Maine Boat Insurance

Maine is home to over 6000 lakes and more than 3400 miles of coastline, a boater’s paradise. But before you hit the water, becoming familiar with your boat, its safety features, and the insurance coverages that you may want to consider are just a few of the important steps that you should take. The following article provides general information regarding insurance for your boat, the coverages you may be interested in, and how much insurance may cost for your boat in Maine.

view of pontoon docked at a lake

How much is Insurance for Your Boat in Maine?

Boat insurance costs and rates depend on a variety of factors. In addition to the type and amount of coverage(s) you select, the following non-exhaustive list will share some of the possible factors that can play into a boat insurance quote.

  • The year, make and model of your boat.

A more expensive, newer, and typically faster boat will tend to affect your policy more than an older vessel. Safety ratings and modifications may also affect your potential costs.

  • The state that you live in.

Each state has different laws and regulations that boaters must adhere to, and some of these rules can affect your quote. Additionally, some states experience vastly different weather throughout the year, providing some owners with longer or shorter boating seasons, which may impact rates.

  • Where will you be boating?

According to statistics from the U.S. Coast Guard, over 116,000 people registered a vessel in Maine, making many of our waterways busy places. Depending on where you plan to be boating, either inland or coastal, this too can affect your rates as each presents its own levels of liability and risks.

  • Your age, driving record, and in some cases profession.

Just as with car insurance, your individual background and driving history can alter how affordable or expensive the quote may be. Past accidents while operating any machinery, not just while operating boats, can also alter your rates.

  • Are you riding alone or with friends?

Having passengers accompany you, or alternatively riding solo, may either increase or decrease the liability at hand, which may impact rates.

Is Boat Insurance Required in Maine?

At this time boat insurance is not a requirement in Maine, and although this may be the case, there are numerous reasons to have it. For instance, if you plan to finance your boat, the lienholder may require you to carry insurance as a condition of your loan. As well, many marinas will require proof of insurance to keep your boat docked there. Boat insurance can also help to reduce your personal exposure in the event of a covered accident involving your boat.  Contact your local Cross Insurance to learn more information about boat insurance in Maine.

view of Maine coastline with variety of boats

Ways to Save on Boat Insurance in Maine

Here are some great ways to potentially save on boat insurance in Maine.

  • Ask about the possibility of a multi-policy discount, pairing your boat insurance with either auto insurance, life insurance, or home insurance.
  • Ask your insurance company about occupational discounts.
  • Pay your bill in full versus monthly payments.
  • Ask your local Cross Insurance agent if there is a discount for taking boater safety courses.
  • Upgrade the safety gear on your boat such as life jackets, flotation devices, fire extinguishers, and first aid kits.

Another great way to potentially save is comparing multiple quotes. While many websites may show an average price for an insurance company, what you may pay could be dramatically different. Requesting a quote for your boat insurance is a great place to start when it comes to comparing coverages and saving. Reach out to one of our local offices to start the process today.

What does Boat Insurance Cover?

If you are looking into getting insurance for your boat, then one of the most important things to research is what is covered under a potential policy. The following list outlines some of the common coverages associated with boat insurance.

Bodily Injury Liability – In the event there is an accident associated with the negligent use of your boat that leads to an injury or death of another, liability coverage can help pay some of the medical expenses for the injured person, up to coverage limits.

Collision Coverage – If you are involved in an accident, collision coverage can help with costs to repair your boat. Collision coverage is typically optional, although it is recommended that boat owners consider the value of their boat, how often they may use it, and other relevant factors to determine if this coverage is a justifiable investment.

Comprehensive Coverage – Comprehensive coverage, like collision, can help cover expenses when damage occurs to your boat. The difference between these two coverages is collision helps when damage occurs from an accident with another boat or personal watercraft, while comprehensive helps cover expenses when a loss is experienced due to theft, vandalism, fire, and damage caused by certain weather-related events.

Property Damage – If damage is inflicted to another individual’s boat, trailer, dock, camp, or other personal belongings due an accident involving the negligent use of your boat, this coverage can help pay for that property damage, up to coverage limits.

Uninsured & Underinsured Boater – When an uninsured or underinsured boater negligently causes an accident with you, this coverage can help compensate you for your medical expenses and pain and suffering, up to coverage limits.

close up of boats interior

Boat Classifications

Just as other watercrafts and some commercial vehicles, boats are identified in a variety of classes by their size. Boats, and other vessels, require certain equipment and safety measures depending on the class they are in according to federal and state boating laws. Boats are generally classified into four main groups, all based on their length in feet from bow to stern, not including components such as the engine, ladder, or any other attachments.

Class A: 16 feet or less

Class 1: 16-26 feet

Class 2: 26-40 feet

Class 3: 40-65 feet



This article is for general informational purposes only and is not to be relied upon or used for any particular purpose. Cross Insurance shall not be held responsible in any way for, and specifically disclaims any liability arising out of or in any way connected to, reliance on or use of any of the information contained in this article. The information contained or referenced in this article is not intended to constitute and should not be considered legal, insurance, accounting or other professional advice, nor shall it serve as a substitute for the recipient obtaining such advice. The views expressed in this article are that of its author and do not necessarily represent the views of Cross Financial Corp. and its subsidiaries and affiliates (“Cross Insurance”) or Cross Insurance’s management or shareholders.


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