Ski boat and wake boat insurance
Ski boat insurance for a smaller recreational boat usually runs around $300 to $800 per year.
- Bowrider, ski or wake boat worth $15,000
- $220 to $750a year, inland to coastal states
- Bowrider, ski or wake boat worth $35,000
- $350 to $1,280a year, inland to coastal states
- Bowrider, ski or wake boat worth $60,000
- $600 to $1,280a year, inland to coastal states
Worked out with our method from Chubb and Progressive figures. An estimate, not a quote.
Higher-value or high-performance boats tend to run $500 to $1,500 or more a year, according to Chubb. What you actually pay comes down to your boat, its value, and the waters you take it on.
Typical yearly cost by boat type
Chubb publishes these average ranges. Treat them as a rough guide, not a firm price.
| Boat type | Typical yearly cost |
|---|---|
| Smaller pleasure craft | $300 to $800 |
| Boats worth more or built for performance | $500 to $1,500 or more |
The premium is simply what the policy costs you, most often billed yearly.
What do insurers ask before they quote?
Before quoting a price, State Farm wants to know:
- The year the boat was made
- The waters where you use it
- How long the boat is
- How much horsepower it has
- The hull configuration, meaning the shape and construction of the boat's underside
Having these details on hand will help you answer State Farm's questions when you request a quote.
Wake boat insurance
Major insurers treat wake boats as a normal boat type. State Farm includes wake boats and ski boats in the types it covers, and Chubb names ski and wake boats as well.
Liability is a central piece of cover on a boat that tows people. Liability pays out when another person is injured or their belongings are damaged and the responsibility falls on you. Progressive builds watersports liability into every watercraft policy without charging more for it. That protection applies to towed sports such as wakeboarding, waterskiing, tubing, kneeboarding, and wake surfing. SkiSafe confirms that water sports liability comes included automatically.
Does it matter what you tow?
What sets a policy apart is the activity happening behind the boat. The watersports liability Progressive includes does cover wakeboarding and wake surfing. It leaves out parasailing, kiteboarding, and any activity that pulls a person through the air, as Progressive explains.
Boards and ropes are handled separately. Massachusetts regulators note that boat policies tend to exclude personal belongings such as water ski gear unless covered by an endorsement. An endorsement is extra cover you attach to your policy.
Bowrider insurance
Chubb includes bowriders among the boats it insures. If you tow tubes or skiers with a bowrider, the watersports liability that Progressive and SkiSafe include is relevant for these boats as well.
Covering skis, boards, and tow ropes
Not every policy handles your gear the same way.
- State Farm lists skis, along with the ropes used to tow them, as examples of covered boat property.
- Progressive offers owners the option to add protection for ski and fishing gear.
- Massachusetts regulators say many policies leave ski gear out unless it is added on.
Ask each insurer how they handle your gear before you weigh up prices. A cheap policy may leave your skis or boards out.
Tournament and club skiing
People who compete or belong to a club may need more liability protection, as SkiSafe notes. For its sanctioned events, USA Water Ski & Wake Sports says each towboat must carry at least $500,000 in watercraft liability for each accident. Those events only allow boats under 58 feet.
Getting a discount for a safety course
A boating safety course can earn you credit with some insurers. Before applying that credit, State Farm asks to see the safety course certificate of everyone who drives the boat.
Common questions
What does boat insurance cost for a $10,000 boat?
A boat's $10,000 value alone isn't enough to estimate its premium. Insurers use details like your boat's length, horsepower and where you use it to set the price, so ask for a quote to see your own number.
What does insurance cost on a $40,000 boat?
A $40,000 value alone doesn't tell you which price range applies, so get a quote for your boat.
Which insurer is cheapest for boats?
There is no one insurer that is cheapest across the board. Getting quotes from several insurers is the only way to know for your own boat.
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