Does Homeowners Insurance Provide Coverage for Boats?

homeowner's insurance, boat coverage

A homeowner’s insurance policy provides protection from hazards such as fires, storms, hail, vandalism, etc. Fortunately, if you are a boat owner and have concerns about your coverage, you can get limited insurance coverage through your homeowner’s policy for your boat. 


But what type of coverage is offered exactly?


Home Insurance and Boat Coverage

If your boat gets damaged or vandalized, your home insurance can provide reimbursement up to a certain amount. You can also get protection against damages from fire, wind, explosions, theft, vandalism, and falling objects. If your boat is stolen, you can get reimbursed for up to $1,000. 


Your home insurance may also cover hail damage to your boat. However, to receive coverage, there is a rule which states that the boat must be in an enclosed building to qualify. This means if the storage enclosure for your boat got damaged as a result of hail, leading to damages to your boat, you would be covered. It is important to note that you may still need to pay the deductible if you file a claim. 


Also, if you keep items on your boat and they get destroyed or stolen, your home insurance can help you recoup those losses after you file a claim. However, certain items that are exclusive to the boat may be hard to justify. For example, built-in equipment or other items used for fishing may be only covered by a boat insurance policy. 


This means if you’re looking for more coverage for your boat than what your homeowner’s insurance can provide, you will need to purchase a separate boat insurance plan. 


Homeowner’s Liability Insurance

The liability aspect of your homeowner’s insurance can help you cover certain boating accidents. For example, suppose you injure another party or damage property with your boat. In that case, homeowner’s liability insurance can help to cover associated expenses. Homeowner’s insurance comes with a certain amount of liability coverage that can be used to cover legal expenses or compensation paid to an affected party. 


Homeowner’s liability insurance also covers more than just boats; it covers other types of watercraft. However, there are certain limitations when it comes to watercraft. Homeowners liability insurance only covers boats with an inboard or inboard outdrive motor with less than 50 horsepower. It does not cover jet skis or airboats. To get better coverage for your boat or watercraft, it is advisable to get a boat or personal watercraft insurance policy. 


In fact, even with homeowner’s insurance, you may still need to invest in a dedicated boat insurance policy. For example, suppose you want a greater coverage limit for boat property damage. In that case, you can purchase a boat insurance policy to cover the full value of your boat.


Get Coverage Today!

For more information and assistance about coverage for your boat or other types of watercraft through your homeowner’s insurance or a boat insurance policy, contact us today at 512-994-0894.