The Top 3 Myths About Boat Insurance

There have been stories of sea monsters for centuries; from Loch Ness, to Sirens and Moby Dick–the oceans have long been steeped in myth. While not as exciting as some of the more storied myths, there are a few pervasive myths surrounding boat insurance that we are going to put to rest once and for all. Let’s take a look at the three most common myths surrounding boat insurance.

Boat Insurance Will Cover Me Wherever I Go Boating

Unfortunately, your dream of circumnavigating the globe may have to wait. While many boaters believe that if they have boat insurance, they’re covered anywhere they float, that simply isn’t the case. Most insurers identify a home port, and curtail their coverage to within 100 nautical miles of that point. Other insurers curtail their coverage to specific regions in the country. Take the time to check with your insurance carrier before you next outing on the water. It’s not worth finding yourself stuck out of coverage because you didn’t do your research.

I Can Only By Boat Insurance From The Provider Of My Car Insurance

While most insurance companies do offer multi-policy discounts, that does not necessarily guarantee you the best price, or the best coverage. Take the time to plan ahead and decide exactly what kind of coverage you are looking for. Then, do your research and price shop! Seek the opinion of insurance professionals and make an informed purchase. While you may still end up buying your policy from the same insurer are your car, you don’t have to. Purchase the policy that is best for you.

Everyone Pays More For Boat Insurance Now Because Of Frequent Hurricanes

While it can be true that hurricanes raise your boat insurance rates, it is not always the case. Boat insurance premiums are based on the area in which you live. This means that most policies are priced based on the claims filed in each state. If you live in a coastal state that sees more hurricane-related claims, you will be paying a higher price for your boat insurance. However, if you happen to live in a state that does not see hurricanes often you won’t! It is entirely dependent on the location in which you live.

It’s important to be able to separate fact from fiction when it comes to boat insurance. If you do have a boat, or are thinking about getting one, remember the truth about these myths before you purchase your boat insurance policy! If you need a more educated opinion, reach out to the insurance professionals at TGS Insurance–they are always happy to help. Learn more at