You can also add additional sailboat insurance or any other type of boat. Options may include: medical benefits, personal effects, uninsured boater liability, and towing and assistance. Most policies cover equipment permanently integrated into the boat, as well as items such as anchors, oars, engines, tools, seat cushions and life jackets. Be sure to discuss these options with your agent.

Boat insurance cost factors and boat insurance policy

Many factors are used to determine the cost of a policy, and they vary from insurer to insurer. Here are some things to consider:

• – cruising: where you sail,
• – boating safety education: if you have been formally trained or certified,
• – injury-free usage: applies to both boating and driving,
• – liability limits: the higher the limit, the higher the cost,
• – deductible: the higher the deductible, the lower the premium,

If you are boating in a hurricane zone, your insurer may expect you to submit a hurricane plan. If a storm is approaching, will you store it in a hurricane-resistant facility or tow it or sail it to a safer port. The answer may affect or even lower your rates, but be prepared to follow your plan because your coverage may depend on it.

This will depend on the type of policy, as there are different types of boat insurance, but typical add-ons to insurance (in addition to the basic ones listed above) include:

• – consequential damage: covers loss due to wear and tear rather than accident e.g. rot, mould, corrosion,
• – towing: towing your boat across a body of water to safety can cost up to several hundred dollars per hour,
• – specialty insurance: insuring something specific on your boat, such as expensive navigation equipment.

It is best to have what is called an “All Risk” policy, which will provide coverage for all types of losses except those that are specifically excluded from the policy. Typical exclusions may include wear and tear, gradual degradation, damage, dents, scratches, animal damage, manufacturer defects, construction defects, and ice and freezing.