Home > Boat and Personal WaterCraft Insurance This insurance protects against many unique risks which are associated with the ownership, operation, and maintenence of a boat or personal watercraft. Similar to auto insurance, this type covers legal financial liability of a boat owner, as well as property damage and legal defense costs. A person should be insured for the total amount of their boat, trailer, and motor. The average cost of a boating accident is $4500. Boats or PWCs may include any of the following: motorboat, powerboat, fishing boat, pontoon boat, houseboat, ski boat, sailboat, yacht, jetski, water bike, runabout, or bowrider. Policy Structure Property Damage A policy holder 's boat, trailer, motor, and equipment are included among the protected property. Situations such as collision, capsizing, sinking, storms, theft, stranding, striking a submerged object, fire, explosions, and vandalism are frequently covered. Watercraft Liability Covers accidents resulting in property damage to others, bodily injury, and legal defense. Medical Payments Coverage up to the policy limit is normally available, covering all occupants of the boat which is involved in the accident. Vessel Safety Checks And Boating Safety Courses These safety checks are often suggested by insurance companies, and they may result in a discount for boat owners who are able to comply. Courtesy Marine Examinations (CMEs) can be performed by the U.S. Coast Guard Auxiliary, or the U.S. Power Squadron. Often available are courses which have been approved by the NASBLA - National Association of State Boating Law Administrators. All of these programs should also function to alert boat owners of State and Federal law compliance and potential violations. Discounts Protective Device Discounts - Sometimes a discount can be applied for items such as a: bilge pump, depth finder, VHF ship-to-shore radio, radar system, burglar alarm, automatic fire extinguisher system, or other safety device. Multi-Policy Discount - A discount may apply if an insured person establishes multiple insurance policies with the same company. Diesel Engine - The use of a diesel engine with a boat may enable a discount.