When do I need Boat Insurance?

When the craft exceeds $1000 value under a homeowners policy you should obtain boat insurance. Liability coverage under a homeowners covers the boat UNLESS: 1) it has inboard or inboard-outboard exceeding 50 hp; 2) it is a sailing craft 26 feet or longer; 3) powered by one or more outboard motors with more than 25hp; it is an airboat or derivative; or 4)jet-propulsion type (jet ski).