Louisiana Boat Insurance
Get a full analysis of Louisiana boat insurance costs, coverage, and companies.
Written by
Ann Herro has been writing about insurance and employee benefits for over 15 years. She has covered topics as easy as insuring a car, and as difficult as transparency in healthcare costs.
Find the Best Boat Insurance Options in Louisiana
From solo fishing trips on beautiful Caddo Lake to waterskiing with friends out on the Cane River, boat owners in Louisiana have plenty of options. It is little wonder that so many residents of this vibrant state have invested in recreational boats.
Unfortunately, boating accidents sometimes happen. You can make sure that a family fun day at the lake doesn’t end up costing you by investing in an affordable boat insurance policy.
A local independent insurance agent can help you learn more about boat insurance in Louisiana and find you a policy that meets your needs and budget.
Best Boat Insurance Companies in Lousiana
How can you make the best choice for boat insurance in Louisiana?
We selected the following carriers as some of the best boat insurance companies in Louisiana. They are highly rated for their mix of valuable coverage offerings and competitive pricing.
- Progressive: Progressive is based in Ohio and offers personal insurance, including boat insurance. Louisiana residents can look to Progressive for most of their personal insurance needs.
- Safeco Insurance: Safeco has been protecting individuals and families with personal insurance coverage since 1923. With a comprehensive range of insurance coverage, including boat insurance, Safeco helps Louisiana boat owners protect what’s important.
- Foremost Insurance Company: Foremost was founded in 1952 and offers a wide range of coverage, including boat insurance, in 50 states.
An independent insurance agent in your area can help you learn more about these and other Louisiana boat insurance companies. A local agent can help you get competitive quotes for the coverage that fits your needs.
Louisiana Boat Insurance Requirements
You are not required by law to carry boat insurance in Louisiana. However, there are times when boat insurance might be required.
If you financed the purchase of your boat, your lender is likely to require you to have boat insurance until your loan is paid off. Also, if you dock your boat at a marina, having boat insurance might be a stipulation of your marina lease agreement.
Regardless of whether it is required, having boat insurance may be a good idea — particularly if your boat is very expensive or if you will be operating it at high speeds.
A local independent insurance agent can help you learn more about the requirements for boat insurance in Louisiana and can help you find a policy that fits your needs.
What Boat Insurance Covers in Louisiana
Boat insurance in Louisiana works much like car insurance. It covers bodily injury and property damage that you cause while you are operating your boat.
It can also cover physical damage to your boat and your property onside the boat, depending on the coverage you select. You can tailor your coverage depending on the type of boat you have, how and where you use it, and the types of items you keep onboard.
A basic Louisiana boat insurance policy provides you with liability coverage:
- Bodily injury liability coverage: Covers the medical costs associated with injuries sustained by other boaters or by guests and visitors while aboard if you’re at fault for an accident.
- Property damage liability coverage: Covers damage to other people’s property, such as docks, marinas, and other boats, if you’re at fault for an accident.
You can also obtain coverage for physical damage to your own watercraft:
- Collision coverage: Covers repairs to or replacement of your own boat, motor, trolling motor, or any permanent boating equipment due to damage caused by a collision with another boat or an object while on the water.
- Comprehensive coverage: Covers repairs to or replacement of your own boat, motor, trolling motor, or permanent boating equipment due to damage or loss caused by anything other than a collision, such as theft, vandalism, fire, or a storm.
Some additional coverage options include the following:
- Personal property coverage for equipment such as tools, life preservers, anchors, and oars
- Coverage for fishing equipment like rods, lures, nets, and tackle
- On-water towing and labor coverage for a disabled vessel
- Medical payments coverage for hospital and funeral expenses for you or your passengers
- Uninsured/underinsured boaters coverage for an accident with another boater with insufficient or no boat insurance
An independent insurance agent in Louisiana can help you determine which coverage types may be beneficial for your unique needs.
Average Cost of Boat Insurance in Louisiana
Different boats require different types of coverage, and the cost of boat insurance in Louisiana varies.
Your boat insurance premiums will be based on the coverage and deductibles you choose, as well as:
- How often you use your boat and your driving record
- Previous boat insurance claims
- Safety courses you have taken
- Horsepower of the boat
- Your age and gender
- The year, make, and model of the boat and motor
- Where you live and perhaps even your credit score
You may be eligible for certain discounts on your Louisiana boat insurance policy. Some insurers offer a layup discount, as well as a discount for successfully completing a boating safety course. What’s more, you will likely be eligible for a discount if you bundle your Louisiana boat insurance policy with your home and auto insurance.
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How to Find the Best Boat Insurance Quote in Louisiana
An independent insurance agent can help you find the best Louisiana boat insurance for your needs. A local agent can get quotes from multiple insurance companies to make sure you get the best coverage at the right price. Working with a local agent is the best way to get knowledgeable, superior service from someone who understands the needs of boat owners in your community.
Find an independent insurance agent in your area now.
Louisiana Boat Insurance FAQs
Most boat owners in Louisiana will benefit from boat insurance, even when it is not legally mandated. It simply makes sense if you want to protect yourself from the costs of boat-related accidents, and if you want to cover your investment in your boat.
If you’re at fault for a boat accident, you’ll be responsible for paying the medical bills for injured parties, and for paying to repair any damage that you do to other people’s property. Boat insurance provides liability coverage for these situations.
What’s more, boat insurance in Louisiana can cover damage to your boat if it’s damaged in a collision, vandalized, stolen, damaged by a storm, and more.
Boat insurance in Louisiana is optional unless you’re required by a lender to purchase it or if a marina or harbor where you dock your boat requires you to have it.
Boat insurance in Louisiana always includes liability coverage, which protects you when you cause injuries or property damage to another party. You can also add on the following types of optional coverage:
- Collision coverage
- Comprehensive coverage
- Personal property coverage
- Fishing equipment coverage
- On-water towing and labor coverage
- Medical payments coverage
- Uninsured/underinsured boaters coverage
Boat insurance is recommended for most watercraft with motors, including fishing boats, pontoon boats, speed boats, leisure crafts, and yachts. Boat insurance generally does not cover canoes, kayaks, or personal watercraft.
Every type of boat has the potential to be stolen, damaged, or involved in an incident that results in harm to another person or another person’s property. Even if your boat is docked or stored in your garage, it can be vandalized, damaged in a fire or storm, or stolen. Boat insurance can help you in all of these situations.
Several factors go into calculating boat insurance costs in Louisiana, so you can expect your rates to be different from other boat owners you know. Your boat insurance cost can be influenced by the following:
- The type (or types) of boat you are insuring (e.g., bass boat, sailboat, yacht, etc.)
- Your boat’s length and the size of its engine
- Where your boat will be stored when not in use (i.e., at your home, at a marina, etc.)
- Your driving record and claims history, both on and off the water
- The amount of coverage you desire
- The size of your deductible
You may be eligible for certain discounts on your Louisiana boat insurance policy. Your independent insurance agent can help you determine all of the discounts that you’re eligible for.
Progressive, Safeco, and Foremost Insurance Company are some of the best boat insurance companies in Louisiana. They are highly rated for offering broad coverage, top-notch customer service, and a variety of affordable options for boat owners.
A local independent insurance agent can help you find a competitively priced boat insurance policy that meets your needs. Independent agents aren’t tied down to one carrier. They can get quotes from multiple insurance companies so you can choose the Louisiana boat insurance policy that best fits your needs and budget.
An independent agent can also help you find other types of personal insurance, such as auto, home, or renters insurance.
https://www.valuepenguin.com/boat-insurance/is-boat-insurance-required