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Am I Required to Purchase Boat Insurance?

Happy Senior Couple Sitting on a Sail BoatThis is a common question from people who have just purchased their first boat. First of all, congratulations on your investment! You’re about to embark on a lot of fun times and family.

Now back to business: Do you need insurance? Well, “need” is a relative word, isn’t it? No, California law does not require you to purchase insurance on your boat. However, there are several reasons you probably still need to consider it.

For one thing, you have to consider not only the law, but the rules of your marina. You can purchase a boat and never carry insurance on it. But that’s obviously no fun! In order to actually dock or use your boat in a lot of locations, insurance will be required by the marina. This is to cover liability issues in the event of a collision or other type of accident. So this issue requires you to be concerned not only about state law, but about the regulations where you plan to dock your boat.

Aside from rules and valuable investment taken from you in an instant. Not to mention the cost of liability if someone is hurt on your boat or from a boating accident! You don’t want to end up in court fighting a huge lawsuit.

Finally, boat insurance premiums are actually much lower than you’re probably imagining. So if you’re reluctant to purchase insurance due to concerns over the cost, you’re probably worrying needlessly. We’ll be happy to discuss boat insurance with you, and help you select a policy that meets your needs.