Boat Insurance

With access to the Great Lakes and surrounding waterways, Michigan is home to many boaters. Whether you enjoy sailing, fishing, or just being out on the water, Heritage Wise Group can help you select a boat insurance policy that meets the needs of you and your boat. A quality boat insurance policy will give you peace of mind so that you can relax and enjoy your time on the water.

While boat insurance is not required in Michigan, there are many risks you face while operating a boat. Boating accidents can occur at any time, damaging your boat or another person’s boat, and causing injuries to your passengers or other parties. Boat insurance typically provides liability protection in the event you are responsible for an accident as well as coverage for damage caused to your own boat. We offer boat insurance for many different boats including power boats, sail boats, houseboats, and fishing boats.

Many people believe that their homeowners insurance policy will cover their boats. Some homeowner’s policies will occasionally offer some level of coverage however restrictions are placed on boat size and the coverage is generally insufficient. If you do not have a boat insurance policy specifically tailored to your boat, it will most likely be underinsured. Fortunately, boat insurance is inexpensive and will offer the coverage needed to protect you and your boat.

Boat Insurance typically covers:

  • Damage to your boat including the sails, hull, machinery, motor, and trailer
  • New boat replacement
  • Medical payments
  • Wreck removal
  • Damage to other boats and property
  • Bodily injury to another person
  • Fuel spill liability

Boat insurance can be customized to meet the varying needs of Michigan boat owners. Optional coverage you may wish add includes coverage for personal property, coverage for fishing equipment, uninsured boater protection, and towing options both on and off the water.

Any boat that is greater than 26 feet in length will generally be classified as a yacht. Yachts tend to have larger navigational ranges than smaller recreational boats and therefore can face a greater number of hazards and dangers while out on the water. With added risks, yachts tend to have a more complex and detailed policy structure than what you might find on smaller boat policies. Heritage Wise Group will be happy to answer any questions you have regarding the differences between yacht insurance and a typical boat insurance policy.   

Boat insurance is generally inexpensive, but you can save even more money through various policy discounts that are available. You may qualify for a discount on your boat insurance policy if you own your own home, pay your yearly premium in advance, or have completed a boat safety course. If you are located in Saginaw, Bay City, Midland, or the surrounding areas, contact one of our agents today to see how we can help you save money on your boat insurance policy!