Boat Insurance in Massachusetts
Boat insurance policies are like car insurance policies in some ways, but they’ve been adapted to mitigate against the risks that being on water present. As boaters peruse policies, they’ll notice both similarities and differences between boat and auto policies.
Residents who own expensive powerboats, sailboats and jet skis may want both the property and liability protections. Boaters who have financed vessels like these might even be required by the terms of their loan to maintain a minimum level of property coverage. Lenders often include such requirements to protect their investments in financed vessels.
Medical Payments Coverage
Bodily Injury Liability Coverage
Comprehensive and Collision Coverage
Property Damage Liability Coverage
What is Boat Insurance?
Many people enjoy boating during Massachusetts’ warmer months, but the sport comes with a certain level of risk. There are thousands of on-water boating accidents each year, and some of these involve significant injuries or property damage. Boat insurance policies don’t stop boating accidents from occurring — boaters must still use caution while boating — but policies can help boaters survive the financial fallout if something does happen on the water.
Boat insurance policies are like car insurance policies in some ways, but they’ve been adapted to mitigate against the risks that being on water present. As boaters peruse policies, they’ll notice both similarities and differences between boat and auto policies.
What Coverages Does Watercraft Insurance Provide?
The similarities and differences between watercraft and auto policies are perhaps most evident in the coverages that the two types of policies provide.
On the one hand, both watercraft and auto policies usually make the following coverages available as standard or optional protections:
- Medical Payments Coverage, which frequently covers injuries sustained by people on or in the insured vessel or vehicle
- Bodily Injury Liability Coverage, which frequently covers injuries sustained by people outside the insured vessel
- Comprehensive and Collision Coverage, which frequently covers damage sustained by the insured vessel
- Property Damage Liability Coverage, which frequently covers damage caused to other people’s property
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On the other hand, watercraft insurance policies sometimes include the following coverages that typically aren’t (for obvious reasons) found in auto policies:
- Coverage for fishing tackle and other sports gear kept on a vessel
- Coverage for safety items kept on a vessel
- Coverage for on-water towing by another vessel
- Coverage for recovering a vessel that has sunk
In both cases, watercraft and auto policies’ exact coverages often vary from these particular lists. The coverages mentioned are only intended to be possible examples.
What Massachusetts Residents Need Watercraft Insurance Policies?
Most people who live in Massachusetts and own a boat can benefit from having watercraft insurance.
Residents who own expensive powerboats, sailboats and jet skis may want both the property and liability protections. In some cases, boaters who have financed vessels like these might even be required by the terms of their loan to maintain a minimum level of property coverage. Lenders often include such requirements to protect their investments in financed vessels.
Those who have smaller boats that are inexpensive, such as canoes and rowboats, may not need the property protections since their boat isn’t worth a lot. They might still, however, want the liability protection that watercraft insurance can offer. People in smaller boats can still suffer serious accidents on the water, after all.
How Can Residents in Massachusetts Get Boat Insurance?
For help finding Boat insurance in Massachusetts, contact the independent insurance agents at Scotti Insurance Agency. Our agents can request architect policies from multiple insurance companies in the state on your behalf, and they have the expertise needed to help you determine which one is best for your situation.
