The type of boat, its length, and its expected use will largely determine your boat insurance rates. Whether you have a speed boat, a small fishing boat, or a yacht will make a big difference in what you pay.

Navigational Area: Know where you are covered in the water. Some companies offer protection that covers you up to 75 miles from the U.S. coastline; into Canadian coastal or inland waters; and into the Pacific coastal waters of Mexico. In California, Florida and Oregon, additional coverage area may be purchased.

Agreed Value Coverage: Boats depreciate just like automobiles. Actual cash value policies can make it difficult to replace a boat that’s been stolen or destroyed. Agreed value means that if your boat is a total loss you will get the value you insured agreed value minus any deductible.

Liability: Personal liability coverage provides coverage to other boat owners and boaters in the event you are at-fault for an accident on the water. This coverage will pay to repair or replace the property of someone else as well as for their medical care, lost wages and other costs incurred as a result of a boating accident for which you are at-fault.

Medical Payments: Medical payments coverage will pay for the cost of needed care that results from a boating accident. This coverage is available from $500 to $10,000 and covers you, your passengers, and even your water skiers/tubers, regardless of who is at-fault.

Physical Damage Coverage: Physical damage coverage pays for the cost to repair or replace your watercraft, its motor, any permanently attached equipment, and your trailer, if it is stolen or damaged.

Uninsured/Underinsured Watercraft Bodily Injury: Since boat coverage is not always mandatory, many boaters choose to go without insurance. If you are hit by an uninsured or underinsured boater, and you are injured, this type of coverage pays for medical treatment, lost wages, and other costs associated with the accident.

Fuel Spill Liability and Wreckage Removal: Should your boat sink or be seriously damaged, there is always a chance that it could leak oil or fuel into the water. As the boat’s owner you are required by law to clean this up, which can be time consuming and expensive.

Personal Effects: Your policy can provide coverage for many personal effects, including clothing, jewelry, cell phones, scuba/snorkeling and other sporting equipment, and fishing equipment.

Unattached Equipment Coverage: This pays to repair or replace equipment that isn’t permanently attached to your boat or personal watercraft, but is designed to be used primarily on a boat. This includes items like lifesaving equipment, water skis, anchors, oars, fire extinguishers, tarps etc.

Emergency Assistance: The Emergency Assistance Package provides coverage for towing, labor and delivery of gas, oil or loaned battery if the boat is disabled while on the water.