Se Habla Espanol

Indiana Boat/Watercraft insurance coverage

Request a Quote

Boat/Watercraft insurance coverage

Boat/Watercraft Insurance

Owning a boat in Indiana is just like owning any other vehicle and it will require insurance. Much like choosing insurance for your car, truck, van, or SUV there are many considerations in the type of insurance you choose for your boat. Associated Insurance Group of Indiana has experienced agents who will help you choose the appropriate coverage.

Basic Types of Boat Insurance Coverage

Physical Damage

This type of boat insurance protects your boat against damage caused by sinking, storms, theft, collision, and fire. Most policies will cover the boat motor, extra fuel tanks, batteries, and anchors against these risks. Your onboard safety equipment like floatation devices and fire extinguishers are also usually covered under basic physical damage. The trailer may not be covered, so be sure to discuss this with your Associated Insurance Group of Indiana agent.

Replacement Cost or Actual Cash Value

An important factor to discuss with an agent is whether the boat's replacement cost is insured or whether you will receive the cash value for the boat. A replacement policy will cover the cost of repairing the boat back to its original condition or replace the boat with the same or similar model. A cash value policy will pay you the actual cash value of the current market repair or replacement but takes into account how much the value of the boat has depreciated since you bought it.

Liability Coverage

New boat owners do not want to consider that they may cause bodily injury or property damage with their boat, but it is something to be included in a policy. Liability insurance helps protect you if your boat causes injury or damage through direct contact or even something like damage caused by creating large wakes. This type of insurance will help cover legal fees and the payment of settlement of any lawsuits that may ensue.

Our Partners

See more

  • Aegis
  • Dairyland
  • Encompass
  • Foremost
  • Founders
  • Grange
  • Hanover
  • JM Wilson
  • Kemper
  • Lighthouse
  • Main Street America
  • National General
  • State Auto
  • Progressive
  • Travelers
  • Trexis
  • Tower Hill
  • Universal Property