Vermont Boat Insurance

Find the Best Boat Insurance Rates & Companies in Vermont 

Known for its many mountains and lakes, Vermont has tons of opportunities for boaters to get out on the water. Whether you use your boat on Lake Champlain, the Green River Reservoir, or the Connecticut River, having boat insurance is a wise decision. Without this coverage, you might have to pay for the costs of repairs to your boat after collisions, vandalism, and other threats.

Luckily, a Vermont independent insurance agent can help you get equipped with all the boat insurance you need. Your agent will choose the ideal policy for your unique vessel and personal preferences. But until then, here's a deep dive into Vermont boat insurance requirements and more.

Best Boat Insurance Companies in Vermont

Many different carriers in Vermont sell boat insurance, but they're not all equal in terms of quality or cost. That's why we've put together a list of just a few of our top picks for the best boat insurance in Vermont for you. Start your coverage journey by comparing policies from these outstanding carriers:

1. Progressive: This insurer sells boat insurance and many other types of personal and business insurance. Progressive has an excellent financial strength rating from AM Best and offers year-round, 24/7/365 customer service.
2. Travelers: This insurer sells boat insurance and several other types of personal and business insurance. Travelers has superior AM Best and Better Business Bureau ratings and offers many boat insurance discounts.
3. Foremost: This insurer sells boat insurance and many other types of personal insurance products. Foremost has great AM Best and Better Business Bureau ratings and provides 24/7 claims reporting.

A Vermont independent insurance agent can shop and compare boat insurance quotes from these carriers and others that offer quality coverage in your town.

What Boat Insurance in Vermont Can Cover

You can build a boat insurance policy according to your personal needs and desires by choosing several types of coverage. In Vermont, many boat insurance carriers offer the following coverage options:

• Boating liability insurance: This covers lawsuit costs arising from third-party claims of bodily injury or personal property damage.
• Personal effects insurance: This covers expenses related to repairs or replacements for personal items like scuba gear, fishing gear, and water skis, that get damaged, lost, stolen, or destroyed.
• Towing insurance: This covers towing expenses if your boat breaks down on the water due to mechanical failure, etc.
• Comprehensive insurance: Pays for damage to your boat due to a non-collision event such as a flood or theft. 
• Equipment insurance: This covers expenses related to repairs or replacements for equipment or accessories not originally installed by the manufacturer, such as GPS units, boat hoists, and more, that get damaged, lost, stolen, or destroyed.
• Medical payments insurance: This covers medical treatments for yourself or your passengers after a boating collision, regardless of fault.
• Fuel spill/wreckage cleanup insurance: This covers wreckage and pollutant clean-up expenses if you cause a collision on the water.
• Collision insurance: Pays for damage to your boat from a collision with another object, regardless of fault.
• Uninsured/underinsured boater insurance: This covers costs related to property damage and medical treatments in case of a collision with a boater who doesn't carry adequate insurance to reimburse you.

A Vermont independent insurance agent can recommend each type of coverage that would benefit you the most.

Is Boat Insurance Required in Vermont?

Vermont doesn't mandate boat insurance by state law. However, many boaters still choose to get coverage so they can get reimbursed for lawsuits, vandalism, theft, collisions, and numerous other hazards. So, you might decide to get boat insurance if you own any of the following types of watercraft:

Often, you'll find that marinas require boaters to have boat insurance before they can dock there. Additionally, many boat financing lenders require applicants to have boat insurance before they're approved.

What Boat Insurance in Vermont Will Not Cover

Boat insurance in Vermont comes with its own set of coverage exclusions, as does any other type of policy. Don't expect your boat insurance to cover any of the following:

• Boat trailer damage, destruction, or loss
• Watercraft mold damage
• Watercraft wear and tear over time
• Malicious or intentional acts to third parties or their property
• Watercraft damage caused by animals, insects, or marine life
• Watercraft damage, loss, or destruction due to faulty or defective machinery

If you purchased an endorsement on your boat insurance policy, you might have coverage against disasters caused by faulty or defective machinery. Make sure to review your specific boat insurance policy's list of coverage exclusions.

Average Cost of Boat Insurance in Vermont

Vermont boat insurance tends to be highly affordable for many boaters at an average rate of just $263 per year. However, the cost of your boat insurance might differ based on the following criteria:

• Your prior boat insurance claims
• The types and amounts of coverage you select
• The specs of your watercraft, including its make and model
• Your personal boating history
• Your exact location
• Where your watercraft is stored while not in use
• The engine size and length of your watercraft

Many different factors can lead to an increased cost of boat insurance, including having filed numerous boat insurance claims in the past. 

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What Boat Insurance Discounts Are Available in Vermont?

There are ways to reduce the cost of boat insurance in Vermont even further, such as through various available discounts. The discounts offered will vary by insurer, but in Vermont, here are some of the most common:

• Affiliation discounts: Being affiliated with various groups and organizations can lead to boat insurance discounts.
• Loyalty discounts: Continuing your coverage with the same boat insurance carrier for a specific number of years can earn you a discount after a while.
• Boater safety course discounts: Completing a state-approved boater safety course can earn you a boat insurance discount.
• Security discounts: Protecting your watercraft against theft, vandalism, etc., with security devices, can earn you a discount.
• Lay-up discounts: Using your boat only during the summer months might earn you a boat insurance discount.
• Bundling discounts: Bundling boat insurance with home insurance, auto insurance, or another type of coverage through the same carrier can earn you discounts on each policy.

A Vermont independent insurance agent can help you save the most money possible on your boat insurance by applying any discounts you qualify for to your policy.

Popular Questions about Vermont Boat Insurance