How Much Does Pontoon Boat Insurance Cost?

Insurance premiums will obviously vary greatly based on the worth of your boat, your driving record, and demographics, among other factors. However, if you want a rough estimate of the prices, I can provide that information.

Costs of Pontoon Boat Insurance

(Quotes are for my 22′ pontoon, which cost $32,000 new and has been in service for one year.)

Comprehensive Insurance vs. Basic Insurance

  • Basic Liability Insurance pays $50,000 per person and $25,000 for property damage (doesn’t cover my boat, only damage I do to others). My estimated annual cost was $100 ($8.17 per month).
  • $100k per person and $50k for property damage under comprehensive insurance. Medical costs up to $5,000 regardless of culpability are included, as well as uninsured boaters. The deductible is $500. The price I mentioned was $334 ($29.13 per month).

The most of the insurance companies I called didn’t provide personal watercraft insurance, but I was able to receive a quick (and rather inexpensive) quotation from Allstate on their boating insurance page (click the link to get a quote in under 5 mins for your area and model of boat).

What Types of Pontoon Boat Insurance Are Recommend?

Personally, I believe that paying $23–35 a month for decent coverage on most pontoon boats under $40,000 is a small thing to pay. You should anticipate to spend a little extra if your pontoon boat is worth more than that.

The reality is that a lot can go wrong when boating, and you don’t want one terrible day on the water to cost you your home and put you in a financial bind for the rest of your life.

If your boat is so valuable that you can’t afford to replace it, you should consider comprehensive insurance. Many boaters, on the other hand, may be content with simply minimal insurance to ensure that an injury on their boat is covered. In my perspective, $100 per year is a very acceptable price.

2 Reasons Why Every Boater Should Insure

  • Boaters in several states are required to obtain personal watercraft insurance. Idaho, my home state, does not. It most likely should. Some states simply need a small amount of liability insurance, which may be purchased for as low as $8 per month in some cases. This isn’t ideal for more costly boats, but it could work for less expensive ones.
  • It’s simple to steal a boat! Trailer locks are extremely easy to dislodge (even the good ones). A thief only needs to hook your boat up to his hitch, unlock the lock, and drive off into the sunset. It’s doubtful that you’ll ever see the boat again.
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