Related resources

Related resources

Related resources

Why you need boat insurance

Hitting the open waters for the first time in your new boat is a thrill, but insuring that purchase is an important step in making sure your new investment is protected.

Understanding your watercraft insurance options now will help make sure you don’t get seasick later in the event of an incident.



If you still have questions, ask an independent agent about how watercraft insurance can help you and fit your lifestyle.


Why do I need insurance for my watercraft?

Although boat insurance is not required by some states, banks often will require you to have insurance in order to finance your boat purchase. Many ports and marinas also require insurance if you want to use their facilities.

Without the liability protection that comes with adequate boating insurance, you could be on the hook to pay substantial costs, in the event of an accident with one of the more than 11.8 million other recreational vehicles out on the water.

Do boating accidents happen frequently?

In 2019, the Coast Guard reported 4,168 boating accidents - a figure that has remained consistent year to year - that lead to $55 million of property damage resulting from recreational boating. From those accidents, there were 2,559 injuries - representing more than 61 percent of those accidents - and 613 deaths.

Are there uninsured/underinsured boats on the water?

Yes. Because boating insurance is not required by most states, if you don't have additional coverage you can be on the hook for damages or the costs of injuries that another boater causes. Some insurance companies, including The Hanover, offer uninsured/underinsured coverage to help you or another rider on your boat in the event of an incident with another boater with inadequate insurance to cover damages. with no or less insurance than what is needed.

What factors can impact my boat insurance rate?

In general, the size, type and age of your boat, as well as what state you live in, size of the motor and what body of water you will use it on can all be factors in determining cost.

Does boat insurance include all my stuff on the boat?

With The Hanover, you have the opportunity to customize your policy to cover your personal items and things like fishing equipment up to a certain agreed upon amount. Hanover's base policy includes some coverage for this and gives you the option to increase this amount.

Are there discounts available for insuring my boat?

Yes. You can save money when your auto, home and watercraft policies are insured with The Hanover. Completing certain safety and education certification courses can also make you eligible for a discount.

Talk with your independent agent to learn more about what you are eligible to save.

Where can I learn more about boating insurance?

Talk to your independent agent for more information about the watercraft insurance that's right for you. The Hanover also has helpful resources to help you start your voyage.


Safe Boating Council

Insurance Information Institute

Trusted Choice

Value Penguin

All products are underwritten by The Hanover Insurance Company or one of its insurance company subsidiaries or affiliates (“The Hanover”). Coverage may not be available in all jurisdictions and is subject to the company underwriting guidelines and the issued policy. This material is provided for informational purposes only and does not provide any coverage. (For more information visit

LC 2021-186