How Much Insurance Should I Carry On My Sailboat?

In West Chester, PA, you are not legally required to carry insurance on your boat. This means that if you want to sail without any coverage at all, you’re allowed to do that. It’s not advisable, but it is permitted.

It’s not advisable, because a sailboat is a big investment. We’re not talking about a two hundred dollar fishing raft, but something that may have cost you twice or three times the value of your car. That’s an investment that you want to protect, so you’re going to want to get coverage. Experts generally recommend the following provisions:

  • $1,000,000 in liability coverage. You’ll typically be recommended to carry more than this if you drive a fast powered boat, but for a sailboat, this should be enough.
  • Collision and comprehensive to be based on the value of your boat.
  • Gap and replacement coverage should be considered, especially if you’re still paying your boat off.
  • Uninsured/underinsured coverage. You’ll want to discuss this with your insurer to settle on a good number, but a minimum of $10,000 is typically recommended. As we said, West Chester, PA boaters are not required to carry insurance, so you may wind up needing to tap this.

While you are legally allowed to sail to your heart’s content without insurance, it’s not advisable. There’s a lot that can happen out there on the open water, and you don’t want to be holding the bill when your sailboat suffers damages.

If you’re looking to get your boat covered, get in touch with Griffith Insurance LLP. Griffith Insurance LLP can help you to get the coverage you need so that you can cruise the waters with your mind at ease the next time you head out.