Mississippi Boat Insurance

Who Needs Mississippi Boat Insurance?

Boating opportunities in the state of Mississippi extend well beyond the Gulf of Mexico. The Mississippi River borders most of the long, western side of the state. Granada Lake covers over 100,000 acres and the Ross Barnett Reservoir covers another 33,000. This adds up to a lot of boats and each one of them is subject to weather or collision damage, theft and liability issues. Mississippi boat insurance is a way to minimize those concerns.

Regardless of whether you have a bass boat, a yacht, or something in between, a MS boat policy can prevent many sleepless nights. Besides removing the worry about damage to your own vessel, the fact is that all boat owners are liable for damage to other boats as well as injuries to people. A member agent in the Trusted Choice® network can produce multiple Mississippi boat insurance quotes that you can compare. Contact your local member agent today to find the right coverage for your circumstances.

National Boating Accident Figures

The U.S. Coast Guard maintains a boating accident database that accumulates information about all boating accidents throughout the country. The most recent statistics for the year 2010 include:

  • Number of boating accidents: 4,604
  • Number of fatalities: 672
  • Number of injuries: 3,153
  • 88% of boat drowning victims were not wearing a life jacket
  • 80% of the drowning victims were from boats less than 21 feet long

Not surprisingly, alcohol was a contributing factor in over half of those boating fatalities. While Mississippi boat insurance cannot eliminate boating accidents or deaths, it may reduce the pain and expense of liability legal action or repairs.

What Does Mississippi Boat Insurance Cover?

The range of boat values runs the gamut, from small pontoons to large bass boats to mega yachts. However, the primary areas of concern stay about the same.

  • Bodily injury liability: Protects you if you unintentionally injure another person while using your boat. It generally covers your legal expenses, and pays for medical costs and loss of income for the victim.
  • Property damage liability: Covers you for damage to another person's property, such as boats, skis and docks.
  • Physical damage: This coverage protects your boat and trailer.
  • Comprehensive: Like auto insurance, this covers damage from fire, theft, vandalism, and weather-related damage.
  • Optional extras: These include coverage for fishing or dive gear, uninsured or underinsured boaters, medical payments for you and your passengers, towing coverage, fuel spill and wreakage cleanup and more.

Since there is such a wide range of boat values and coverage options, there is no average cost for Mississippi boat insurance. The best way to figure the costs is to let your Trusted Choice member agent develop some policy quotes for you to compare.

Which Types of Boats Should Be Insured?

Since boat insurance is not mandatory in Mississippi, the determination of whether or not to have your boat insured is a matter of choice. Consider your use of your boat, whether you bring passengers, tow water skiers or wake boarders, boat fast in crowded waters and other risks.

For example, here are some things to consider, depending upon the type of boat you own.

  • Canoes and kayaks: You may be able to cover these under your homeowners or renters insurance policy. Be sure to check with your agent whether coverage extends to your time on the water.
  • Small boats: You may be less concerned with covering your investment if you have a smaller boat than if you have a large sailing yacht. However, it is important to note that small boats are more easily stolen, and injuries and fatalities are more commonly associated with small watercraft.
  • Fishing boats: If you have a bass boat or any other type of fishing boat, most likely you transport it on a trailer and the maneuver it on and off the trailer, which can be a potential source of boat damage.
  • Charter boats: If you have a charter boat and take guests on board for fishing or touring, you will definitely need commercial boat or charter boat insurance to cover your liability risks.
  • Yachts and speed boats: Taking passengers on your boat for pleasure rides puts you at significant risk for liability issues. Even if you have substantial assets and can afford to repair or replace your boat if it is damaged, a liability lawsuit could be devastating.

Boat insurance tends to be very affordable, even for year-round use. It is even less expensive if you use your boat seasonally or in fresh water only. Consider talking with a local independent agent in the Trusted Choice network who can help to assess your individual needs and risks.

Where to Find Mississippi Boat Insurance Quotes

The bottom line is that Mississippi boat insurance can be the best way to make sure that most of the extreme expenses associated with boat ownership are smoothed out into relatively low monthly or annual premiums. Most people would agree that the predictable cost of good boat insurance is preferable to unpredictable and potentially devastating losses, regardless of the size of the boat.

If you have relied upon a "captive" insurance agent in the past, you will be happy to learn that independent agents in the Trusted Choice network have more flexibility to find coverage from several different insurance companies. A member agent can provide several Mississippi boat insurance quotes so you can choose the coverage that is best suited to your budget and specific boat insurance needs. There are over 22,000 member agents located across the country. Find a local member agent today.

Now, who's ready to get their insurance problems solved?