Connecticut boat watercraft insurance coverage

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Boat/Watercraft Insurance 

The State of Connecticut doesn’t require boat owners to get insurance, but getting at least some type of liability coverage may keep you protected from any potential losses that may come from an accident. If you’re planning to use your boat as collateral for a loan, the bank may require you to get an insurance policy and make them a payee on the policy in case something happens that will result in a loss.

Liability insurance for boats and other types of watercraft is widely available in the market, but the premiums may depend on numerous factors – some of which may include:

  • Amount of desired coverage
  • The boat’s location
  • The boat’s intended use
  • The size, age, and condition of the boat
  • The boat owner’s level of experience in operating the craft

A boat insurance policy can help you cover any bodily injury or property damage that resulted from an accident, but the specifics on what will be included will depend on what’s written in the policy.

Agreed Value vs. Actual Cash Value

A boat insurance policy will pay a claim based one of the following methods:


  • Agreed Value – Pays a specific indemnity amount upon which the insurer and insured agree
  • Actual Cash Value – Pays the actual value of a loss minus depreciation

Agreed value policies have higher premiums than actual cash value policies because they will cover a partial loss of the entire replacement value of the item. But an actual cash value policy may require the insured to pay for some of the losses out-of-pocket to make up for the difference.

A Qualified Boat Insurance Provider in the State of Connecticut & Massachusetts

If you’re looking for a qualified provider of boat insurance in Enfield, CT, Innosure Insurance has a team of agents who can help you get the right policy. We have been serving the area for a long time, and we have a reputation for providing quality service. If you want an agency that can help you take care of your insurance needs, feel free to contact the office of Innosure Insurance today!


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