Watercraft Insurance FAQs


Much like auto insurance, boat insurance covers your boat or yacht for liability and physical damage. In addition, you can also purchase coverage for medical payments, personal property (including fishing equipment), towing, trailer, and uninsured boater coverage. Losses on boat policies are typically paid based on an agreed value or actual cash value.

How much liability coverage should I buy?

The average boat policy contains $300,000 of liability coverage, however coverage ranges from $100,000 to $1,000,000. If you have significant assets then more coverage may be desirable. It is recommended that you purchase an umbrella liability policy to better shield you from an injured party.

Is it required to have insurance on a boat?

The state of Connecticut does not require that you carry boat insurance, however some states do and you should expect most marinas to require you carry liability coverage as well.

How much does it cost to insure a Jet Ski?

The average annual cost of a Jet Ski or similar personal watercraft coverage can cost anywhere from $200 to $600 per year. The cost will vary based on factors such as: Year, make and model of the jet ski, the horsepower, engine type and maximum speed.

Personal watercraft due to their speed and maneuverability have a higher likelihood of claim.

How much is boat insurance a year?

The cost of boat insurance will vary by carrier, coverage, hull coverage limit, and deductible. Generally, the cost is for a $20,000 boat on average is approximately $325 per year.

What is the difference between a boat, a yacht, and a personal watercraft?

The size of your watercraft is what generally differentiates the three. For instance:

  • Watercraft that are 16 feet in length and less than 26 foot in length are boats.
  • Watercraft that are 26 feet in length or longer are considered yachts.
  • Personal Watercraft (PWC) are a type of motorized watercraft usually sold under a brand names such as Wave Runner or Jet Ski.



For more information or a quote for Watercraft Insurance,
please contact our office at 203-655-6974.