Alaska Boat Insurance

Find the Best Boat Insurance Rates & Companies in Alaska

Whether you prefer a quiet weekend in your fishing boat on the Ninilchik River, towing water skiers behind your motorboat on Wasilla Lake, or cruising the Pacific in your yacht, you should get equipped with a boat insurance policy before you ever take your vessel out on the water. Boating collisions, lawsuits, vandalism, and other incidents can cost you hundreds or thousands of dollars if you're without coverage. Further, you may be required to have coverage in certain cases. 

An independent insurance agent in Alaska can help you find the right boat insurance policy. They'll get you matched to the appropriate amount of coverage for your unique watercraft. But first, here's a deep dive into requirements for boat insurance in Alaska and more.

Best Boat Insurance Companies in Alaska

Having top-quality boat insurance can make all the difference if you ever need to file a claim. That's why it's helpful to skip straight to the best boat insurance companies in Alaska when you're ready to compare coverage. Start by looking into the policies offered by these excellent carriers near you.

1. Foremost: This carrier offers boat insurance and many other types of personal insurance. Foremost is highly rated by AM Best and the Better Business Bureau (BBB) and offers 24/7 claims reporting.
2. Progressive: This carrier offers boat insurance and many other types of personal and business insurance. Progressive is highly rated by AM Best and offers 24/7/365 customer service.
3. Safeco: This carrier offers boat insurance and many other types of personal insurance. Safeco is highly rated by both AM Best and the BBB and offers 24/7 claims reporting. 

An Alaska independent insurance agent can provide you with quotes for boat insurance policies from all of these outstanding carriers and others in your area. Your agent can help you find the right commercial fishing boat insurance, passenger boat insurance, or whatever type of policy you're searching for.

What Boat Insurance in Alaska Can Cover

Boat insurance policies can be customized to include the specific types of protection you need most. But you can expect the following coverage options to be available from most boat insurance companies in Alaska:

• Boating liability insurance: This can cover your financial responsibilities if you're at fault for a boating accident that results in third-party injuries and/or property damage. 
• Comprehensive insurance: Pays for damage to your boat due to a non-collision event such as a flood or theft. 
• Fuel spill/wreckage cleanup insurance: This can provide you with the funds and resources necessary to remove wrecked boats and debris from the water and clean up any resultant fuel spills if you're responsible for a boating accident.
• Equipment insurance: This can cover the loss of or damage to any equipment and accessories not installed by the manufacturer, such as boat hoists, GPS units, marine instruments, and kicker motors.
• Collision insurance: Pays for damage to your boat from a collision with another object, regardless of fault. 
• Towing insurance: This can cover the cost of having your boat towed back to shore if it becomes disabled while out on the water, such as if you experience engine failure or steering problems.
• Medical payments insurance: This can cover medical expenses if you or your passengers get injured in a boating accident, regardless of fault.
• Personal effects insurance: This can cover personal items like fishing gear, water skis, scuba gear, cameras, cellphones, and portable speakers if your property gets lost, damaged, or stolen.
• Uninsured/underinsured boater insurance: This can cover your property damage and medical costs if you're involved in a boating accident caused by an uninsured or underinsured boater.

An Alaska independent insurance agent can recommend the exact types of coverage you'd benefit from the most when building your boat insurance policy.

Is Boat Insurance Required in Alaska?

Alaska doesn't require boaters to have boat insurance by law. However, you might be required to have coverage if you dock your boat at a marina or finance your watercraft. 

In any case, it can be a wise decision to get boat insurance to help you recover from potentially hefty losses related to disasters such as lawsuits, collisions, and more. If you own any of the following, you might want to consider getting boat insurance:

• Yachts
• Kayaks and canoes
• Speedboats or motorboats
• Cabin cruiser boats
• Bass boats
• Fishing boats
• Houseboats
• Sailboats

With a boat insurance policy, you can enjoy using your watercraft with the understanding that your coverage can help reimburse you for various hazards both on and off the water.

Save on Boat Insurance

Our independent agents shop around to find you the best coverage.

Request a quote

What Boat Insurance in Alaska Will Not Cover

Alaska boat insurance comes with a certain number of exclusions to be aware of. Though your specific policy's exclusions may vary, in general, you shouldn't expect boat insurance to cover any of the following:

• Mold damage to your boat or equipment
• Damage to your boat or equipment caused by marine life, insects, or animals
• Incidents caused by faulty machinery (unless your policy includes mechanical malfunction coverage)
• Damage to your boat's trailer
• Normal wear and tear damage to your boat
• Gradual weathering damage to your boat

Understanding the exclusions listed in your boat insurance can help you better prepare for the types of damage, etc., to your vessel that won't be covered by your policy.

Average Cost of Boat Insurance in Alaska

Rates for boat insurance in Alaska are a bit higher than the national average, at about $527 per year. However, the cost of your specific policy can vary based on any or all of the following:

• The type, value, age, and engine size of the boat you have
• The amount and types of coverage you need
• Where your boat is stored
• Whether you've completed a boater safety course
• Your driving record and claims history, both on and off the water

Your specific boat insurance policy may be much cheaper or more expensive than the average rate in Alaska, depending on these and other factors. Your Alaska independent insurance agent can also help you compare rates for commercial fishing insurance or commercial fishing vessel insurance in your area.

What Boat Insurance Discounts Are Available in Alaska?

The boat insurance discounts offered can vary by the insurance company you go through. But in general, you can expect the following boat insurance discounts to be available from many carriers in Alaska: 

• Security discounts: Many boat insurance carriers offer an additional discount to boaters who protect their watercraft against theft, vandalism, etc., with security devices.
• Bundling discounts: If you bundle your boat insurance with other coverage, like home insurance or auto insurance, through the same carrier, you can often earn a discount on each policy.
• Boater safety course discounts: Completing an approved boater safety course can often earn you an extra discount on boat insurance.
• Affiliation discounts: You can earn boat insurance discounts through affiliations with various companies, groups, and organizations.
• Lay-up discounts: If you only use your boat during summer, you might qualify for an additional discount.
• Loyalty discounts: Continuing your coverage with the same boat insurance company for several years can earn you a discount over time.

Your Alaska independent insurance agent can help find all the boat insurance discounts you qualify for to save you the most money possible on coverage.

Popular Questions about Alaska Boat Insurance