Emergency After-Hours: 330-527-5854

Boat Insurance

Ellerhorst Russell Insurance Agency will work with you closely to understand your needs and make sure you have the personal insurance coverage you need.

We know the ins and outs of insurance.

Boat & Watercraft Insurance

If you’re a boating enthusiast, you know the freedom and joy of cruising on the open water. However, like vehicles, accidents can happen. That’s why boat and watercraft insurance is vital to protect your vessel, passengers, and yourself. Therefore, hoist the sails, and let’s navigate the world of boat insurance together.

What Is Boat Insurance?

If you’re a boating enthusiast, you know the freedom and joy of cruising on the open water. However, like vehicles, accidents can happen. That’s why boat and watercraft insurance is vital to protect your vessel, passengers, and yourself. Therefore, hoist the sails, and let’s navigate the world of boat insurance together.

Ohio Boat Insurance Requirements

This exhilarating image captures the joy of sailing, with a man on a sailboat tending to the lines and smiling with the wind in his hair. The blue dodger and bimini add a touch of color to the scene, while another man on the port side looks ahead with a smile. The image conveys a sense of freedom and adventure, highlighting the importance of having reliable boat insurance to protect against unexpected events on the water. With comprehensive coverage, boaters can fully enjoy the thrills of sailing, knowing that they are protected from potential financial loss in the event of an accident or other unforeseen circumstances.

In the state of Ohio, all boats (motorized and non-motorized) should be insured. Boat insurance helps protect boat owners financially if their boat is damaged or stolen while out on the water.

If you are planning on operating a boat in Ohio, you should also be aware of the state’s boat operating laws. In order to operate a boat in Ohio, you must pass a proficiency examination. This must be approved by the Ohio Division of Watercraft unless you possess a valid merchant mariner credential issued by the US Coast Guard with at least one endorsement from the master. However, if you are exempt, carry onboard documentation of these credentials and present them to a law enforcement officer upon request.

This dynamic image showcases the excitement of fishing on a boat as it hits a wave and catches air at high speed. The blue sky provides a stunning backdrop as the fishing rods on the roof of the boat add a touch of detail. The spray from the boat hitting the wave creates a sense of motion and drama, emphasizing the importance of having comprehensive boat insurance to protect against unexpected accidents while enjoying the thrill of the water. Whether fishing or engaging in other water sports, having reliable coverage is essential for peace of mind and financial protection.

How Much Does Boat Insurance Cost

According to Progressive Insurance, boat insurance costs in Ohio are among the most affordable in the country. This is because of the state’s shorter boating season due to harsh winters.

However, the cost of boat insurance in Ohio and elsewhere depends on several factors, with no exemption for the type of coverage chosen. The average cost of a boat insurance policy in Ohio is not mentioned specifically, but the average annual policy cost for low-cost states (like Ohio) is $263.

Therefore, it is vital to note that different insurance companies offer different rates and coverage options. The cost of boat insurance can vary based on factors such as;

 

  • The type of boat
  • Its value
  • The boater’s experience
  • Claims history
  • Storage location
  • Coverage limits
This dynamic image showcases the excitement of fishing on a boat as it hits a wave and catches air at high speed. The blue sky provides a stunning backdrop as the fishing rods on the roof of the boat add a touch of detail. The spray from the boat hitting the wave creates a sense of motion and drama, emphasizing the importance of having comprehensive boat insurance to protect against unexpected accidents while enjoying the thrill of the water. Whether fishing or engaging in other water sports, having reliable coverage is essential for peace of mind and financial protection.

Putting Our Customers First

Serving The Community Since 1915.

Owning a boat brings with it a freedom that only being on the water can provide. Let Ellerhorst Russell Insurance help you protect that freedom.

Our Local agents will work with you to discuss your needs and find the coverages that are right for you. With various discounts available, you can have the protection you deserve for a price you can afford. Don’t trust just anyone to protect your boat!

Choosing the Right Boat Insurance Policy

Steps you need to take when purchasing the right policy

Choosing the right boat insurance policy is a vital decision to provide valuable protection for your vessel and financial well-being. In order to ensure you get the best coverage, there are a few critical steps you should take.

Evaluate Your Specific Needs

Evaluating your specific needs is vital to determining what kind of coverage you need. How much insurance you require, and what exclusions or limitations should you be aware of? Factors such as the type of boat, its value, how you use it, and where you store it should all be considered when evaluating your needs. For instance, those who own a high-value boat or yacht, may need more comprehensive coverage, while if you only use it occasionally, you may get by with less coverage.

Compare Policies from Multiple Insurers

Once you have a good understanding of your coverage needs, make a comparison with other boat policy insurers. By doing so, you can compare coverage, exclusions, and premiums provided by different carriers.

Therefore, you can choose the policy that meets your needs. It’s vital to note that the cheapest policy may not always be the best option. This means it may not provide adequate coverage or have high deductibles.

When comparing policies, look for an insurance company with a good reputation and financial stability, as this will give you peace of mind. You will know your policy provider will be able to pay out in the event of a claim. In addition, consider the level of customer service offered by the provider, such as the availability of support and claim processing.

On top of that, a reputable firm shouldn’t be providing only one policy. Therefore, check for other different lines of policies offered by the company, for instance, RV insurance, for maximum comparison.

The best way to do it is by checking the rating using agencies such as Defaqto or Trustpilot. These ratings are found on each insurer’s website or by searching online using the name of the insurer followed by “Trustpilot review” or “Defaqto star rating.”

Check for Exclusions

Boats are expensive and irreplaceable; therefore, it’s vital for your coverage to be comprehensive and cover every aspect of your vessel. However, some policies may exclude certain features from coverage or place limits on how much they’ll pay. For instance, suppose your engine isn’t covered by the policy because it’s an aftermarket part; it could leave you with no way to fix or replace it if something goes wrong.

Consider deductibles

Deductibles are one-way insurers charge less for their policies. The more money you pay upfront before they start paying out claims, the lower their premiums will be. However, they can also increase your risk of having to pay out-of-pocket if something happens to your boat. Make sure choosing a higher deductible won’t come back to bite you down the road in case there’s a boating accident or loss of property.

Types of Boat Insurance Coverage

As a boat owner, you need to be aware of the different types of boat insurance coverage and what they cover.

List Of The Top Boat Insurance Coverages

A middle-aged man on a green racing rowboat staring at the horizon with the sun setting in the distance. The calm blue water reflects the boat and the sky above.

Agreed Value Loss Settlement

The agreed value loss settlement is a type of policy covering your boat based on the agreed value, not its market value. This means if you want to increase your coverage and add more items to your policy, you can do so without paying a higher premium. It’s vital to note that agreed value coverage does not cover any items that are not specific to your boat.
A middle-aged man on a green racing rowboat staring at the horizon with the sun setting in the distance. The calm blue water reflects the boat and the sky above.
A close-up image on a boat insurance page shows various fishing rods with different gear and hooks rigged on an overhead rack. The rods have different colors and lengths, and some have reels attached to them. The hooks are of various sizes, shapes, and colors, and the line is visible in some of the reels. The overhead rack is mounted above a boat deck, and the image has a blurred background of blue sky and water.

Boat Equipment

This cover protects against theft or damage to any equipment permanently attached to your vessel. For instance, things like electronics, navigation and fishing equipment, as well as appliances like refrigerators and stoves.

You should be sure to review this coverage carefully because it may not include some items, such as windlasses or dinghies, that are part of your boat but not permanently attached.

A man wearing a white t-shirt and sunglasses is driving a power boat. The dashboard displays navigation equipment and electronics.

Watercraft Liability

Liability coverage protects you from lawsuits filed against you in the event your boat causes damage to someone else’s property or person. For instance, suppose your boat collides with another vessel or strikes a dock (causing damage to the other vessel or dock); this coverage would reimburse you for the cost of repairing any damage done to the other vessel or dock. Medical payments coverage cover you incase someone gets hurt. This coverage goes toward the medical payments of the injured person.
A man wearing a white t-shirt and sunglasses is driving a power boat. The dashboard displays navigation equipment and electronics.
A peaceful scene of boats moored at their slips in a marina. There are various types of boats, including power boats and sailboats. The water is calm and glistening under the warm sun.

Property of Others

This type of boat insurance coverage protects you from financial loss if you damage another person’s property while on the water. For example, suppose your boat strikes a dock and causes it to collapse; the dock owner could file a lawsuit against you for the property damage replacement costs. This insurance would help pay for those expenses.
A tow boat with safety equipment on board heading towards a stranded boat, the tow boat is white and black, and the water is blue.

Emergency Towing

This policy helps pay for the costs associated with getting your boat back when it breaks down or gets stranded away from home port. This comprises things like gas and oil needed to get back home. In addition, it may include tow fees charged by a local marina or marine service company.
A tow boat with safety equipment on board heading towards a stranded boat, the tow boat is white and black, and the water is blue.
Alt description for image: A sailboat is stranded on rocky shore with its sails torn and mast broken, the boat appears to have been severely damaged. The ocean and sky are blue in the background.

Boat Recovery Expense

This pays for the costs associated with rescuing your vessel, suppose it were to sink in open water and require assistance from outside sources (Coast Guard). The expenses may include fuel used to locate and retrieve your vessel and any repairs needed before it can return home safely.
If you’re looking for the best insurance coverage in town, look no further than Ellerhorst Russell Insurance Agency! We’re one of the top Ohio boat and watercraft insurance agencies providing personalized insurance plans tailored to your specific needs. With years of experience in the insurance industry, our knowledgeable staff will help you navigate the often complicated process of obtaining the right insurance coverage for your vessel. Whether you’re looking for coverage for your speedboat, sailboat, fishing boat, pontoon boat, or jet ski, Ellerhorst Russell Insurance Agency has got you covered. Please don’t hesitate to get in touch with us and start protecting your investment today!

Responsive Team

When the sandbar comes out of nowhere, We are there to answer the call. We know you have been boating over that spot your whole life.
picture of a power boat
Attractive strong woman sailing with her sail boat

Experienced Agents

65+ years insurance experience,
Plus a lifetime of boating.
We have the knowledge to make sure that you are
covered bow to stern

Dedicated Members

Finding the perfect coverage is like finding that perfect cove.
The custom protection you deserve for a price you can afford is what you should get out of your boat insurance
picture of a man driving a power boat
This is an image of the auto-owners insurance logo. Its is a navy blue color. Auto Owners if one of the carriers Ellerhorst Russell Insurance has to offer.

How Do I Get A Quote?

Ellerhorst Russell Insurance Agency will work with you closely to understand your needs and make sure you’re properly protected.

Frequently Asked Boat Insurance Questions

Yes! Like any other type of insurance, boat insurance provides peace of mind and financial protection in case of an accident or damage to your vessel. Many marinas and lenders may require you to have boat insurance before you can dock or finance a boat.
In Ohio, boat owners are not legally required to carry insurance on their vessels. However, it is highly recommended you obtain boat insurance for protection in case of an accident or damage.
The average deductible for boat insurance varies depending on the policy and coverage; the deductibles for boat insurance range from $250 to $1,000 or more.
Boat insurance is also similar to watercraft insurance or marine insurance. These insurance policies provide coverage for boats, yachts, personal watercraft, and other types of watercraft.
Just like boats, personal watercraft insurance is a great way to stay protected on the water and bring peace of mind.
Absolutely, and it’s a great way to save! Boat insurance can be bundled with your homeowners insurance, or auto insurance for increased savings.

Contact Us

Emergency
After-Hours