With so many wonderful boating destinations, like Lake Michigan, the Monroe Reservoir and Glendale Marsh, it is little wonder that so many Hoosiers enjoy boating as a summer recreational activity. While many people opt to rent boats, more than 200,000 private boats are currently registered to Indiana residents. Whether you own a large yacht, a medium-sized fishing boat or a small canoe, boating insurance is an inexpensive way to protect your investment and your finances.
Independent insurance agents in our network can answer questions you may have about boat insurance to help you determine your unique coverage needs. Independent agents have relationships with several different insurance companies, so they can easily find you an affordable Indiana boat insurance policy that meets your coverage and budgetary requirements. Contact a local agent today for more information and Indiana boat insurance quote comparisons.
- All boats must be registered
- Boat operators on public waterways must be at least 15 years old
- Boat operators who do not have a state-issued driver’s license must have an ID pass verifying the successful completion of a department-approved boating safety course.
- Boat Insurance is not required by the state
Several states have laws that require boat owners to carry insurance, but with the exception of boats used for commercial purposes, Indiana does not require it. However, a bass boat or a fishing boat can be expensive, so purchasing a comprehensive boat insurance policy can protect your investment.
Boating Accidents: How IN Compared to the Rest of the Country
- Nationwide, there were 4588 boating accidents, 686 of which were fatal
- In Indiana, there were 50 boating accidents, 10 of which were fatal
- Nationwide, 1709 boating accidents resulted in property damage
- In Indiana, 16 boating accidents resulted in property damage
- Nationwide, boating accidents caused $52,198,658 in damages
- In Indiana, boating accidents caused $296,650 in damages
- National boating accident fatality rate: 6.2
- Indiana’s boating accident fatality rate: 4.6
Without a comprehensive boat insurance policy in place, boating accidents could be financially devastating. The average cost of each of Indiana’s 50 boating accidents in recent years was nearly $6000, and if you only count the 16 accidents that resulted in property damage, the cost of each averaged about $18,500.
Top Three Types of Boating Accidents in Indiana in 2011
- Collision with another boat: 15 accidents
- Collision with a fixed object: 7 accidents
- Falls overboard: 7 accidents
Operator inattention and inexperience are some of the most common causes of boating accidents. If you follow posted boating regulations and remain alert and watchful at the helm, you’ll be proactively keeping your boat and your passengers safe. Other proactive measures you can take include enrolling in boating safety courses, which can also save you money on your boat insurance policy. Many people think that their homeowners insurance will cover their boats, but this coverage is usually very limited. For complete coverage, you need a comprehensive boat insurance policy.
What Does Boat Insurance Cover?
A basic Indiana boat insurance policy will provide liability coverage for you if you’re at fault for an accident that causes property damage or injuries to others. It will also provide coverage for damages to your own property if it is damaged while in use or while being transported to and from the water.
Indiana boat insurance will provide some or all of the following coverage:
- Personal property such as safety equipment, tools, and fishing equipment
- Towing and assistance if your boat is disabled or in need of service
- Medical expenses for you and your passengers if someone is injured in a boating accident
- Accidents caused by uninsured or underinsured boaters; this is very important in Indiana because boat insurance is not required
- Damages to your boat while docked or not in use
- Fuel spills and wreckage cleanup
Find the Best Indiana Boat Insurance Policy
Getting boat insurance quotes can be time-consuming because you must provide each insurance company with your personal details as well as information about your boat, where and how you will be using and storing it and how much coverage you wish to purchase. An independent agent can simplify the process for you because you’ll only provide your information once and your agent will do the comparison shopping for you. Your local agent is available to assist you with all your insurance-related questions and needs and will advocate for you during the claims process.
Contact an independent agent today to obtain obligation-free Indiana boat insurance quotes.