Obviously, boat insurance costs will vary greatly depending on the cost of your boat, your driving history and demographics, etc. however, if you would like a rough estimate of costs, I have that information for you.
examples of pontoon boat insurance costs
(quotes were for my 22′ pontoon which cost $32,000 new and is a year old)
Reading: How much is pontoon boat insurance
basic insurance vs comprehensive insurance
- Basic insurance: liability only (does not cover my boat, only damages I do to others) pays $50,000 per person and $25,000 for property damage. My quoted cost was $100 per year ($8.17 per month).
- Comprehensive insurance: $100,000 per person and $50,000 for property damage. includes no-fault medical payments up to $5,000 and uninsured boater with a $500 deductible. My quoted cost was $334 ($29.13 per month).
- Many states require boaters to carry personal watercraft insurance. my state, idaho, doesn’t. probably should. Some states require only a minimum amount of liability insurance that can often be obtained for as little as $8 per month. that’s not ideal for more expensive boats, but can work well for less expensive boats.
- boats are easy to steal! locks on trailers are incredibly easy to break (even the good ones). all a criminal has to do is hitch their boat (already tied up) to his hitch, pick the lock, and drive off into the sunset. it is highly unlikely that you will ever see the ship again.
- Injuries occur in the water, and some are fatal. What would happen to his financial future if someone was seriously injured while on his ship, or god forbid, died? don’t make it a double tragedy by not having good insurance. be responsible. my brother broke five ribs while he was riding a tube that was driven too fast. How would you like to pay that medical bill for a disgruntled passenger on his ship?
Most of the insurance companies I checked didn’t offer personal watercraft insurance, but I was able to get a quick (and quite reasonably priced) quote from allstate on their boating insurance page.
what insurance is recommended for pontoon boats?
Personally, I think $23 – $35 per month is a pretty low price to pay to get good coverage for most pontoon boats under $40,000. if your boat is worth more than that, then you can expect to pay a bit more.
See also: How to read your life insurance policy | Insure.com
The fact is that many things can go wrong when browsing. Whether it’s a broken propeller, a cracked anchor, or a damaged hull, you don’t want a bad day on the water to lose your home and cause a lifetime of financial strain. If your boat costs so much that you can’t replace it, you may want to choose comprehensive insurance.
Many boaters may be happy with basic insurance to make sure an injury on their boat is covered. $100 per year is a pretty reasonable cost in my opinion.
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See also: How Much is An Emergency Vet Visit? | Money
3 reasons why every boater needs insurance
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