Delaware Boat Insurance
Get a full analysis of Delaware boat insurance costs, coverage, and companies.
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.
Find the Best Boat Insurance Options in Delaware
Boating is a fun and relaxing pastime for residents of Delaware, but it is not without its risks.
Whether you prefer a quiet weekend in your fishing boat on the Broadkill River, towing water skiers behind your motorboat on Silver Lake, or cruising the Atlantic Ocean in your yacht, you may want to compare boat insurance quotes before you take your craft out on the water.
A local independent insurance agent can help you learn more about Delaware boat insurance and find you a policy that meets your needs and budget.
Best Boat Insurance Companies in Delaware
How can you make the best choice for boat insurance in Delaware?
We selected the following carriers as some of the best boat insurance companies in Delaware. They are highly rated for their combination of valuable coverage offerings and competitive pricing.
- Progressive: Progressive is based in Ohio and offers personal insurance, including boat insurance. Delaware residents can look to Progressive for most of their personal insurance needs.
- Travelers: Travelers offers highly-rated boat insurance in Delaware. The company provides a variety of other personal insurance options, including auto, home, and renters insurance.
- Foremost Insurance Company: Foremost was founded in 1952 and offers a wide range of coverage in 50 states, including boat insurance.
An independent insurance agent in your area can help you learn more about these and other Delaware boat insurance companies. A local agent can help you get competitive quotes for the coverage that fits your needs.
Delaware Boat Insurance Requirements
Boat insurance is not required by law in Delaware. There are a few cases where you might be required to purchase boat insurance by some other entity:
- If you finance your boat purchase, your lender is likely to require you to carry insurance for the duration of your loan. Once you own the boat outright, however, insurance coverage is optional.
- If you are using your boat as collateral for a loan, the bank may require you to insure it.
- You may be required to carry insurance if you dock your boat or yacht in certain harbors or marinas.
Many boat owners believe that their homeowners insurance offers liability coverage for losses caused by the negligent operation of their boat. While there may be some coverage in limited situations, it’s not likely to be enough to really help you if you’re at fault for a serious accident.
Homeowners insurance does provide some physical damage coverage for certain small boats (e.g., rafts, canoes, or kayaks) while they’re on your property (not in the water). This coverage usually has a small limit, such as $1000.
You’ll need to purchase boat insurance in Delaware if you want physical damage coverage for a larger motorized boat.
Your independent insurance agent can help you learn more about the requirements for boat insurance in Delaware and find a policy that fits your needs.
What Boat Insurance Covers in Delaware
Delaware boat insurance works a lot like car insurance. It covers bodily injury and property damage that you cause while you are operating your boat, as well as physical damage to your boat. You can tailor your coverage depending on the type of boat you have, how and where you use it, and the types of items you keep on board.
A basic Delaware boat insurance policy provides you with liability coverage. This protects your finances if you are responsible for a boating accident that results in property damage or injuries to a third party. This coverage includes any related court costs and legal fees you may accrue in your defense.
Depending on which insurance company you select, your basic boat insurance policy may automatically include other coverage options. Or, you may have to add on these optional coverages:
- Collision coverage: Covers repairs to or replacement of your own boat, motor, trolling motor, or any permanent boating equipment due to damage caused by a collision with another boat or an object while on the water.
- Comprehensive coverage: This covers repairs to or replacement of your own boat, motor, trolling motor, or permanent boating equipment due to damage or loss caused by anything other than a collision, such as theft, vandalism, fire, or a storm.
Some additional coverage options include the following:
- Personal property coverage for equipment such as tools, life preservers, anchors, and oars
- Coverage for fishing equipment like rods, lures, nets, and tackle
- On-water towing and labor coverage for a disabled vessel
- Medical payments coverage for hospital and funeral expenses for you or your passengers
- Uninsured/underinsured boaters coverage for an accident with another boater who has insufficient or no boat insurance
Your local independent insurance agent in Delaware can help you determine which coverage types may be beneficial for your unique needs.
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Average Cost of Boat Insurance in Delaware
The cost of a boat insurance policy in Delaware can vary significantly from one person to the next. The quotes you get will depend on a number of factors including, but not limited to, the following:
- The type, size, and age of the boat: A smaller, less expensive, or less powerful boat will cost less to insure than a large, expensive one. A bass boat, for example, will cost less to insure than a cabin cruiser or yacht. Likewise, a powerful speedboat will cost more to insure than a less powerful motorboat.
- How frequently and where you use your boat: Most Delaware residents only use their boats for a few months out of the year. This can reduce costs significantly. In addition, whether you will be using your boat on inland waters or the open sea will affect the cost of boat insurance.
- The amount of liability coverage you purchase: Your liability expenses can be very high if you are responsible for serious injuries to another. If your boat insurance policy limits seem too low, you may want to consider supplementing them with an umbrella insurance policy.
- The amount of your deductible: Higher deductibles result in lower premiums. You should be sure that your deductible amounts are low enough so that you can reasonably handle them.
- Your driving record: Good drivers are statistically less likely to be responsible for boating collisions, so they will pay lower boat insurance premiums.
- Your credit score: While it might not seem to be closely related, statistically speaking, if your credit score is low, the chances that you'll file a boat insurance claim are higher than that of a person with a high credit score.
You may be eligible for certain discounts on your Delaware boat insurance policy. Some insurers offer a layup discount, as well as a discount for successfully completing a boating safety course. What’s more, you will likely be eligible for a discount if you bundle your Delaware boat insurance policy with your home and auto insurance.
How to Find the Best Boat Insurance Quote in Delaware
An independent insurance agent can help you find the best Delaware boat insurance for your needs. A local agent can get quotes from multiple insurance companies to make sure you get the best coverage at the right price. Working with a local agent is the best way to get knowledgeable, superior service from someone who understands the needs of boat owners in your community.
Find an independent insurance agent in your area now.
Delaware Boat Insurance FAQs
Most boat owners in Delaware need boat insurance. It simply makes sense if you want to protect yourself from the costs of boat-related accidents and if you want to cover your investment in your boat.
If you’re at fault for a boat accident, you’ll be responsible for paying the medical bills for injured parties and for paying to repair any damage that you do to other people’s property. Boat insurance provides liability coverage for these situations.
What’s more, boat insurance in Delaware can cover damage to your own boat if it’s damaged in a collision, or if it’s vandalized, stolen, damaged by a storm, and more.
No, boat insurance is not required by law in Delaware. There are a few cases where you might be required to purchase boat insurance by some other entity:
- If you finance your boat purchase, your lender is likely to require you to carry insurance for the duration of your loan. Once you own the boat outright, however, insurance coverage is optional.
- If you are using your boat as collateral for a loan, the bank may require you to insure it.
- You may be required to carry insurance if you dock your boat or yacht in certain harbors or marinas.
Boat insurance always includes liability coverage, which protects you when you cause injuries or property damage to another party. You can also add on the following types of optional coverage:
- Collision coverage
- Comprehensive coverage
- Personal property coverage
- Fishing equipment coverage
- On-water towing and labor coverage
- Medical payments coverage
- Uninsured/underinsured boaters coverage
Boat insurance is recommended for most watercraft with motors, including fishing boats, pontoon boats, speed boats, leisure crafts, and yachts. Boat insurance generally does not cover canoes, kayaks, or personal watercraft.
Every type of boat has the potential to be stolen, damaged, or involved in an incident that results in harm to another person or another person’s property. Even if your boat is docked or stored in your garage, it can be vandalized, damaged in a fire or storm, or stolen. Boat insurance can help you in all of these situations.
The cost of a Delaware boat insurance policy is likely to vary significantly from one person to the next. When you request a boat insurance quote, your rates will reflect a number of factors including, but not limited to:
- The type of boat you own
- How frequently you use it
- The amount of coverage you are requesting
- The size of your chosen deductible
- Your personal driving record
- Your claims history and credit score
You may be able to lower your costs by qualifying for discounts on your policy. Many insurance companies will offer discounts for completing a boating safety course, having multiple policies with the same insurer, and opting for electronic monthly payments on your premiums. Be sure to ask about possible discounts when requesting boat insurance quotes.
Travelers, Progressive, and Foremost Insurance Company are some of the best boat insurance companies in Delaware. They are highly rated for offering broad coverage, top-notch customer service, and a variety of affordable options for boat owners.
A local independent insurance agent can help you find a competitively priced Delaware boat insurance policy that meets your needs. Independent agents aren’t tied down to one carrier. They can get quotes from multiple insurance companies so you can choose the policy that best fits your needs and budget.
And an independent agent can help you find other types of personal insurance as well, including auto, home, or renters insurance.
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