How Boat Insurance Can Help Keep You Afloat

Submitted by BlockInsurance on Thu, 07/09/2020 - 13:54

It’s shaping up to be a hot summer in Arkansas, which can mean only one thing: it’s time to get out on the water! Whether it is a fishing boat, a yacht, or anything in between, you may have questions on how you can be best protected as you and your family set sail. 

Here are five common questions watercraft owners have about boat insurance!

Do I need boat insurance?

While each state has different requirements, Arkansas requires boat owners to have insurance. Only if the vessel has an engine with 50 horsepower or more if yours meets that standard, you must have liability insurance worth at least $50,000. Plus, some marinas require boat insurance to use their facilities. It is always better to be safe than sorry! 

Some homeowners’ policies provide coverage for boats. However, it tends to be lacking for the larger, motorized boats. Also, many homeowners’ policies will only cover your boat if it happens to be damaged on your property, not in the water. If your boat is larger than a canoe or kayak, it’s in your best interest to insure your boat with a separate insurance policy.   

What does boat insurance cover?

Like with auto or homeowners, you have many options when it comes to having boat insurance! 

Some policy add-ons include:

  • Roadside assistance and on-water towing
  • Coverage for fishing equipment or carry-on personal property
  • Mechanical breakdown coverage
  • Ice and freezing damage coverage
  • Trailer trip interruption

What losses are covered by boat insurance?

Damage to your boat

One of the main reasons boaters purchase insurance is to protect their investment. Boats can sustain damage, between docking, launching, or unfamiliar waters. Whatever the case may be, most policies will provide coverage for the damage to your boat.

Damage caused by your boat

In most cases, your policy will be able to cover the damage caused by your boat. This is just another reason we at Block Insurance recommend all boaters consider insurance. Your boat does not have to be expensive to cause extensive damage! Whatever may happen, you will be glad you purchased insurance.

Injury due to your boat

Liability coverage protects you if a passenger or other boater is injured. Liability also protects against costs if you are responsible for property damages or injury to someone other than yourself or a family member. This is the “just-in-case” component of the insurance policy that could be needed. What if a passenger was injured trying to jump a wake on skis, or if someone fell between your boat and the dock while boarding - something we hope will never happen, but you will want to have these situations covered!

What are some claim examples you can file on your policy?

While paying on claims is based on your policy’s coverage, there are some common claims that we receive for boats.

When your boat is struck by elements underwater

Underwater hazards are not only common, but they pose a significant risk to your boat. However, if you have comprehensive and collision coverage, you can rest assured knowing your boat is covered, that way you can make a claim if you happen to face damage from underwater objects.

When a collision occurs

Lakes are busy with boaters trying to soak up the sweet weeks of summer, all while social distancing, of course! With so much activity on the water, accidents bound to occur. Luckily, boat insurance here at Block Insurance typically covers you against boat collisions. If your boat is insured and includes collision coverage, you are always able to make a claim. 

When your boat gets damaged by weather

Extreme weather conditions can also pose a significant risk to your boat. At any time, lighting, wind, hail, or severe storms can damage your boat. Luckily, with a policy that includes weather damage coverage, you can always file a claim in case your boat gets damaged by extreme weather.

If you’re looking for boat coverage in Northeast Arkansas, or have questions about insuring a boat, contact Block Insurance today at 870-236-8744.


The more you know about your coverage, the better off you are!