What is the difference between agreed value and actual cash value for boat insurance?

Agreed value pays the full insured amount with no depreciation if your boat is totaled or stolen.

What does a standard boat insurance policy cover?

A watercraft policy covers the hull and motor for collision, fire, theft, and weather damage.

Does Georgia require liability insurance on a boat?

No. Georgia's boating regulations do not include a liability insurance mandate for recreational boats, though lenders financing a boat and some marinas commonly require it on their own.

Does boat insurance cover my boat while stored or on a trailer?

Yes. Most watercraft policies cover the boat while stored on your property, in a marina facility, or on a trailer.

What does boat insurance cover in Georgia?

A standard watercraft policy covers the hull and motor for collision, fire, theft, and weather.

Boat FAQs

Does homeowners insurance cover my boat?

All FAQs

Quick answer: Most homeowners policies provide very limited coverage for small boats, typically up to $1,500 in property damage and no on-water liability.

Standard homeowners insurance covers boats only in a narrow, limited way (see what boat insurance covers in Georgia). Most policies include a small sublimit for watercraft, typically $1,000 to $1,500 for the boat and motor combined. That coverage applies only to small, low-powered watercraft: canoes, kayaks, and modest fishing boats under a certain length and horsepower threshold. Anything larger or faster is frequently excluded from the policy outright.

What does the watercraft sublimit on a homeowners policy actually cover?

The dollar cap alone tells most of the story. A bass boat, a pontoon, a center-console, or a bowrider can cost $20,000 to $80,000 or more. A $1,500 sublimit covers a fraction of that exposure. That sublimit applies to the physical hull and motor only. It does not stretch to trailers, electronics, fishing gear, or personal property stored on board. Those items carry their own exclusions or separate sub-limits that vary by policy.

For example, a 19-foot center-console boat with a trolling motor, fish finder, and trailer represents $35,000 to $50,000 in total value. A $1,500 homeowners watercraft sublimit would leave roughly $33,000 to $48,500 in unprotected exposure.

Does homeowners liability coverage follow you onto the water?

No. Homeowners liability protects you for incidents that happen on your property. Once you are on the water, that protection generally does not follow. If your boat strikes another vessel, damages a dock, or an occupant is injured during a trip, a homeowners policy typically provides no liability coverage at all. Watercraft liability, including medical payments for injured guests and legal defense costs, is not part of a standard homeowners form (see specialty personal insurance through Olive Cover).

What specific situations leave boat owners with no homeowners coverage?

A few specific situations where a homeowners policy commonly pays nothing for a boat:

A powerboat over 25 mph or above a stated horsepower limit, regardless of size
Theft of the boat from a marina or storage facility
Damage that occurs while the boat is being towed on a trailer
Any on-water liability claim, collision with another vessel, dock damage, or bodily injury to a passenger
Boat motors above a horsepower threshold set in the homeowners policy declarations

What does a standalone boat or watercraft insurance policy cover?

Boat owners who want real coverage, for the hull, the motor, the trailer, equipment on board, and liability on the water, typically need a standalone boat or watercraft insurance policy (see scheduled articles and high-value items in Georgia). These policies are written specifically for watercraft and can be structured to match the actual value of the vessel and the way it is used: freshwater fishing, coastal cruising, or high-speed recreation.

For example, a standalone watercraft policy for a 22-foot pontoon boat used on Lake Lanier would cover hull damage from a collision, theft from a storage facility, liability if a passenger is injured, and damage to a dock you strike, none of which a standard homeowners policy addresses.

How do you get the right watercraft coverage?

What makes sense for your specific boat and how you use it depends on factors a licensed advisor can work through with you. A coverage review is the right place to close any gaps and make sure your watercraft is not left unprotected.