Homeowners Policy Boat Coverage

• Check your homeowners insurance policy for anything about boat insurance. Chances are that any watercraft is covered against damages while it's parked at your home. Some homeowners policies allow provisions to be added that cover boats against liabilities while you're out on the water, but they are often somewhat limited compared to a policy written exclusively for the boat. Ask your homeowners representative about boat coverage and any discounts available because of your homeowners policy.
  
  

Liability, Injury and Comprehensive Coverage

• Liability coverage pays for damages encountered by others because of boating accidents caused by your boat. Most liability coverage specifically outlines what is covered and does not normally include medical treatment of accident victims or loss of life in the event of accidental drowning. Such coverage is available for passengers on your boat and the boats of others. Comprehensive coverage pays for damages to your boat from natural disasters and accidents you caused.
  
  

Financing Boats and Insurance

• Boats that are financed are normally insured against any damages for the sake of the lender. In fact, most finance companies require insurance coverage for vessels before agreeing to the loan. Boat insurance that fully covers the vessel prevents the lender from incurring losses against the financial interest in the watercraft. The buyer is commonly released from carrying any boater's insurance that is not required by the state once the loan is paid off.
  
  

Marina Docking

• A boat docked at a marina is left open to several potential liabilities. The boat can drift and make contact with other boats if the mooring comes loose. The damages may be minor in such cases, but marina clients often sustain personal injuries from docked boats even when they are properly secured. Marinas are typically not willing to take responsibility for the liabilities of a client's boat. Most marinas will not allow uninsured boats to dock.