What is boat comprehensive and collision coverage?

Also known as marine hull insurance, comprehensive and collision coverage may pay to repair or replace your boat if it's physically damaged in a covered incident, minus your deductible. Although they are often referred to as "insurance," comprehensive and collision are actually coverages that can be added to a boat insurance policy, not separate types of insurance.

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What does comprehensive boat coverage cover?

Comprehensive boat coverage protects your watercraft against damage resulting from unexpected events outside of your control, including:

Impact with an animal
Vandalism
Theft
Hail damage
Flood damage
Fire damage
Wind damage
Lightning damage
Falling objects

What does boat collision coverage cover?

Boat collision coverage provides protection against boat collision damage in the event your boat collides with another watercraft or object, such as a dock.

What is hull insurance?

Hull insurance is another term for boat comprehensive and collision coverage, also known as physical damage coverage. The general term can apply to watercraft or aviation, but the term marine hull insurance specifically refers to boats and other watercraft.

Are boat comprehensive and collision coverages required?

Boat comprehensive and collision coverages are not required by state law. If you're financing or leasing your boat, your lender typically requires boat comprehensive and collision coverage. If you're keeping your boat at a marina, you may also be required to carry these coverages. If you own your watercraft outright, both coverages are considered optional but may be worth considering if protecting your boat, sometimes one of your most expensive assets, is a top priority.

Pro tip:

Comprehensive boat coverage can cover your boat year-round, even while it's in storage or kept at a marina or in your driveway.

Should I add boat comprehensive and collision coverages to my policy?

If you own your watercraft, comprehensive and collision coverages may be critical additions to your boat insurance policy. The decision to add these coverages depends on a few factors, including your financial situation, personal preferences—and perhaps most importantly—the actual cash value of your watercraft.

In a covered incident, comprehensive and collision coverages may pay to repair or replace your boat up to its cash value. If your boat has a high cash value and you're unable to afford to replace or repair your boat in case of damage or loss, comprehensive and collision coverages may make for valuable additions to your policy. If your boat has a low cash value, these coverages may not be worthwhile, especially considering a deductible applies to boat comprehensive and collision claims.

Learn more about what boat insurance covers and which boat insurance coverages are required.