage to a watercraft, such as damage from sinking, fire, storms, and collisions. This can include the hull, deck, machinery, fittings, and equipment on the watercraft. Some policies may also cover loss or damage to the watercraft while in transit, such as during shipping or when being stored on land. It is important to check with your agent about these coverage details as different companies offer different coverages.