How Much Does Boat Insurance Cost in Tennessee?
Tennessee pricing is below the national average. Updated for 2026.
Boat Insurance Pricing in Tennessee
In Tennessee, the average cost for boat insurance is $688 per year, which is 14% lower than the national average of $800. Most Tennessee residents pay between $172 and $2,580.
Tennessee benefits from a lower cost of living than many states, resulting in more affordable pricing for boat insurance. This makes it one of the more budget-friendly states for this service.
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).
Tennessee vs National Average
What Affects Boat Insurance Cost in Tennessee?
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
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💡 Tips to Save on Boat Insurance in Tennessee
- 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 in Tennessee Cost Trends (2020–2024)
Prices have increased +17.8% over the last 5 years
| Year | National Avg | YoY Change |
|---|---|---|
| 2020 | $584 | — |
| 2021 | $609 | +4.3% |
| 2022 | $649 | +6.6% |
| 2023 | $667 | +2.8% |
| 2024 | $688 | +3.1% |
Based on national averages adjusted for annual inflation. Actual costs vary by location and project scope.
💬 What Did You Pay?
Real costs reported by homeowners for Boat Insurance in Tennessee
Recent Reports
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 in Other States
Related Cost Guides for Tennessee
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