First of all, marine insurance is the oldest form of insurance dating back hundreds of years when merchants first took to the seas. A marine insurance policy is tailored to the perils of being on the water. A marine policy is usually issued by a company that specializes in marine insurance. It will cover liability and hull. It is the best way to insure most boats and other watercraft, even smaller ones.

Watercraft can also be covered under a homeowners’ policy for both liability and hull. A homeowners policy can include coverage up to $2,000 for small watercraft. You can even add a boat to your home policy as a rider. However, for anything more than $5,000 in value, insuring under a home policy is more expensive than a marine policy and the coverage is not as good. You can buy a marine policy for just about anything that floats.

Aviva Insurance, one of the companies we work with, talks about some valuable coverage you can purchase to protect your watercraft.