M8 Insurance answers 5 FAQs about boat insurance

Buying a boat should be fun. Shopping for boat insurance isn’t.

But, it’s necessary. Boat insurance can protect your investment. Although all the available options can be overwhelming, there’s no need to abandon ship just yet.

M8 Insurance can find the policy that’s right for you. Serving Salt Lake City, UT, these experienced agents answer five questions about boat insurance.

What is boat insurance?

Boat insurance protects you, guests, and the boat itself in the event of loss, damage, or an accident. These policies cover most motorized watercraft.

What does boat insurance include?

Every policy is unique. However, boat insurance plans typically feature liability protection for both bodily injury and property damage. Collision and comprehensive coverage are also common. 

Is boat insurance required?

By law, Utah mandates liability insurance for each motorboat and personal watercraft when operating on the state’s waterways. Minimum coverage includes $25,000 for bodily injury or death to any single person, $50,000 for all persons, and an additional $15,000 in property damage coverage. Or, a combined $65,000 per accident. Some boats with smaller motors may be exempt from these requirements.

Do I need boat insurance all the time?

Accidents happen year-round. While it’s tempting to lapse your policy during the off-season, the risk still exists. Even in storage, your boat is subject to fire, storms, theft, and vandalism. Canceling your coverage means you may be left paying these expenses out of pocket.

Isn’t my boat covered under my homeowner’s policy?

Despite offering some protection, homeowner policies are limited and often carry a cap on claims. Only boat insurance can extend full coverage.

Call an agent serving Salt Lake City, UT

M8 won’t leave you stranded. By recommending a personalized boat insurance policy, the agency will keep you afloat so you can enjoy the open waters.