How Much Does Boat Insurance Cost?
Updated for 2026 — national average costs with state-by-state breakdowns
What Does Boat Insurance Include?
Boat insurance covers damage to your watercraft, liability for injuries, towing, fuel spill liability, and personal property on board. Coverage types include agreed value (full replacement) and actual cash value (depreciated value).
The national average cost for boat insurance is $800 per year. Most homeowners pay between $200 and $3,000, though costs can vary significantly based on your location, the scope of work, and other factors outlined below.
What Affects the Price?
Boat Type
Personal watercraft (jet ski): $200-$500/year. Fishing boat: $300-$800. Pontoon: $300-$700. Cabin cruiser: $500-$2,000. Yacht (40'+): $2,000-$10,000+
Value
Roughly 1-3% of the boat's value annually. $20,000 boat: $200-$600/year. $100,000 boat: $1,000-$3,000/year
Location
Inland/lake: lower rates. Coastal saltwater: 20-40% more. Hurricane zone: significant surcharges
Key Cost Factors
- ✓Boat type and size
- ✓Boat value
- ✓Navigation area
- ✓Experience/boating courses
- ✓Coverage type (agreed vs actual value)
- ✓Deductible amount
- ✓Storage method
💡 Tips to Save Money
- 1.Complete a US Coast Guard or state boating safety course for 5-15% discount
- 2.Agreed value policies cost more but pay the full insured amount without depreciation
- 3.Higher deductibles ($1,000-$2,500) save 15-25% on premiums
- 4.Bundle with auto/home insurance for 10-20% multi-policy discount
📈 Boat Insurance Cost Trends (2020–2024)
Prices have increased +17.8% over the last 5 years
| Year | National Avg | YoY Change |
|---|---|---|
| 2020 | $679 | — |
| 2021 | $708 | +4.3% |
| 2022 | $754 | +6.5% |
| 2023 | $775 | +2.8% |
| 2024 | $800 | +3.2% |
Based on national averages adjusted for annual inflation. Actual costs vary by location and project scope.
Boat Insurance Cost by State
Costs vary significantly by state due to labor rates, cost of living, and local market conditions. Click any state for a detailed breakdown.
| State | Low | Average | High |
|---|---|---|---|
| Alabama | $164 | $656 | $2,460 |
| Alaska | $256 | $1,024 | $3,840 |
| Arizona | $190 | $760 | $2,850 |
| Arkansas | $160 | $640 | $2,400 |
| California | $270 | $1,080 | $4,050 |
| Colorado | $216 | $864 | $3,240 |
| Connecticut | $244 | $976 | $3,660 |
| Delaware | $210 | $840 | $3,150 |
| Florida | $196 | $784 | $2,940 |
| Georgia | $180 | $720 | $2,700 |
| Hawaii | $284 | $1,136 | $4,260 |
| Idaho | $184 | $736 | $2,760 |
| Illinois | $210 | $840 | $3,150 |
| Indiana | $176 | $704 | $2,640 |
| Iowa | $172 | $688 | $2,580 |
| Kansas | $170 | $680 | $2,550 |
| Kentucky | $168 | $672 | $2,520 |
| Louisiana | $174 | $696 | $2,610 |
| Maine | $204 | $816 | $3,060 |
| Maryland | $230 | $920 | $3,450 |
| Massachusetts | $260 | $1,040 | $3,900 |
| Michigan | $184 | $736 | $2,760 |
| Minnesota | $204 | $816 | $3,060 |
| Mississippi | $156 | $624 | $2,340 |
| Missouri | $174 | $696 | $2,610 |
| Montana | $190 | $760 | $2,850 |
| Nebraska | $176 | $704 | $2,640 |
| Nevada | $204 | $816 | $3,060 |
| New Hampshire | $224 | $896 | $3,360 |
| New Jersey | $250 | $1,000 | $3,750 |
| New Mexico | $180 | $720 | $2,700 |
| New York | $264 | $1,056 | $3,960 |
| North Carolina | $180 | $720 | $2,700 |
| North Dakota | $180 | $720 | $2,700 |
| Ohio | $180 | $720 | $2,700 |
| Oklahoma | $166 | $664 | $2,490 |
| Oregon | $220 | $880 | $3,300 |
| Pennsylvania | $204 | $816 | $3,060 |
| Rhode Island | $230 | $920 | $3,450 |
| South Carolina | $174 | $696 | $2,610 |
| South Dakota | $170 | $680 | $2,550 |
| Tennessee | $172 | $688 | $2,580 |
| Texas | $186 | $744 | $2,790 |
| Utah | $190 | $760 | $2,850 |
| Vermont | $216 | $864 | $3,240 |
| Virginia | $210 | $840 | $3,150 |
| Washington | $230 | $920 | $3,450 |
| West Virginia | $160 | $640 | $2,400 |
| Wisconsin | $188 | $752 | $2,820 |
| Wyoming | $184 | $736 | $2,760 |
Frequently Asked Questions
Is boat insurance required?
No state requires boat insurance by law (unlike auto insurance). However, if you finance your boat, the lender will require it. Marinas often require liability insurance. Even without a requirement, it's strongly recommended — boat accidents can result in liability claims of $100,000+.
Does homeowners insurance cover my boat?
Most homeowner policies provide very limited boat coverage — typically $1,000-$1,500 for the boat and $500 for accessories. This is inadequate for most boats. A separate boat insurance policy is needed for proper coverage.
🏙️ Boat Insurance Cost by City
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