Do I really need to insure my watercraft?

Jul 18, 2022

Although some watercraft can be covered under your Homeowners Insurance, there are limitations on the size and value of the boats that may be insured on such a policy.

While this limited coverage is ideal for small, non-motorized boats such as canoes or kayaks, it’s usually not enough for large or motorized vessels.

Here’s why purchasing insurance for your watercraft is generally recommended:

  • Physical Damage: This cover insures your watercraft in the event of a collision with a submerged object or another vessel.
  • Liability: Protects you in case of bodily injury or damage to the property of others.
  • Personal Property: Insurance that protects personal property on the watercraft, including such items as your clothing, stereo system, cameras, fishing equipment and other personal items.
  • Uninsured/Underinsured coverage: This protects you when a person on board your watercraft sustains injuries caused by an operator of another vessel who either doesn’t have liability insurance or has too low an insurance limit to cover it.
  • Towing and Assistance: This insurance provides for the costs associated with transporting your watercraft to a repair facility if your boat has broken down and you’re left stranded. Emergency services such as gas delivery and roadside assistance are also policy options.

Additional, specialized cover is also available through Varney with a range of insurance carriers:

  • Total Loss Replacement: This cover replaces your watercraft – if it’s deemed a total loss by the insurance company – with a brand-new watercraft of a similar make and quality.
  • Disappearing Deductibles: This enables you to reduce your deductible by remaining claim free.
  • Wreckage Removal: This insurance pays for the raising, removal or destruction of the wreckage.
  • Fuel Spill Liability: This covers you against unintentional oil or fuel spills that result in bodily injury or property damage.

Thinking about taking the boat out? Be sure to protect your family, guests, and your investment with a watercraft insurance policy.

Talk to a member of the Varney team about your watercraft and experience that extra something you’ve been searching for when it comes to great value and personalized service.


To find out more about the various insurance and risk solutions we have to help you protect what’s important to you, contact us today.