Most Common Boat Insurance Claims

average boat insurance costs

If you’re considering purchasing a boat you might be researching average boat insurance costs. There are a number of factors that impact insurance costs including the boat’s value, driver history, safety courses taken and frequency of boat use. On average boat insurance costs approximately 40% less than auto insurance, which makes sense because you probably drive a boat less than half of the time you spend driving your car. However, before you decide on what kind of insurance coverage to get you might want to research some liabilities related to owning a boat. You could be surprised to learn the most common types of boat related incidents and liabilities, and it’s a good idea to make sure your insurance policy covers them.

Most Common Boat Insurance Claims

People might think that the most common boat insurance claims are due to collisions with other boats, but collisions barely make the top five list. The Boat Owners Association of the United States researches many different kinds of information related to boats and boat ownership. According to them the most common type of boat insurance claims filed are for towing cost reimbursement.

The next most common types of boat insurance claims are:

  • Hurricane Damage
  • Sinking
  • Hitting Submerged Objects
  • Collision
  • Weather or Wind Related Damage
  • Theft
  • Grounding
  • Fire

It’s a good idea to be covered for as many of these liabilities as possible.