Boat Insurance: What I've Learned
by Ken Levitt
I've learned a lot about boat insurance since I purchased my boat in November of 2005. I had also worked for a time (many years ago) as a consultant and self-taught actuary for a small insurance company. I hate to see knowledge go to waste, so I thought I would pass on what I know. As I continue to learn more, I will be updating this site accordingly.
Marine insurance is somewhat unique. Some aspects are the same or similar to auto or homeowner's insurance, other areas are not. In boat insurance there is no such thing as a standard policy. Every policy I have seen has advantages and disadvantages compared to the others. Your job is to find the one that is best for your particular situation.
Getting a marine policy from the same insurance company as your homeowner's policy may be a good idea, having your boat included in your homeowner's policy may not be. Your homeowner's insurance is not likely to cover marine specific losses like environmental damage, uninsured boater, or wreckage removal.
I am on a never ending search to accumulate more information on boat insurance. If you have anything I can use, or just something you think is interesting, please email me. To send me email, enter 'Insurance2', then an 'at' sign, followed by 'klevitt', followed by a '.'[DOT], followed by 'us'.
Thank you to everyone who has contributed to this article. You have done me and your fellow boaters a great service.