By Tahir Abbas, Editor · Last updated 1 November 2026
Boat and marine insurance covers boats, yachts and other watercraft, and the liabilities that come with life on the water. Boats face risks that land vehicles do not — sinking, grounding, storm damage and salvage — and a damaged boat can also cause pollution or injure swimmers and other boaters.
This guide explains what boat and marine insurance typically covers, what it leaves out, who it suits, and how to compare policies before you buy.
What boat and marine insurance typically covers
- Physical damage to the hull, machinery and equipment
- Liability for injury and property damage caused to others
- Theft of the boat, its engine or its equipment
- Storm, sinking, grounding and collision damage
- Salvage, wreck removal and pollution liability, where included
What boat and marine insurance typically does not cover
- Wear and tear, corrosion and gradual deterioration
- Damage from lack of maintenance or unseaworthiness
- Use outside the policy’s cruising area or season
- Racing, unless specifically covered
- Personal belongings above the policy’s limit
Who boat and marine insurance is for
Boat and yacht owners, whether for leisure, fishing or liveaboard use. Marinas and lenders often require cover before a boat can be moored or financed, and the liability risk alone makes it essential.
How to choose and compare boat and marine insurance
- Check the cruising area and season match where and when you sail
- Compare agreed value versus market value for the boat
- Look at salvage and pollution liability limits
- Check whether tenders, trailers and equipment are included
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Sources and Disclosure
This guide is general information, not financial advice. Plan features described here are general and vary by insurer and state; always read the sample policy before you buy. For the rules governing insurance in your state, see the consumer resources of the National Association of Insurance Commissioners (NAIC). Disclosure: Being Insurance is an independent comparison site. We may earn a commission when you buy through links on this page. That never changes which companies we list or the order we present them in.