(800) 253-1482Boat Insurance in Missouri
Summary: Missouri offers fantastic boating opportunities, from the Lake of the Ozarks to Table Rock Lake. While boat insurance isn’t mandatory, it’s essential for protecting your investment, covering liabilities, and ensuring peace of mind. Missouri boat insurance includes various coverage options like collision, property damage, and medical payments. Additional coverages like small accident forgiveness and no repair depreciation are available. Coverage costs vary, but shopping around can help you find the best policy. Explore top boating spots like Harry S Truman Lake and Wappapello Lake for your next adventure while ensuring the right protection for your boat. Estimated Read Time: 9 mins
Missouri has plenty of places to enjoy life on the water. With the Lake of the Ozarks alone featuring 93 square miles, it’s no wonder that boaters can be found far and wide in the Show Me State. Whether you’re rippin’ lips catching bluegill or largemouth bass, enjoying watersports, or simply just taking a ride, having the right Missouri boat insurance policy in place is crucial for everyone heading out on the water.
Do You Have to Have Boat Insurance in Missouri?
Missouri does not require boat insurance, but that doesn’t mean you don’t need the right policies in place.
Not only is boat/personal watercraft coverage there to help you restore your boat or help when things go wrong, but it’s also helpful for protecting your finances in the event of an injury or if you’re responsible for damaging another party’s property.
Furthermore, if you are financing or leasing your watercraft or keeping your vessel at a marina, having boat insurance is often a requirement, and you’ll need proof of coverage.
The bottom line is while Missouri boat insurance requirements may depend on your situation, not having the right coverage can cost you dearly.
How Boat Insurance Protects You in Missouri
Boat insurance protects your investment if your boat is lost, damaged, or destroyed.
It covers collision damage, property damage to others, and injuries from accidents. Comprehensive coverage helps with theft, vandalism, and non-collision damage.
You can also add trailer coverage, fishing equipment protection, uninsured boater coverage, and waterside assistance for extra security.
Keep in mind you will need to choose how you receive reimbursement after a claim.
Boaters have two options, including actual cash value (ACV), which factors in depreciation, or an agreed amount value, paying you a set amount you and your carrier agree upon when you enroll.
Your needs and budget will determine which is best for you, as the method you choose will affect how much you pay in premium and the amount you receive after a loss.
Types of Watercraft Protected
Boat insurance covers a wide range of watercraft, including fishing boats, pontoons, sailboats, and even yachts.
It doesn't matter if you're boating in Benton, Camden, Miller, or Morgan counties or anywhere else in Missouri, there are coverages ready to protect you on the water.
Though you may need separate coverage, even personal watercraft, such as jet skis, can be protected.
Missouri Boat Insurance Coverages
Missouri offers endless ways to enjoy the water, from spotting shorebirds on Big Lake to sailing at Stockton State Park or enjoying watersports by Smithville Lake.
Whether it's a family outing or a solo escape, boating in the Show Me State is hard to beat—with so many beautiful spots, it's no wonder boat ownership is growing.
However, accidents happen, and a fun day on the water can quickly take a turn. Staying prepared and protecting your adventure is a must, which is why the right boat insurance coverage is essential.
However, the good news is that there are several different coverages available to keep boaters better protected while out on the water.
Overall, the right Missouri watercraft insurance policy is going to protect against your risks while meeting your budgetary needs. Here are some common coverage options to consider:
Property Coverage
Boat owners can select from two types of property coverage. Liability coverage defends your finances if you damage someone else's boat.
Property coverage protects your watercraft from accidents on land or water and may also include theft protection.
Additionally, you will need to choose between ACV or an agreed amount value method.
Bodily Injury Coverage
You never know what can happen on the water and accidents can happen even with experienced captains. Bodily injury coverage will keep you from covering expensive medical expenses or the loss of income for another party on your own when you’re liable.
Comprehensive Coverage
Think of comprehensive coverage as a safety net for your watercraft, similar to auto insurance. It protects you from unexpected events that aren’t accident-related, such as fire, weather damage, or harm caused by natural disasters.
Collision Coverage
One of the worst ways to end your day boating is to have it cut short by hitting a submerged tree or running into a dock underwater when you’re coming home. With collision coverage, boaters have protection to help restore their own watercraft and avoid paying out of pocket.
Uninsured Watercraft Coverage
Ideally, everyone out on the water has adequate coverage, but unfortunately, not everyone carries a policy. If someone damages your watercraft but isn’t insured, this coverage helps you restore your losses without a stressful, messy legal battle.
Medical Payments Coverage
An especially important coverage for larger boats or boaters who often carry passengers, medical payments coverage covers their expensive healthcare bills after an accident so you don’t have to.
Additional Coverages
When you’re shopping for boat insurance in Missouri, you might come across additional coverage options that can offer extra peace of mind. For example:
- Small accident forgiveness means your premiums won’t go up if you make a minor claim, like a couple hundred dollars worth of damage.
- If you haven’t filed a claim in the last few years, large accident forgiveness may help too—ensuring that your next renewal isn’t impacted by an accident.
- You can also consider coverage for fuel spills or wreckage removal, which covers the cost of cleaning up spills or getting your boat out of the water after an accident.
- Finally, if you're worried about depreciation, some policies offer no repair depreciation, meaning you’ll get your boat or equipment repaired to its pre-accident condition or better.
While some of these options might come with a higher premium, they’re worth considering based on your boating habits and needs.
Be sure to talk to your agent about your risks and your options to find the best policy for your needs.
Do You Need Insurance on a Boat Trailer in Missouri?
You’re not legally required to have insurance for your boat trailer, but going without it could leave you paying out of pocket for damages in an accident.
Adding your trailer to your boat insurance policy can help cover damage, even if your boat isn’t on it at the time.
Furthermore, auto insurance in Missouri doesn’t cover damage to your trailer itself, even if your policy will cover injuries or damages you cause while towing it.
If your boat trailer is stolen from your home, your homeowners insurance might help, though coverage is usually limited.
When deciding whether to insure your trailer, consider its value, age, and if you can afford to replace it without facing major financial headaches.
Home Insurance and Boating
Separate boat insurance is essential because homeowners insurance policies often provide limited coverage for watercraft.
While your home insurance may cover damage when your boat is parked on your property, it typically won’t protect against accidents, liability, or sinking once it’s on the water or being transported.
Coverage amounts vary by policy, and relying solely on your policy could leave you unprotected in critical situations.
A dedicated boat insurance policy ensures you have the right protection for accidents, theft, and liability, giving you peace of mind both on and off the water.
Boat Dock Insurance in Missouri
The bad news? Boat docks aren’t usually covered under boat insurance, but the good news is that you may have options:
- If your dock is on your property, your homeowners insurance might cover damage from fire, lightning, windstorms, or hail. However, it may not protect against flooding, ice damage, or collapse.
- Some insurers classify removable docks as personal property, affecting how your coverage protects you, so be sure to understand your policy's details.
- Furthermore, flood insurance won’t cover docks, seawalls, or piers.
Top Boating Communities in Missouri
You can’t think of Missouri without picturing some of the country’s best landscapes featuring bodies of water.
Many top boating communities are found within the Show Me State, attracting locals and visitors alike for all looking for a bit of recreation on the water:
- Lake of the Ozarks: The largest lake in the state, a community of around 92,000 residents welcomes an additional 5 to 10 million visitors, depending on which source you believe. Known for its watersports, parties, speedboating, and fishing, the recreation here is unlike any other.
- Mark Twain Lake: A favorite of those living in or traveling to northeast Missouri, there are more than 18,600 acres of water, several dedicated recreation areas, and plenty of crappie and bass fishing to enjoy.
- Table Rock Lake: Famous for its clear waters and stunning scenery, Table Rock Lake is a great spot for boating, fishing, and various watersports. With its picturesque shoreline and numerous coves, it’s a favorite destination for families and adventure-seeking boaters alike.
- Harry S Truman Lake: Spanning over 55,000 acres, Harry S Truman Lake is a haven for boating and fishing. Its peaceful, less-crowded atmosphere makes it perfect for those looking to unwind and enjoy the surrounding nature and wildlife, including white-tailed deer, waterfowl, and more.
- Wappapello Lake: Nestled in the Ozarks, Wappapello Lake is perfect for both boating and camping. With its calm waters and rich wildlife, it's a peaceful retreat, drawing visitors who love fishing, hiking, and exploring the natural beauty of Southeast Missouri.
- Lebanon, MO: Lebanon, known as the "aluminum fishing boat capital of the world," produces around 50,000 boats annually. Prominent manufacturers like Lowe Boats and Tracker Marine operate here.
- Missouri City, MO: Missouri City also contributes significantly to the aluminum boat industry, solidifying The Show Me State's boating reputation.
How Much Is Boat Insurance in Missouri?
Boat insurance in Missouri costs around $300 per year, however, policies can be as low as $100 when enrolling in the bare minimum coverage.
If you add more coverages to your policy, expect higher premiums, such as comprehensive and collision, but you're also receiving better protection as a result.
Several factors can affect your rate including the type of watercraft you're insuring, your experience, claims history, and the horsepower your boat has.
How to Save on Boat Insurance in Missouri
You can easily save on coverage for your watercraft, as many insurers offer discounts for safe boating, homeownership, multiple boats, paying in full, taking a Missouri-approved safety course, or bundling policies.
Bundling boat insurance with another policy can lower costs, but it’s not always the best deal, and while discounts are appealing, separate boat insurance might offer better coverage for a lower price.
The best thing boaters can do is shop around to ensure that they are receiving the best coverage at the lowest cost.
To compare Missouri boat insurance policies, give us a call at the number above for a free personalized quote from top-rated carriers near you.
