Who Needs Boat Insurance?

Car insurance is straightforward. If you drive a car, you must have at least a liability policy. When it comes to boat insurance, things are more nuanced. At Ruddy Insurance Group, we offer boat insurance in Niles, OH. 

Is Boat Insurance Required? 

Most states, including Ohio, do not require boaters to have a boat insurance policy.

However, most marinas require some boat insurance before you rent a slip or mooring. This is typically a liability policy, but requirements vary. 

If you have a lien on your boat, your lender may require you to carry insurance to protect the investment. The policy should cover the full value of your boat. 

Are Boats Covered Under Homeowners Insurance? 

A homeowners policy provides minimal coverage for your boat. Most policies will only provide 1,000 worth of coverage for your watercraft. If your boat is worth more than this, you should consider a boat policy.

Your homeowner’s policy may also provide limited liability coverage for your boat. However, there are limitations as to the size and type of boat that is covered. 

Larger boats, or those with more than 50 horsepower, are not typically covered. Jet skis are not covered.  

Should You Get Boat Insurance? 

If you own a boat, you should consider boat insurance, even if it’s not required. You may find yourself unable to access a marina without a policy. 

A boat insurance policy also provides you with robust liability coverage. This includes damage to others’ property and injuries to others. 

Lastly, your boat is a significant investment. A boating policy can protect your investment in the event an accident occurs. 

Boat Insurance at Ruddy Insurance Group

If you need boat insurance in Niles, OH, contact us at Ruddy Insurance Group. We’ll work with you to ensure you get the right coverage for your needs.