Boat/Watercraft Insurance

Most of us wouldn’t consider getting behind the wheel of a car without insurance. Likewise, the first thing most new homeowners do is get insurance on their home. We understand the need to protect ourselves and our property. The same rule should apply to those that have boats.

While the state of Minnesota does not require boaters to have insurance, responsible boat owners and operators should have boat insurance to protect themselves, others in their boat, and the ship itself.

Protect Your Investment:

Purchasing and owning a boat is a significant investment. As reported in Twin Cities Business, a report from the National Marine Manufacturers Association stated that in 2015, “11,000 new boats were sold in Minnesota" with an average price of $34,427. For most of us, that’s a big investment, one that should be protected.

When it comes to boat purchases, Minnesota is fourth in the country, only Florida, Texas, and Michigan sell more boats. Not surprising, the majority of boats sold in Minnesota are used for fishing.

There are many reasons to invest in boat insurance. Most policies will cover:

  • Accidents
  • Towing expenses
  • Weather damage
  • Personal property
  • Damaged boat replacement costs
  • Fuel spill liability
  • Damage to other boats/property
  • Medical coverage in case of an accident
  • Fishing equipment
  • Accident/wreck recovery

As with all insurance policies, there may be limitations and other/different coverages depending on the policy.

Discovering How to Manage Your Boat Insurance Needs

Before you buy your boat, you should seek out a reliable insurance provider that will access your needs and recommend the proper coverage. One of the best resources for Minnesota boaters is Up North Insurance Agency, Inc.

Up North will guide you through the process and explain the best policy options to protect your property. For more information, visit our office or contact one of our agents by phone or email.