Boat Insurance in Missouri and the Midwest

Boat Insurance in Missouri & Surrounding States

While owning a boat may seem like a luxury to some, there are places in Missouri where you almost have to have a boat. Whether you use your boat for fishing, travel or recreation, boating is an important part of the lives of many Missourians. But part of owning a boat, including pontoon boats for leisure, fishing boats, or yachts for relaxation, is having full, comprehensive boat insurance. Washington, Missouri residents and other boat owners in Missouri know that taking a boat, jet ski, or other water vehicle out before making sure it is properly insured can be disastrous.

Boat Insurance in Missouri, Arkansas, Iowa & Kansas

Missouri provides year-round opportunities to enjoy the open water. Between bird watching on Big Lake, smooth sailing in Stockton State Park and camping at Lake Wappapello, we have endless hours of fun at our fingertips. Whether you’re taking the family out for a day on the lake, or getting away from it all with a few hours of rest and relaxation, no one can deny Missouri is one of the best places to live and boat. With so many beautiful places to explore throughout the state, it’s no surprise more and more Missouri residents are becoming boat owners.

Unfortunately, misfortune can ruin our fun in the sun. Many boating accidents occur each year. From 2015 to 2016, there was a 20 percent increase in statewide crashes. Most of these crashes occurred during Saturdays and Sundays between May and August. Of the 182 crashes in 2016, 117 out of the 222 boaters involved did not have prior boater education. Although yearly crash rates may rise or fall, one fact always floats to the surface: Being involved in a boating accident is never good.

A boating accident can be defined as a situation in which a person has disappeared, sustained an injury or has died, or a situation in which a vessel causes or sustains damage. Thankfully, there are plenty of simple ways to help prevent a boating accident.

• Never drink and boat.
• Always have safety equipment on the boat.
• Be aware of water and weather conditions.
• Obey all boating and navigational laws and rules.
• Be a responsible boater by maintaining a safe speed, taking an accredited boater safety course and being aware of your surroundings.

The safety of you, your passengers and your fellow boaters should always be your top priority. However, even if you take every safety precaution, a boating accident can still occur. If you’re ever involved in a boating accident, the best course of action is to take the following steps.

• Contact local authorities and emergency medical services if an injury has occurred.
• If possible, move the vessels to a safe location.
• Take photos or video of the damage or injuries if possible.
• Obtain contact information of all boat operators, passengers and witnesses involved.

Whether or not you’re at fault for a boating incident, you may wish you had one vital resource protecting you: boating insurance.

Contact David Pope Insurance

Boat Insurance & You

A boat is often the second-largest purchase an individual makes in their lifetime. Boat insurance is similar to car, motorcycle and other vehicle insurances: It’s a tool that can provide coverage in the event of an accident. Basic boat liability insurance can potentially save you time, money and hassle. It’s common for boat owners to have several questions about boating insurance, including:

• What does insurance cover on a boat?
• Do you need insurance on a boat and trailer?
• Does homeowners’ insurance cover boat accidents or sinking?
• Which boat insurance is right for my boat?

David Pope Insurance wants to provide Missouri boat owners with answers to all their insurance questions. Perhaps the best place to begin is with the first question many boaters ask.

Boat Insurance Requirements in Missouri & Surrounding States

The short answer to this question is no. Unlike car insurance, which is mandatory for all Missouri vehicle owners, our state does not legally require a boat owner to be insured. In fact, most U.S. states do not have laws that require boat owners to purchase insurance, with Arkansas and Utah being the exceptions.

Since boat insurance is not required, it may seem like an unnecessary expense. The cost of owning and maintaining your boat is already a significant expenditure without an additional monthly insurance payment. Aside from cost, some boaters may believe there’s no need for them to be insured.

Do You Really Need Boat Insurance?

Our insurance experts suggest the following advice:

• If you’re frequently on the water, you should consider getting boat insurance.
• If you only have a few weekends each year to enjoy time out on the lake, you should consider getting boat insurance.
• If you have parked your vessel in the driveway or safely secured it in storage for most of the year and you rarely get it wet, you should still consider obtaining boat insurance.

Here’s the deal: If you own a boat or are buying a boat in Missouri or the surrounding areas, you should consider purchasing boat insurance.

Do You Need Insurance on Your Boat and Trailer?

There are plenty of reasons you should purchase at least a minimal amount of coverage for your boat. If you’re financing or leasing a boat, your lender may require it. Marinas or other private docks may also ask you to show proof of insurance before they allow you to use their facilities. More importantly, boat insurance can protect your investment and offer you protection if you’re held liable for damages incurred during an incident. Accidents happen, despite the best intentions. Without the right insurance, you could be financially responsible for any damages or injuries resulting from accidents or neglect.

Are you legally required to have boat insurance in Missouri and the surrounding states? No.

Should you consider purchasing boat insurance? Absolutely.

Homeowners’ Insurance Is Not Enough

Why does separate boat insurance matter? Even if you have a form of watercraft insurance under your homeowners’ policy, it may not be enough to cover your incident. The amount of boat coverage will vary from policy to policy. While the policy may cover any damage that occurs to your boat while you have it parked on your property, it likely won’t cover any damages or liability on the road or in the water, including accidents and sunken vessels. Purchasing boat insurance separately will provide you with exactly the coverage you need.

Boat Insurance for Beginners

Now that you’re considering obtaining boat insurance in Missouri, it’s time to determine which is best for you. Choosing the right policy can be simple once you have an understanding of all policy options and how each one can provide the necessary coverage your boat requires. Whether you’re new to boat insurance, or if you’ve purchased a policy in the past, it’s essential for you to become acquainted with maritime insurance vocabulary.

Common Terms You Should Know

Insurance terminology can be difficult, and at times confusing, to understand. For example, the difference between “blue” and “brown” water, “actual” and “agreed” value and “date restrictions” and “lay-up period” are critical distinctions that can determine whether or not your boat will be covered during an incident.

Your boat insurance policy should be unique to your individual needs. However, many words and phrases are common in a variety of general and specialized policies. Here are a few we believe you should be familiar with.

• Agreed value: At the start of your policy, this amount is the agreed-upon value of your haul and hardware.
• Actual value: This term refers to the current market value of the boat at the time you submit a claim.
• Brown water: Your boat is sailing in “brown water” when it remains within or under five miles from the land.
• Blue water: Your boat is navigating in “blue water” any distance exceeding five miles from the land.
• Date restrictions: Specified dates during the year in which an insurance policy provides coverage for your boat.
• Emergency services: Emergency services are specified by your individual policy and may include the recovery or towing of a damaged vessel.
• Lay-up period: Predetermined dates in which you will not be using your boat and your insurance company will not provide coverage.
• Navigational limits: Predetermined geographical limits identifying where you will and will not be covered by your policy.
• Operators: Those who are covered by the policy while in operation of the vessel.

Regardless of coverage or policy provider, you should have a clear understanding of your specific coverage details before you commit to a policy. If you’d like step-by-step clarification of each policy option and thorough information of coverage limits, feel free to call David Pope Insurance and speak with one of our helpful employees.

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Insurance Factors

Before offering you a policy option, an insurance company will want to assess your vessel. Just as the year, model and accident history of a vehicle get taken into consideration when obtaining automobile insurance, an insurance company will determine an appropriate policy based on certain factors:

• Age, condition, length, speed and value of the boat
• Type of boat, including homemade boats and houseboats with no motor
• Boat ownership, where it will operate and if you use the boat as a primary residence

While insurance policies can cover boats of varied ages, conditions and values, these factors can significantly impact the price of a policy.

Types of Boat Insurance 

Though “boat insurance” is a general term for insured vessels, you should know there are a variety of insurance policies to meet the unique needs of specific boats, yachts and personal watercraft. Typical coverage many boat owners of all types generally choose includes damage to your boat’s components and damage to other boats, property or people. Most boat insurance companies in Iowa, Missouri & beyond aim to protect you from these incidents with four types of coverage.

• Property coverage: If your boat sustains damage on land or in the water, this coverage can help pay for repairs. Also, if someone steals your boat, it will cover replacement costs.
• Liability coverage: If you cause damage to another person’s boat, property or person, liability coverage may help pay for the resulting expenses.
• Medical payments coverage: If you or your passengers sustain injuries as the result of a boating accident, this coverage may pay for the medical expenses.
• Uninsured watercraft coverage: If you or your passengers sustain injuries from an uninsured boater, this coverage may cover any medical expenses.

These coverages may come bundled together, or be available à la carte. Let’s see what’s included in the standard coverage from Progressive, one of our providers.

Small accident forgiveness: Any claim costing Progressive less than $500 will not raise the policyholder’s premium.

Large accident forgiveness: If a policyholder has not filed a claim within the previous three of the four years of the policy, accidents will not count against the next policy renewal.

Fuel spill/wreckage removal: The cost of fuel spill cleanup and removing a boat from the water will be covered.

No repair depreciation: The policy will pay what it costs to repair or replace the damaged object to its pre-accident condition or better.

As you can see, though there are similarities, the differences in both standard policies offer valuable coverage. Ultimately, the best insurance policy for you is going to offer coverage that suits your boating habits. However, many boaters have specific needs and shouldn’t be quick to choose a policy without asking certain questions first.

Common Boat Insurance Questions Asked and Answered 

It’s no secret boat insurance is a necessity for your vessel. If nothing else, we recommend all Missouri boat owners have at least basic boat liability insurance. To ensure you’re choosing the coverage that’s best for your boat, be sure to ask your insurance provider questions specific to your lifestyle.

How can I save money on my boat insurance? 

The best part about purchasing boat insurance is that it covers you in the event of an accident. The second-best part? You can easily receive discounts on your policy. Many insurance providers will automatically lower your policy rates for a variety of reasons, including:

• Being a safe boater with limited accidents or claims on your record
• Being a homeowner, owning multiple boats or being the original owner of the vessel
• Paying your policy in full
• Taking a boater safety course that is approved by the State of Missouri
• Bundling your boat insurance with another existing policy

Is it better to get standalone boat insurance or bundle it with another policy? 

Bundling your boat insurance with another insurance policy has its perks. Many insurance providers can bundle separate coverages into a single policy. They’ll likely offer you a discount if you choose to add boat insurance to an existing insurance policy. But here’s the catch: You could be leaving money on the table. Though the discount may be a double-digit number, other providers may be able to offer you full coverage on your boat for a lower price. Instead of automatically bundling for the sake of convenience, shop around and consider all of your options. You may find a cheap boat insurance online quote your current provider doesn’t offer. Do I need insurance on my boat and trailer? It’s important to know your full coverage details on not only your boat insurance, but also on your automobile and homeowners’ policies. Why does this matter? Not all insurance policies automatically cover trailers. In fact, depending on where your trailer has an incident, it may or may not fall under an auto or homeowners’ insurance issue. We suggest you review all your insurance policies to determine where and when your trailer may be covered.

Should I get extended coverage to protect individual components like the electronics, propeller or motor? 

Some insurance companies may encourage you to take out additional coverage for miscellaneous needs like water towing or to cover the full replacement costs of equipment or electronics valued up to $10,000. Other companies may only recommend the standard coverage based on how often you use your boat. To determine which is right for you specifically, ask yourself: How can I use this? If you only use your boat occasionally, you may not need to select additional policy options beyond the standard accident, injury and liability coverage. However, if you take your boat out for weekly fishing trips, you may want to consider extended personal property coverage in case your fishing equipment gets damaged. Should I use the standard boating insurance for my yacht or houseboat? No. Just as you would select different insurance plans for a sedan and an RV, you should choose a policy that caters to your houseboat or yacht. Yacht insurance is more inclusive, often covering some of the boat insurance “extras” within the standard policy. It can offer customized coverage options like hurricane protection or coverage that extends farther than 75 miles off the North American coastline. Houseboat insurance also offers specific coverage options basic boat insurance will not. Most importantly, it covers personal items that get lost or damaged and any living expenses you incur while the houseboat is getting repaired. Additional factors will impact your premium, including how often you move the houseboat, if you rent or own it, where it is located and how often you use it. When requesting a boat insurance quote online we take into consideration the type of boat insurance your specific situation requires.How can I obtain cheap boat insurance in Missouri? 

If you’re buying a boat in Missouri and looking for affordable insurance options, let David Pope Insurance Services find the best solution to fit your needs. We’re the family-owned insurance provider residents throughout the Union, Mo., area have trusted for more than 20 years. We offer fast, free quotes on boat insurance 24 hours a day.
Should I shop around for boat insurance quotes? By all means yes! Since boat insurance isn’t always offered by companies, you should definitely shop around and get online boat insurance quotes to compare how the market compares. The factor of bundling your boat insurance should make your providers the most cost effective, but there is a wide variety of factors that determine the cost of boat insurance in Missouri.

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Missouri & Surrounding Area Boat Insurance

David Pope is your one-stop shop for all your insurance needs. Rather than wasting time going through the hassle of comparing boat insurance policies through different providers, let our helpful staff quickly find you the exact coverage you need. We’ll go through each coverage option step by step and identify which policies best align with your budget, boat and lifestyle. Our fast and friendly service can offer you a great policy quote at a great premium in as little as a few hours.

Purchasing a boat is no small expense. Protect your investment by purchasing a reliable boat insurance policy. From basic boat liability to extended coverage options for personal property, emergency assistance and roadside towing, David Pope Insurance can match you with a policy that caters to your lifestyle and budget. Call today or visit us online and request a boat insurance quote that’ll get you covered and keep you out on the water longer.