Virginia Boat Insurance

Find the Best Boat Insurance Rates & Companies in Virginia 

Virginia has many opportunities for boaters to enjoy themselves. Whether you cruise the waters of Lake Airfield or drift down the Appomattox River, chances are you love your watercraft. That's why you must protect your investment with a solid Virginia boat insurance policy.

Fortunately, a Virginia independent insurance agent can help you find all the boat insurance you need to protect your vessel. They'll consider your unique watercraft and its uses when selecting the right policy. But first, here's a behind-the-scenes look at Virginia boat insurance requirements and more.

Best Boat Insurance Companies in Virginia

Boat insurance is sold by many different carriers in Virginia. But when you're ready to find the best coverage, it can be helpful to know where to start. Look into these top-rated boat insurance companies in Virginia first.

1. Travelers: This insurance company sells boat insurance and several other kinds of personal and business insurance. Travelers has outstanding ratings from AM Best and the Better Business Bureau and offers many discounts.
2. Foremost: This insurance company sells boat insurance along with many other kinds of personal insurance. Foremost has excellent ratings from both AM Best and the Better Business Bureau and offers 24/7 claims reporting.
3. Progressive: This insurance company sells boat insurance and many other kinds of personal and business insurance. Progressive has a superior financial strength rating by AM Best and its customer service department is available 24/7/365.

A Virginia independent insurance agent can provide you with boat insurance quotes from these insurance companies and others that offer top-quality boat insurance in your area.

What Boat Insurance in Virginia Can Cover

Boat insurance can be designed to meet your personal needs and cover your specific watercraft. You'll likely choose from the following coverage options when assembling your policy:

• Towing insurance: Covers towing expenses if your boat becomes disabled on the water due to mechanical failure, etc.
• Collision insurance: Pays for damage to your boat from a collision with another object, regardless of fault.
• Boating liability insurance: Covers lawsuit expenses related to third-party claims of bodily injury or personal property damage.
• Comprehensive insurance: Pays for damage to your boat due to a non-collision event such as a flood or theft. 
• Fuel spill/wreckage cleanup insurance: Covers expenses related to wreckage and pollutant clean-up if you cause a collision on the water.
• Personal effects insurance: Covers the cost of repairs or replacements for personal items like scuba gear, fishing gear, and water skis, that get damaged, lost, stolen, or destroyed.
• Uninsured/underinsured boater insurance: Covers expenses related to property damage and medical treatments in case of a collision with a boater who doesn't carry adequate insurance to reimburse you.
• Medical payments insurance: Covers medical treatment expenses for yourself or your passengers after a boating collision, regardless of fault.
• Equipment insurance: Covers costs related to repairs or replacements for equipment or accessories not originally installed by the manufacturer, such as GPS units, boat hoists, and more, that get damaged, lost, stolen, or destroyed.

A Virginia independent insurance agent can help you create a boat insurance policy that makes the most sense.

Is Boat Insurance Required in Virginia?

Although Virginia doesn't require boat insurance by law, it requires boaters to register their vessels. Virginia also requires boaters to complete a boating safety course if:

• They're age 14 or older and operate a personal watercraft on public waters
• They operate a motorboat of 10 HP or greater, regardless of age

Though boat insurance isn't mandatory by state law, having coverage can help you get critical reimbursement after a disaster like a collision. For this reason, you might still want to seriously consider getting boat insurance if you have any of the following:

There may also be scenarios in which you're required to carry boat insurance, such as if you finance your vessel or you want to dock your boat at a marina.

What Boat Insurance in Virginia Will Not Cover

Boat insurance in Virginia comes with certain exclusions to be aware of. Don't expect your boat insurance policy to cover these issues:

• Boat damage due to marine life, insects, animals, or mold
• Gradual wear and tear damage
• Intentional or malicious acts against third parties
• Boat trailer damage, loss, or destruction
• Incidents caused by faulty or defective machinery (without an endorsement)

Being aware of what your boat insurance excludes can help you better understand what it does cover and when you can expect claims to be denied.

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Average Cost of Boat Insurance in Virginia

Virginia's boat insurance rates fall in the middle of the pack compared to the rest of the U.S. Boat insurance costs an average of $344 per year in Virginia. However, boat insurance rates can be impacted by any or all of the following:

• Where your watercraft is stored while not in use
• Your prior boat insurance claims
• The types and amounts of coverage you select
• Your exact location
• Your personal boating history
• The specs of your watercraft, including its make and model
• The engine size and length of your watercraft

Various factors can greatly increase the cost of your boat insurance, including if you've filed many boat insurance claims in the past or have a particularly valuable watercraft that would be expensive to repair or replace after a collision.

What Boat Insurance Discounts Are Available in Virginia?

Boat insurance discounts are offered by most carriers in Virginia. You might be able to save money on your coverage if you qualify for any of the following:

• Boater safety course discounts: Completing a state-approved boater safety course can earn you a discount.
• Security discounts: Taking measures to guard your watercraft against theft or vandalism with security devices can earn you a discount.
• Loyalty discounts: Keeping your coverage through the same boat insurance company for a set number of years can earn you a discount over time.
• Affiliation discounts: Having an affiliation with certain groups and organizations can earn you a discount.
• Lay-up discounts: Using your boat only in the summer can earn you a boat insurance discount.
• Bundling discounts: Bundling your boat insurance with another policy like home insurance, auto insurance, etc., through the same insurer can earn you discounts on each one.

The discounts offered vary by insurance company in Virginia. Your Virginia independent insurance agent can inform you of any available boat insurance discounts you qualify for that can save you money.

Popular Questions about Virginia Boat Insurance