Indiana Boat Insurance: Why You Should NOT Attach Your Boat to a Homeowners Policy

Finding boat insurance coverage in Indiana is easy. But finding the right coverage for your boat can be confusing. It is very common for a homeowner that buys a boat to simply attach the boat to their homeowners insurance policy. It is simple and easy to do. And it usually costs a few bucks less than a stand alone boat insurance policy. However, as you are about to see, there are major shortcomings with coverage using that strategy.


 When you compare a stand alone boat insurance policy versus a boat attached to a homeowners policy (HO), there is no comparision! Stand alone boat insurance coverage wins over a boat attached to a HO every time:

• Many HO policies don't cover a boat that is moored in a marina.
• Some HO policies exclude boaters who participate in fishing tournaments, regattas and poker runs.
• HO policies usually use ACV basis instead of Agreed Value.
• HO policies are less flexible about the size and horsepower of the boat than a stand alone boat insurance policy.
• HO policies offer very little coverage for personal property.

   Other coverages not usually found on a HO policy that are usually found on a stand alone boat insurance policy:

• Emergency assistance
• Protection from uninsured boats and medical payments coverage.
• Recovery costs (debris removal)
• Trailer coverage
• Coverage on accessories
• liability coverage for spillage (fuel leakage)

  Of course these coverage options will vary between one company and another.  But as a general rule of thumb, stand alone boat insurance coverage is always superior. It's also important to note that stand alone coverage for boats is usually only a few dollars more than a boat insurance policy attached to homeowners. So therefore it's well worth the few extra bucks for the much better coverage.


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