Boat/Watercraft Insurance in Rhode Island

While Rhode Island might be the smallest state in the US, it doesn’t mean that the residents don’t like water activities. Featuring the Atlantic Ocean and several lakes and rivers, Rhode Island is home to thousands of boaters.

But to even elevate your water experience, boat insurance from Kingston Insurance Agency LLC of South Kingstown, RI helps you and your boat get optimal protection whether inside or outside the waters. Need to find more about boat insurance? We are here to help.

Is boat insurance mandatory in Rhode Island?

Rhode Island doesn’t require boaters to purchase boat insurance. However, if your boat is financed through a loan, the lender might require you to carry watercraft insurance until you pay off the facility. But whether boat insurance is mandatory or not, it’s a worthwhile investment to protect your prized asset.

You have put a lot of dollars into purchasing your watercraft; why not spend a few more on safeguarding it?

Common types of boat insurance coverages

The beauty of boat insurance is that it offers various options. This enhances convenience, customizability, and affordability. The common boat insurance types include:

  • Liability coverage: Protects you when you are at fault in a water accident. Pays for medical bills, property damage, and even legal costs for damages and losses caused to third parties.
  • Comprehensive and collision coverages: Collision coverage covers physical damage to your boat in case of an accident. Comprehensive coverage protects your boat against non-collision risks like theft, vandalism, fire, hail, storms, and other perils.
  • Medical payments: Pays for medical costs of you and your passengers for injuries sustained in a boating accident, regardless of who was at fault.
  • Uninsured/ underinsured coverage: Given that boat insurance isn’t mandatory in Rhode Island, many boaters go without insurance, putting you at risk when you collide with them. This insurance covers medical expenses and property damage where the insurance of the other party falls short.

Other optional boat insurance options to consider include:

  • Emergency assistance
  • Personal items coverage
  • Agreed value coverage
  • Fuel spill liability and wreckage removal
  • Unattached equipment coverage

Do you need boat insurance in Rhode Island? Contact Kingston Insurance Agency LLC in South Kingstown, RI today, and we will help you cover you and your boat.