A homeowners insurance policy may have some coverage for your watercraft but it is very, very minimal. A typical homeowners policy may pay up to $1,000- $1,500 to repair damage to your boat, but that damage has to occur while the boat is at your home. In addition, there may be some liability coverage, but it depends on the size of your engine — normally only outboard engines of 25 hp or less.
You could gamble not buying insurance for your watercraft, but that’s a big gamble. You’re not only risking losing or severely damaging the boat in an accident, but possibly your other assets if your boat causes damage and/or injuries to other boats and/or boaters.
Summer’s just around the corner so make sure you’re appropriately covered!