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Get the Right Coverage for Your New Boat: A Guide to Boat Insurance in 2023

Story by Staff Writer, March 19, 2023 4:26 PM EST - Buffalo, NY

Boat ownership is an exciting adventure, but it also comes with responsibilities. One of the most important is securing the appropriate insurance coverage. With the start of the new boating season in 2023, many new boat shoppers are looking for quotes for the first time. In this blog post, we will discuss the importance of boat insurance, what it covers, and what to consider when getting a quote for the first time. Whether you're buying your first boat or upgrading to a larger vessel, make sure you're protected with the right coverage.

yacht on ocean

Why do I need boat insurance?

As a new boat owner, protecting your investment should be a top priority. Whether you're using your boat for recreational purposes or for business, accidents and unexpected events can occur on the water. Boat insurance provides you with peace of mind and financial protection in the event of an accident, theft, damage, or any other covered peril.

Boat insurance covers a range of incidents, including collision, capsizing, theft, fire, and more. It can also help cover the cost of repairs or replacement of your boat and any personal property on board. In addition, boat insurance can provide liability coverage in case you cause injury or damage to another boat, person, or property while operating your boat. This coverage can help protect your personal assets and financial stability in the event of a lawsuit.

The purpose of boat insurance is to protect your investment and yourself from financial loss in the event of an unexpected event on the water.

What to Consider When Getting a Boat Insurance Quote

When it comes to purchasing boat insurance, it is important to understand what factors influence the cost of your policy. By taking the time to consider these factors, you can get the best coverage for your boat at a price that fits your budget. Here are some key factors to consider when getting a boat insurance quote:

  • Type of boat The type of boat you own, such as a motorboat, sailboat, or personal watercraft, will impact the cost of your insurance. Larger, more expensive boats generally require more coverage and, therefore, cost more to insure.

  • Age of boat The age of your boat can also affect the cost of your insurance. Newer boats are typically more expensive to insure than older boats, as they are more valuable and therefore require more coverage.

  • Location Where you keep your boat can impact the cost of your insurance. If you live in an area prone to severe weather or theft, your insurance may be more expensive.

  • Usage How you use your boat can also impact the cost of your insurance. If you use your boat for commercial purposes, such as chartering, you may need more coverage and may have to pay a higher premium.

  • Safety features The presence of safety features on your boat, such as life jackets and fire extinguishers, can lower the cost of your insurance.

By taking these factors into consideration, you can get a better idea of what to expect when you get a quote for boat insurance. And of course, by shopping around and comparing quotes from different insurance providers, you can find the best coverage for your needs and budget.


Tips for New Boat Shoppers

If you're in the market for a new boat this year, you're in luck! With new advancements in boating technology and a growing interest in water-based recreation, 2023 is shaping up to be an exciting year for boat shoppers. However, as you make your way through the buying process, it's important to keep boat insurance in mind. Here are a few tips for new boat shoppers in 2023 to help you make the best choice for your needs:

1️⃣Determine your coverage needs

Consider the type of boat you're buying, how you plan to use it, and what types of risks you're willing to take on. This will help you determine what level of insurance coverage you need.

2️⃣Shop around for quotes

Don't settle for the first quote you receive. Shop around and compare quotes from different insurance providers to ensure you're getting the best deal.

3️⃣Read the fine print

Before you sign on the dotted line, make sure you understand the terms and conditions of your insurance policy. Pay close attention to any exclusions or limitations that may impact your coverage.

4️⃣Consider optional coverage

Some boat insurance policies offer additional coverage options, such as personal property coverage, liability coverage, and medical payments coverage. Consider these options carefully to determine if they're right for you.

By following these tips, you'll be better equipped to make an informed decision about boat insurance as a new boat shopper in 2023.


Boat insurance is a crucial aspect of boat ownership that protects you from unexpected events, accidents, and financial losses. When getting a boat insurance quote, be sure to consider your coverage needs, the type of boat you have, and your budget. As a new boat shopper in 2023, be sure to take advantage of the latest technology and resources to find the best coverage options that meet your specific needs. At Encompass Agency, we're here to help you make informed decisions about your boat insurance and ensure that you and your investment are protected. Contact us today to learn more about our boat insurance options.

Looking to insure your boat?

Connect with an Encompass agent to start your quote.

Available 9-4 EST Monday through Friday Serving the East Coast of the United States


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