Kentucky Boat Insurance
Get a full analysis of Kentucky boat insurance costs, coverage, and companies.
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.
Find the Best Boat Insurance Options in Kentucky
Boating is a fun and relaxing pastime for residents of Kentucky, but it is not without its risks. Whether you prefer quiet time in your fishing boat, towing water skiers with your motorboat, or cruising in your yacht, you may want to consider boat insurance before you take your vessel out on the water.
A local independent insurance agent can help you learn more about boat insurance in Kentucky and find you a policy that meets your needs and budget.
Best Boat Insurance Companies in Kentucky
How can you make the best choice for boat insurance in Kentucky? We selected the following carriers as some of the best boat insurance companies in Kentucky. They are highly rated for their mix of valuable coverage offerings and competitive pricing.
- Progressive: Progressive is based in Ohio and offers personal insurance, including boat insurance. Kentucky residents can look to Progressive for most of their personal insurance needs.
- Travelers: Travelers offers highly-rated boat insurance in Kentucky. The company provides a variety of other personal insurance options, including auto, home, and renters insurance.
- Safeco Insurance: Safeco has been protecting individuals and families with personal insurance coverage since 1923. With a comprehensive range of insurance coverage, including boat insurance, Safeco helps Kentucky boat owners protect what’s important.
- Central Insurance Companies: Central Insurance Companies is a well-established carrier with more than a century’s worth of history in the insurance industry. It provides a wide range of coverage options, including boat insurance, in 24 states.
- Foremost Insurance Company: Foremost was founded in 1952 and offers a wide range of coverage, including boat insurance, in 50 states.
An independent insurance agent in your area can help you learn more about these and other Kentucky boat insurance companies. A local agent can help you get competitive quotes for the coverage that fits your needs.
Kentucky Boat Insurance Requirements
Boat insurance is not required by law in Kentucky, but there are a few cases where you might be required to purchase boat insurance by some other entity:
- If you finance your boat purchase, your lender is likely to require you to carry insurance for the duration of your loan. However, insurance coverage is optional once you own the boat outright.
- If you are using your boat as collateral for a loan, the bank may require you to insure it.
- You may be required to carry insurance if you dock your boat or yacht in certain harbors or marinas.
Many boat owners believe that their homeowners insurance offers liability coverage for losses caused by the negligent operation of their boat. While there may be some coverage in limited situations, it’s not likely to be enough to really help you if you’re at fault for a serious accident.
Homeowners insurance does provide some physical damage coverage for certain small boats (e.g., rafts, canoes, or kayaks) while they’re on your property (not in the water). And this coverage usually has a small limit (like $1,000).
You’ll need to purchase boat insurance in Kentucky if you want physical damage coverage for a larger motorized boat.
Your independent insurance agent can help you learn more about the requirements for boat insurance in Kentucky, and can help you find a policy that fits your needs.
What Boat Insurance Covers in Kentucky
Boat insurance in Kentucky works much like car insurance. It covers bodily injury and property damage that you cause while you are operating your boat.
It can also cover physical damage to your boat and your property inside the boat, depending on the coverage you select. You can tailor your coverage depending on the type of boat you have, how and where you use it, and the types of items you keep onboard.
A basic Kentucky boat insurance policy provides you with liability coverage:
- Bodily injury liability coverage: Covers the medical costs associated with injuries sustained by other boaters or by guests and visitors while aboard if you’re at fault for an accident.
- Property damage liability coverage: Covers damage to other people’s property, such as docks, marinas, and other boats, if you’re at fault for an accident.
You can also obtain coverage for physical damage to your own watercraft:
- Collision coverage: Covers repairs to or replacement of your own boat, motor, trolling motor, or any permanent boating equipment due to damage caused by a collision with another boat or an object while on the water.
- Comprehensive coverage: Covers repairs to or replacement of your own boat, motor, trolling motor, or permanent boating equipment due to damage or loss caused by anything other than a collision, such as theft, vandalism, fire, or a storm.
Some additional coverage options include the following:
- Personal property coverage for equipment such as tools, life preservers, anchors, and oars
- Coverage for fishing equipment like rods, lures, nets, and tackle
- On-water towing and labor coverage for a disabled vessel
- Medical payments coverage for hospital and funeral expenses for you or your passengers
- Uninsured/underinsured boaters coverage for an accident with another boater with insufficient or no boat insurance
Your local independent insurance agent in Kentucky can help you determine which coverage types may be beneficial for your unique needs.
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Average Cost of Boat Insurance in Kentucky
Different boats require different types of coverage, and the cost of boat insurance in Kentucky varies.
Your boat insurance premiums will be based on the coverage and deductibles you choose, as well as:
- How often you use your boat and your driving record
- Previous boat insurance claims
- Safety courses you have taken
- Horsepower of the boat
- Your age and gender
- The year, make, and model of the boat and motor
- Where you live and perhaps even your credit score
You may be eligible for certain discounts on your Kentucky boat insurance policy. Some insurers offer a layup discount, as well as a discount for successfully completing a boating safety course. What’s more, you will likely be eligible for a discount if you bundle your Kentucky boat insurance policy with your home and auto insurance.
How to Find the Best Boat Insurance Quote in Kentucky
An independent insurance agent can help you find the best Kentucky boat insurance for your needs. A local agent can get quotes from multiple insurance companies to make sure you get the best coverage at the right price. Working with a local agent is the best way to get knowledgeable, superior service from someone who understands the needs of boat owners in your community.
Find an independent insurance agent in your area now.
Kentucky Boat Insurance FAQs
Most boat owners in Kentucky need boat insurance. It simply makes sense if you want to protect yourself from the costs of boat-related accidents and if you want to cover your investment in your boat.
If you’re at fault for a boat accident, you’ll be responsible for paying the medical bills for injured parties and for paying to repair any damage that you do to other people’s property. Boat insurance provides liability coverage for these situations.
What’s more, boat insurance in Kentucky can cover damage to your own boat if it’s damaged in a collision, vandalized, stolen, damaged by a storm, and more.
There is no boat insurance law in Kentucky. Boat insurance is optional unless you’re required by a lender to purchase it or if a marina or harbor where you dock your boat requires you to have it.
Boat insurance always includes liability coverage, which protects you when you cause injuries or property damage to another party. You can also add on the following types of optional coverage:
- Collision coverage
- Comprehensive coverage
- Personal property coverage
- Fishing equipment coverage
- On-water towing and labor coverage
- Medical payments coverage
- Uninsured/underinsured boaters coverage
Boat insurance is recommended for most watercraft with motors, including fishing boats, pontoon boats, speed boats, leisure crafts, and yachts. Boat insurance generally does not cover canoes, kayaks, or personal watercraft.
Every type of boat has the potential to be stolen, damaged, or involved in an incident that results in harm to another person or another person’s property. Even if your boat is docked or stored in your garage, it can be vandalized, damaged in a fire or storm, or stolen. Boat insurance can help you in all of these situations.
Kentucky boat insurance costs vary based on a variety of factors, including:
- The type, size, and age of the boat
- The size/horsepower of the motor
- Whether you will be using your boat on inland waters or the open sea
- The amount of coverage you purchase and the policy options you choose
You may be eligible for certain discounts on your Kentucky boat insurance policy. Your independent insurance agent can help you determine all of the discounts that you’re eligible for.
Travelers, Progressive, Safeco, Foremost Insurance Company, and Central Insurance Companies are some of the best boat insurance companies in Kentucky. They are highly rated for offering broad coverage, top-notch customer service, and a variety of affordable options for boat owners.
A local independent insurance agent can help you find a competitively priced boat insurance policy that meets your needs. Independent agents aren’t tied down to one carrier. They can get quotes from multiple insurance companies so you can choose the Kentucky boat insurance policy that best fits your needs and budget.
An independent agent can also help you find other types of personal insurance, such as auto, home, or renters insurance.
https://www.valuepenguin.com/boat-insurance/is-boat-insurance-required