State Auto's Boat Insurance: What You Need To Know

State Auto does provide boat insurance. Boat insurance is a great way to protect yourself and your watercraft from accidents, theft, collision, or storm damage. It covers your boat whether it's in the water or on land. While most states don't require boat insurance, it's generally a good idea to have it. Boat insurance policies can vary widely in what they cover, depending on factors such as the type and age of the boat, where it will operate, and boat usage. State Auto's boat insurance provides coverage for damage to your boat, including the hull, sails, equipment, and more. It also includes fuel spill liability and medical coverage for you and your passengers.

State Farm Boat Insurance

In addition to the basic coverage, State Farm offers additional coverages that are automatically included in your base contract. These coverages include:

• Coverage for newly acquired watercraft for damage caused by an insured loss.
• Payment for reasonable costs incurred from specified emergency services to your boat, motor, or boat trailer.
• Coverage for reasonable repairs to protect covered property from further damage if caused by an insured loss.
• Reimbursement for the cost of raising, removal, or destruction of your boat's wreck if required by law and caused by an insured loss.

State Farm has been in the insurance business since 1922 and has over 19,000 agents nationwide, offering personalized service and prompt claim handling.

What does boat insurance cover?

Boat insurance policies vary in what they cover, depending on factors such as the type and age of the boat, where it will be used, and how often. However, there are some commonalities between policies.

Boat insurance typically covers damage to and loss of your boat caused by common risks, such as sinking, fire, storms, theft, and collision. The property covered usually includes the hull, motor(s), furnishings, fittings, machinery, and any equipment that is permanently attached to the boat. Some policies may also cover extra fuel tanks, batteries, and onboard safety equipment, such as flotation devices and fire extinguishers.

Boat liability insurance covers injury to others or damage to other boats, docks, or structures caused by your boat. This includes injury or damage caused by direct contact with your vessel or situations caused by your vessel, such as large wakes. Liability coverage may also protect you from lawsuits, including the payment of settlements and legal fees.

Some insurers offer additional coverage options, such as temporary repairs, emergency services, and wreck removal. You may also want to consider purchasing coverage for boat rental reimbursement, liability when using a rented boat, and uninsured and underinsured coverage.

It's important to note that boat insurance generally doesn't cover maintenance, general wear and tear, insect damage, mould, or damage caused by animals or marine life.

Is boat insurance mandatory?

Boat insurance is not mandatory in most states. However, it is a good idea to protect yourself, your boat, and others with a quality insurance policy. In the event of an accident, injury, or damage to your boat or another person's property, boat insurance can provide financial protection.

Currently, only Arkansas and Utah require boat insurance for most boats. Arkansas mandates liability insurance for all motorboats with engines exceeding 50 horsepower and all Personal Watercraft (PWC). The policy must provide a minimum of $50,000 in liability coverage, and operating such a boat without insurance is illegal. In Utah, all motorboats and PWCs must carry owner's or operator's liability insurance when operated in state waters, with some exemptions for boats with engines below 50 horsepower and airboats. Utah also sets minimum coverage limits of $25,000 for bodily injury per person, $50,000 for total bodily injury, and $15,000 for property damage.

Even in states without boat insurance laws, other factors may effectively require insurance. Many marinas, for example, will ask for proof of insurance before allowing boats to dock at their facility. Similarly, banks that finance boat purchases often require insurance, especially if the boat serves as loan collateral. Lenders may even force-place a marine insurance policy on a boat if proof of insurance is not provided.

Boat insurance policies can vary in their coverage. Some common types of boat insurance include liability insurance, uninsured boater coverage, and collision/comprehensive coverage. Liability insurance is the minimum standard in most states and covers bodily injury and property damage. Uninsured boater coverage protects you if an uninsured boater is at fault for an accident or damage. Collision and comprehensive coverage depend on the boat's value and cover events like vandalism, fires, theft, and weather-related damage.

When considering boat insurance, it is essential to research the requirements of your specific state and the options available to ensure you are adequately protected.

How much does boat insurance cost?

The cost of boat insurance varies depending on several factors, including the type of boat, its age and value, the location and purpose of usage, and the coverage required.

The average cost of boat insurance is between $200 and $500 per year, but rates can vary widely. For a large, powerful or expensive boat, insurance can cost around 1-5% of the boat's value. For example, insuring a $100,000 yacht may cost around $2,500 per year.

Boat insurance rates are generally more affordable in states with no coastline, as coastal states tend to have bigger and more expensive boats. The length of the boating season also impacts the cost, with northern states having shorter seasons and lower policy costs than southern states.

The type of watercraft is another factor, with fishing boats, pontoon boats, sailboats, and personal watercraft like jet skis all having unique features that can affect the cost. Boats with stronger engines, like powerboats, often have higher rates.

The age of the boat is also a consideration, with newer boats typically being more expensive to insure than older boats. Additionally, the boater's level of experience can impact the rate, with more experienced boaters potentially receiving lower insurance rates.

Safety measures, such as completing a boating safety course, may also help lower the insurance rate.

It is worth noting that only two states, Arkansas and Utah, require boat insurance for most boats. However, marinas and lenders may have their own requirements for insurance.

When considering the cost of boat insurance, it is important to weigh the potential risks and expenses associated with boating accidents, property damage, and personal injuries.

What types of boats are insured?

State Farm offers boat insurance for a wide variety of watercraft, including sailboats, fishing boats, kayaks, canoes, and even jet skis. The type of boat insured can vary depending on the insurance provider and the specific policy.

The type and age of the boat, as well as where it will be operated and how often, are important factors that determine the availability and scope of insurance coverage. For example, some policies may cover boats during a specified boating season, while others may offer more flexible options.

State Farm's boat insurance provides coverage for runabout/sport boats. It also includes liability insurance, which protects against injury to others or damage to other boats, docks, or structures caused by the insured vessel. This liability coverage can be crucial in protecting against potential lawsuits and associated costs.

In addition to the boat itself, State Farm's insurance typically covers the boat hull, boat motor(s), described boat equipment, and the boat trailer if requested. It's important to note that the specific items covered may vary, so it's always a good idea to consult with an agent to understand the details of your policy.

Frequently asked questions