The horsepower minimum for an outboard and inboard motor levels that watercraft policy is required is engines exceeding 50 horsepower.
If your outboard or inboard motor has more than 50 horsepower then you require a watercraft insurance policy.
Coverage requirement is at least $50,000 liability coverage.
Boat insurance can protect you from financial losses due to theft, vandalism, liability claims and accidents.
Agreed value insurance policies are recommended for older boats because they ensure a predetermined payout which can be crucial for boats which may have a higher sentimental value than market value.
Boat insurance is a good idea even if your state does not require it.
Without a good boat insurance policy, it can be expensive to deal with the damages to the boat in the event of an unexpected repair or accident.
The right boat insurance also protects you if someone gets injured while riding in or operating your boat.
The 2 states that require insurance for most motor boats are Utah and Arkansas.
For example in the state of Arkansas, all boat-owners must carry liability insurance on vessels that have engines of over 50 horsepower, and you are also required to register all boats with engines or sails that will use public waterways.
If you're hauling your boat on a trailer, you'll also need to register and present a title for the boat trailer.
If docking your boat at a Marina many marinas also require you to have proof of boat insurance.
Or if you're financing your boat then the lender will require you to have boat insurance.
And if your boat is over 27 foot long then you may require yacht insurance and older boats may also benefit from an agreed value policy that provides a predetermined payout.
In addition to liability boat insurance you can also get other coverage options for your boat which include.
Emergency service insurance that covers towing, fuel, labor, dead battery and more.
You can also get GAP insurance that covers the difference between your boats appraised value and your outstanding balance.
Depending on the size of your boats engine you may also be able to get liability boat insurance coverage under your home insurance policy.
Without a good boat insurance policy, it can be expensive to deal with the damages to the boat in the event of an unexpected repair or accident.
The right boat insurance also protects you if someone gets injured while riding in or operating your boat.