Marine Insurance Information

Frequently Asked Questions

Do I legally need boat insurance?

Unlike auto insurance, boat insurance is not legally required in most U.S. states. However, some states do have minimum requirements, many marinas require proof of insurance to dock, and lenders typically require coverage if your boat is financed. At NBOA, we help boaters nationwide understand their specific state and marina requirements and find the right coverage to meet them.

What does a standard boat insurance policy cover?

A standard NBOA boat insurance policy typically covers physical damage to your vessel, liability for bodily injury or property damage to others, medical payments, and theft. Because we work with several exclusive A-rated carriers, we can tailor coverage to fit your exact needs — no one-size-fits-all policies here.

What types of boats does NBOA insure?

Just about anything that floats! NBOA provides insurance for jet skis, fishing boats, pontoons, sailboats, bowriders, center consoles, deck boats, houseboats, yachts, and more. If you're on the water, we've got you covered — nationwide.

Is my boat already covered under my homeowner's insurance?

Some homeowner's policies offer very limited coverage for small boats, but it typically falls well short when it comes to on-water liability or significant damage. A dedicated NBOA boat insurance policy gives you the comprehensive protection your vessel truly deserves.

What factors affect my boat insurance premium?

Several factors come into play, including the type, age, size, and value of your boat; how and where you use it; your boating experience and claims history; and how and where your boat is stored. NBOA works with multiple A-rated carriers to make sure you get the most competitive rate based on your unique situation.

What is agreed value vs. actual cash value coverage?

Agreed value means you and the insurer agree on your boat's value upfront — and that's exactly what you receive in the event of a total loss, with no depreciation deducted. Actual cash value factors in depreciation, so your payout may be less than expected. NBOA can walk you through both options to help you choose the coverage that makes the most sense for your vessel.

Does NBOA's boat insurance cover me in other states?

Absolutely. NBOA is a nationwide boat insurance agency, and our policies are designed to protect you no matter where you boat — from the Florida Keys to the Great Lakes, the Gulf Coast to the Pacific Northwest, and everywhere in between.

Does NBOA offer offshore or ocean coverage?

Yes. We offer policies that extend beyond inland and coastal waters, including coverage for Bahamas navigation. Every boater's needs are different, so we'll make sure your policy's navigational limits match where you actually boat. Just ask us about extended offshore options when getting your quote.

What is liability coverage and why do I need it?

Liability coverage protects you financially if you're responsible for injuring another person or damaging someone else's property on the water. It can also cover legal defense costs if you're sued. With more boats on the water than ever, liability coverage is one of the most important protections any boater can have — and NBOA makes it easy to get the right amount.

What is uninsured boater coverage?

Uninsured boater coverage protects you if you're in an accident caused by a boater who carries no insurance or not enough to cover your losses. NBOA strongly recommends this coverage as an added layer of financial protection for you and your passengers.

Are my passengers covered under my NBOA policy?

Yes. Most NBOA policies include medical payments coverage that can help pay for medical expenses for you and your passengers following an on-water accident, regardless of who was at fault — because your crew's safety matters as much as your boat's.

Is my boat covered while it's stored or on a trailer?

Yes. NBOA policies typically cover your vessel while it's in storage, on a trailer, or being transported — not just when it's in the water. Whether your boat is docked, dry-stored, or hauling down the highway, you can have peace of mind knowing it's protected.

Does NBOA offer towing coverage if I break down on the water?

Yes — and this is one area where NBOA truly stands apart. While some policies include basic towing coverage, NBOA members receive a comprehensive towing supplement as part of their membership. It's one of the many reasons boaters nationwide choose to become NBOA members beyond just getting a great insurance rate.

What about coverage for my personal property on board?

NBOA policies can include personal property coverage for belongings kept on your boat — think fishing gear, safety equipment, and personal items — in case they're stolen or damaged. Ask about this option when customizing your policy.

Can I get coverage for my boat's motor and electronics?

Yes. NBOA policies can cover outboard and inboard motors, trolling motors, GPS units, fish finders, marine stereos, and other onboard electronics. We'll make sure everything that matters to your time on the water is properly protected.

What happens if my boat is declared a total loss?

If your boat is declared a total loss, your settlement depends on whether you have agreed value or actual cash value coverage. NBOA will help you understand your options before you ever need to file a claim, so there are no surprises when it matters most.

Does where I store my boat affect my rate?

It can. Boats stored in secure marinas, dry storage facilities, or enclosed garages often qualify for lower premiums than vessels left in open or unprotected areas. NBOA works with you to factor in your storage situation and find the best possible rate through our network of A-rated carriers.

Can NBOA insure a boat I use for fishing tournaments?

Yes. Just be sure to let us know how you use your vessel when requesting a quote. Competitive or tournament use may need to be specifically noted in your policy to ensure you're fully covered during those events. NBOA's experienced team will make sure your coverage matches how you actually use your boat.

Does boat insurance cover hurricane or storm damage?

Most comprehensive NBOA policies do cover storm and hurricane damage. If you're in a coastal or hurricane-prone area — and with NBOA's roots in Florida, we know a thing or two about storm season — your insurer may require you to follow a storm plan to maintain eligibility. We'll help you understand exactly what's required to stay protected.

How do I get the best boat insurance rate with NBOA?

It's simple — contact NBOA for a free quote and let our team do the shopping for you. As one of the largest boat insurance agencies in the country with over 40 years of experience, we work with multiple exclusive A-rated carriers to find you the most comprehensive coverage at the best possible rate. And when you become an NBOA member, you'll enjoy even more savings through our Boat Equipment Store discounts, towing supplement, and exclusive member benefits. Getting great coverage for your boat has never been easier.