Insurance for boats up to 35 feet is generally easy to obtain and available through multiple U.S.-based carriers. Most applications can be completed online. For vessels over 35 feet, insurers typically review your boating experience and prior ownership history before providing a quote.

Boat insurance costs can vary significantly depending on several factors. For example, coverage for a $50,000 boat might cost a few hundred dollars per year, while a $1 million vessel could range from $5,000 to $7,000 annually.

The cost of boat or yacht insurance is primarily influenced by three factors: the value of the vessel, the navigation area, and the amount of liability coverage you select. Additionally, the age of the boat can also impact your premium.

Yes! First-time boat owners can insure vessels over 35 feet, but most carriers will want you to complete captains’ training. You’ll need a certified captain to verify your ability to operate the vessel safely, usually requiring 25–100 hours of supervised time depending on the boat’s size.

Agreed value coverage means the insurer will pay the full amount listed in your policy if the vessel is a total loss. Actual cash value coverage, on the other hand, accounts for depreciation, so the payout is based on the vessel’s current market value at the time of the loss.