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What to Consider Before Buying Boat Insurance

Boating can be relaxing and exciting – but it can also be dangerous. Thousands of boating accidents happen in the United States every year, resulting in deaths, injuries, and expensive damage. Boat insurance in Newark, DE, can provide important coverage to keep your finances safe. However, you should consider these factors before signing up for a policy.


State law does not require you to have insurance coverage for your boat. For some boat owners, the protection provided under their homeowner’s insurance policy is sufficient for their peace of mind. However, if you have a newer model or an expensive vessel, it’s a good idea to get a separate policy to ensure you’re properly covered. Likewise, if you keep your boat in a marina, the marina may require you to get a policy.


Since boats depreciate in value quickly, the cost of boat insurance may outweigh the benefits if you have an older vessel. However, you’ll want to protect your purchase if you have a new watercraft in case something unfortunate occurs. Expect to pay around 1% to 2% of your boat’s market value as a premium.

Policy Type

Personal watercraft coverage comes in many varieties, including hull insurance, third party liability, all-risk policies, and so on. Talk to an agent to determine which policy makes the most sense for your needs.