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How much is boat insurance?

boat insurance cost

If you’re shopping for a new or used boat, you may be wondering what boat insurance costs. The answer to that question depends on a number of factors which vary by state and insurance company. Here are some common factors that may influence how much boat insurance costs.

Factors that go into what boat insurance costs

  1. Length. In general, boats are 26 feet and shorter; yachts are 27 feet and longer.  
  2. Value. As you’d expect, more valuable boats generally cost more to insure. Considering the value of your boat can help you get an idea of how much it will cost.
  3. Type. Bass boats, ski boats, sailboats, cabin cruisers, pontoon boats, deep-sea fishing boats, utility boats and speed boats have different insurance needs. 
  4. Age. Older boats typically cost less, but often require additional upkeep and maintenance.
  5. Speed/Horsepower. Faster boats generally carry more risk – and faster engines often are more expensive when it comes to boat insurance cost.
  6. Cruising area. Boating on oceans, lakes, bays, rivers or the Great Lakes all carry different risks. 
  7. Coverage options. You have lots of options when it comes to coverages, limits and deductibles, including coverage for your personal belongings, fishing equipment and boat accessories. The coverages you pick will impact how much your boat insurance policy costs.
  8. Boating and driving history. Have you had any accidents, violations or claims in the past 5 years?
  9. Boating safety courses. Formal training or certification can lower the cost of boat insurance. 

Boat insurance discounts

In addition to affordable rates, Nationwide offers a number of boat insurance discounts, such as a multi-boat discount, a multi-policy discount and a boater safety course discount. 

We also offer package discounts for weekenders, overnighters, light tackle anglers and deep-water pros. 

Getting a boat insurance quote

The best way to figure out how much boat insurance will cost is to get a quote. 

For a free boat insurance quote from Nationwide, call 1-877-669-6877 or visit our boat insurance page of our and enter your zip code to begin the process.   

Nationwide provides insurance for many types of watercraft, including bass boats, ski boats, sailboats, cabin cruisers and pontoon boats, as well as insurance for personal watercraft, such as Jet Skis, WaveRunners and Sea-Doos.

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