houseboat insurance

Insurance for Boats and Houseboats Made Simple

Not having insurance on your houseboat or yacht poses a risk. If you live in an area that is subject to hurricanes, you will certainly require boat insurance. It reduces the financial costs of repair, quickly resolving common issues faced by boats. Inland marine insurance provides ideal coverage for boats with multiple owners. Especially if the boat is going to travel across land and shared among owners. Inland marine insurance is quite comprehensive, even covering computers and photography equipment.

Boat insurance differs from car insurance in many ways:

    • Deductibles that diminish
    • Pollution liability
    • Towing for emergencies

Policy type differs according to the watercraft:

Classify marine insurance coverage by boat type; sailboat, yacht or houseboat. Boat insurance applies to a variety of personal watercraft and boats that are 32 feet or less in length.

What comprehensive boat insurance covers:

Actual cash value boat insurance pays up to the value of the boat at the time of damage. Wear and tear, depreciation, and damage factor into actual cash value. Alternatively, agreed value coverage lets the owners receive an agreed upon amount should anything happen to the boat and you need to file a claim. Agreed value lets you know exactly what you will receive upon claim approval.

Crash damage protection helps with the coverage of damages you incur while out on the water. If you happen to get stuck and need emergency towing because you’ve run out of gas or you need a part delivered, houseboat insurance covers you. If your engine block has frozen and cracked because the boat was not properly prepared for the winter, your policy will cover the damages. Coverage can also include your fishing equipment and skis.

How to mitigate insurance costs:

Mitigating the cost of watercraft insurance among owners is simple. Create a cost-sharing agreement on the deductibles and premiums so that all owners feel comfortable. It’s best to equally divide insurance payments for the houseboat among owners. For example, four owners would pay 25% each and two owners would pay 50% each. List each owner on the policy as a partner.


Contact Evolution Insurance Brokers to get paired up with a customized insurance policy that suits your needs.

Rick J. Lindsey
Rick Lindsey

President, CEO and Chairman