Colorado Boat Insurance

Find the Best Boat Insurance Rates & Companies in Colorado

Colorado has some of the most picturesque landscapes in the US, and naturally, the state draws many boaters to its waters. Whether you're out on a bass boat in the Blue Mesa Reservoir or enjoying family time on Chatfield Reservoir in a cabin cruiser, owning a boat in this state can have many advantages. But unfortunately, accidents and disasters can happen. Investing in a boat insurance policy can help ensure that a day out on the lake doesn’t end up costing you more than a possible sunburn.

A Colorado independent insurance agent can help you find the right boat insurance. They'll get you matched to an appropriate policy for your unique vessel. But first, here's a closer look at Colorado boat insurance requirements and more.

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Best Boat Insurance Companies in Colorado

Are you looking for the best boat insurance in Colorado? It's helpful to know which carriers offer top-quality coverage. That's why we've included a few of our top recommendations for the best boat insurance companies in Colorado. Start by looking into the coverage offered by these outstanding carriers.

1. Nationwide: This insurance company offers boat insurance and several other personal and business insurance. Nationwide also has excellent ratings from AM Best and the Better Business Bureau (BBB) and provides 24/7 claims reporting.
2. Progressive: This insurance company offers boat insurance and many other types of personal and business insurance. Progressive has a superior financial strength rating from AM Best and provides 24/7/365 customer service.
3. Travelers: This insurance company offers boat insurance and several other kinds of personal and business insurance. Travelers also has outstanding AM Best and BBB ratings and provides many discount options.

An independent insurance agent in Colorado can help you find the right boat insurance policy for your needs from one of these top-rated carriers.

What Boat Insurance in Colorado Can Cover

Boat insurance policies can vary from one provider to the next. Coverage that comes standard with one policy may be optional with another. In Colorado, you can expect a boat insurance company to offer some or all of the following types of coverage:

• Boating liability insurance: This covers third-party bodily injuries and property damage if you're at fault for a collision on the water.
• Collision insurance: Pays for damage to your boat from a collision with another object, regardless of fault. 
• Comprehensive insurance: Pays for damage to your boat due to a non-collision event such as a flood or theft. 
• Medical payments insurance: This covers medical treatment for injuries to you and your passengers if you get hurt in a boating collision, regardless of fault.
• Equipment insurance: This covers the cost of losses or damage to boating gear or equipment like water skis, towables, or fishing gear stored on your boat.
• Fuel spill/wreckage cleanup coverage: This covers expenses related to the professional removal of your vessel from the water after a collision and remediation costs if the accident involved a chemical spill.
• Underinsured/uninsured boaters insurance: This covers damage to your boat and medical treatment for injuries to you and your passengers after an accident caused by a boater who doesn't carry any or enough boat insurance to pay for their portion of the damage.

A Colorado independent insurance agent can help you assemble a complete boat insurance policy that includes all the coverage you need.

Is Boat Insurance Required in Colorado?

Unlike car insurance, boat insurance is not required by law in Colorado. However, there are times when boat insurance may be necessary. If you finance your boat, your lender might require you to have boat insurance until your loan is paid off. Also, if you store your boat at a marina, Colorado boat insurance requirements allow marinas to include having coverage as part of your lease agreement. Regardless, having boat insurance can help you pay to repair or replace your boat after damage, collisions, etc. So, you might want to get boat insurance if you own any of the following:

Whether or not you are required to have it, getting boat insurance may be a wise decision, especially if your boat is very expensive or if you'll be operating it at high speeds. Paying for boat repairs or replacements out-of-pocket can be a sizeable financial stress for many individuals.

What Boat Insurance in Colorado Won't Cover

Though boat insurance in Colorado can provide reimbursement for many disasters, it won't cover everything. Here are some common coverage exclusions for boat insurance in Colorado that are important to be aware of:

• General wear and tear 
• Gradual deterioration or weathering damage
• Insect damage or destruction
• Mold damage
• Damage or destruction caused by animals or marine life

Knowing what your Colorado boat insurance won't cover can help you better prepare for many hazards that could damage your boat.

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Average Cost of Boat Insurance in Colorado

An average boat insurance policy in Colorado costs just $256 per year. Of course, many factors can affect your rate, including:

• The type of boat 
• The boat’s length and engine size
• If the boat transports passengers
• What kind of equipment is used with the boat
• Where the boat is stored 
• The policyholder's boating record and claims history
• The type and amount of coverage chosen

A local independent insurance agent can help you find the most affordable boat insurance near you.

What Boat Insurance Discounts Are Available in Colorado?

One way to save money on boat insurance in Colorado is by looking for discounts. You may be able to score big savings by taking advantage of some of the following boat insurance discounts:

• Bundling discounts: If you bundle your boat insurance with other coverage, like home insurance or auto insurance, through the same carrier, you can often score a discount on each type of coverage.
• Loyalty discounts: Sticking with the same boat insurance company for several years can earn you a discount over time.
• Lay-up discounts: This discount is typically available if you only use your boat during summer.
• Boater safety course discounts: Completing an approved boater safety course can often earn you big discounts on boat insurance.
• Security discounts: Many boat insurance companies reward boaters who protect their vessels against theft, etc., with security devices.
• Affiliation discounts: You can earn boat insurance discounts thanks to an affiliation with the company you work for or groups or memberships you participate in.

Your Colorado independent insurance agent can help find any boat insurance discounts you qualify for to help you save as much money as possible on your policy.

Popular Questions about Colorado Boat Insurance