Boat Insurance Guide

If you currently own a boat, or if you are about to buy, it is important to know about Boat Insurance, what coverages are available, and what you'll need in your specific case. NBOA creates custom boat insurance policies to reflect the needs of each boater. Please take a moment to review our NBOA Boat Insurance Guide below. If you have any questions about your boat or yacht insurance needs, please contact our professional boat insurance representatives at 1-800-248-3512.

Introduction to Boat Insurance

Unlike many other insurance products like automobile and homeowners insurance, boat and Yacht Insurance is not the relatively the same from company to company. As any insurance shopper will tell you, many auto or homeowners insurance coverages can be almost identical through several companies. However, insurers offering boat insurance and yacht insurance offer a wide range of coverages and prices can vary dramatically depending on the experience level of the company, their niche in the market, and the type of boater they wish to attract.

Boat Insurance 101

Before we get into specific types of coverages, let's begin by describing the two basics of a typical boat or yacht insurance policy: physical damage protection and liability (Property and Indemnity) coverages. The physical damage refers to the accidental loss or damage to the boat hull, motor(s), and any other equipment used to operate the boat. Liability coverage, or Property and Indemnity coverage, refers to your legal obligations to third parties. Legal matters can arise from bodily injury or death, or the physical damage to someone else's property, as a result of the ownership or operation of your boat. P&I also covers your legal defense in the case you are sued for a liability that may be covered under your boat insurance policy.