Adding a second boat to your collection is an exciting milestone, whether it’s a fishing boat, sailboat, or personal watercraft. Before you take it out on the water, it’s crucial to understand how insurance works for multiple watercraft.

Each Boat Requires Its Own Policy or Listing

Watercraft insurance isn’t one-size-fits-all. Having a policy for your first boat doesn’t automatically mean your second boat is covered. Each vessel typically needs to be listed individually on your policy or insured under a separate one. Factors such as the type, size, horsepower, and intended use of the second boat will influence how it’s insured and the associated costs.

Discuss Coverage Options with Your Insurance Agent

When insuring a second boat, you typically have the option to choose between agreed value and actual cash value policies. Agreed value policies pay a predetermined amount in the event of a total loss, while actual cash value policies account for depreciation. Additionally, you’ll want to explore coverage options for liability, collision, comprehensive, uninsured boater, and towing—especially if your second boat is used differently than your first.

Consider Multi-Boat Policies

Some insurance providers offer incentives for insuring multiple boats under the same policy. This can simplify managing payments and coverage, making it more convenient to protect your watercraft. At Insurance Protection Specialists, we’re here to help you find the best insurance solutions for your boats.

Insurance Protection Specialists: Serving Flowood, MS

If you’re looking for watercraft insurance in Flowood, MS, our team is ready to assist. Contact Insurance Protection Specialists today to learn more and schedule an appointment with one of our insurance professionals.