Tennessee Boat Insurance

Find the Best Boat Insurance Rates & Companies in Tennessee 

Tennessee is well known for its music and active nightlife. However, the state also has a number of large rivers and more than 50 lakes within its borders. Boating is another one of the most popular activities in Tennessee, and as such, there's an increasing number of watercraft registered in the state with each passing year. To protect your investment, you'll need to get the proper coverage. 

Luckily, a Tennessee independent insurance agent can help you get set up with the right boat insurance. They'll make sure they find a policy that best covers your unique vessel. Until then, here's a deep dive into Tennessee boat insurance requirements, costs, discounts, and more.

Best Boat Insurance Companies in Tennessee

Boat insurance is offered by many different carriers throughout Tennessee. However, when you're looking for top-quality coverage, it's helpful to know where to start. Here are just a few of our picks for the best boat insurance companies in Tennessee.

1. Westfield: This insurance company sells boat insurance and many other types of personal and business insurance. Westfield has excellent ratings from both AM Best and the Better Business Bureau and works with a large network of independent insurance agents.
2. Foremost: This insurance company sells boat insurance and many other kinds of personal insurance. Foremost has great AM Best and Better Business Bureau ratings and offers 24/7 claims reporting.
3. Travelers: This insurance company sells boat insurance and several other kinds of personal and business insurance. Travelers has outstanding AM Best and Better Business Bureau ratings and offers many discounts.

A Tennessee independent insurance agent can provide you with boat insurance quotes from any of these insurers and others that sell coverage in your city.

What Boat Insurance in Tennessee Can Cover

Boat insurance is highly customizable, so you can select the coverage options that work best for you. In Tennessee, you can often find the following coverages:

• Towing insurance: Covers towing expenses if your boat becomes disabled on the water due to mechanical failure, etc.
• Boating liability insurance: Covers lawsuit expenses related to third-party claims of bodily injury or personal property damage.
• 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. 
• Fuel spill/wreckage cleanup insurance: Covers expenses related to wreckage and pollutant clean-up if you cause a collision on the water.
• Personal effects insurance: Covers the cost of repairs or replacements for personal items like scuba gear, fishing gear, and water skis, that get damaged, lost, stolen, or destroyed.
• Equipment insurance: Covers costs related to repairs or replacements for equipment or accessories not originally installed by the manufacturer, such as GPS units, boat hoists, and more, that get damaged, lost, stolen, or destroyed.
• Medical payments insurance: Covers medical treatment expenses for yourself or your passengers after a boating collision, regardless of fault.
• Uninsured/underinsured boater insurance: Covers expenses related to property damage and medical treatments in case of a collision with a boater who doesn't carry adequate insurance to reimburse you.

A Tennessee independent insurance agent can make the process of assembling the ideal boat insurance policy much easier.

Is Boat Insurance Required in Tennessee?

Tennessee doesn't mandate boat insurance by state law. Many boaters still find they're required to have coverage, however, such as if they dock their watercraft at a marina. 

Those who finance their vessels are also often required to have coverage by their lenders. Because of this, it can be wise to go ahead and get coverage, particularly if you own any of these:

Aside from instances in which boat insurance may actually be required, having coverage can benefit you in many other ways. Just one lawsuit related to a boating collision or another incident can set you back several thousand dollars if you lack coverage. Considering this, the cost of boat insurance may be well worth it after all.

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What Boat Insurance in Tennessee Will Not Cover

Coverage exclusions exist for every type of policy, and boat insurance is no exception. In Tennessee, boat insurance tends not to cover the following:

• Damage, destruction, theft, or loss of boat trailers
• Intentional or malicious acts against third parties
• Gradual wear and tear of your boat and equipment
• Accidents and more caused by faulty or defective machinery (without an endorsement)
• Damage to boats caused by marine life, insects, animals, or mold

It's critical to understand what your boat insurance covers and what it doesn't. That way, you can seek out any additional coverage you may still want.

Average Cost of Boat Insurance in Tennessee

Boat insurance in Tennessee costs about $344 per year, which places it right around the middle of the pack. However, your policy may be more or less expensive based on the following factors and more:

• Where you live and store your boat
• How often you use your boat
• Your prior claims and boating history
• Your boat's engine size and length
• Your boat's make and model
• Which types of coverage you select

If you've submitted boat insurance claims before, you can typically expect higher rates for your current coverage. Many other factors can also lead to more expensive premiums, such as owning an especially valuable boat that would cost more to repair or replace.

What Boat Insurance Discounts Are Available in Tennessee?

Boat insurance costs in Tennessee can be reduced thanks to many available discounts. Though the specific discounts offered vary by insurer, you can often find these options:

• Security discounts: Taking measures to guard your watercraft against theft or vandalism with security devices can earn you a discount.
• Affiliation discounts: Having an affiliation with certain groups and organizations can earn you a discount.
• Loyalty discounts: Keeping your coverage through the same boat insurance company for a set number of years can earn you a discount over time.
• Boater safety course discounts: Completing a state-approved boater safety course can earn you a discount.
• Lay-up discounts: Using your boat only in the summer can earn you a boat insurance discount.
• Bundling discounts: Bundling your boat insurance with another policy like home insurance, auto insurance, etc., through the same insurer can earn you discounts on each one.

A Tennessee independent insurance agent can bring the cost of your boat insurance down as much as possible, partially thanks to any discounts you may qualify for.

Popular Questions about Tennessee Boat Insurance