Boat Insurance

Did you know that boat insurance is one of the earliest known forms of insurance?

According to Rod Johnson, director of marine risk management at RSA Global Risk, the first formal recognized marine insurance was coverage for ship’s cargo, dating back to 1350. Ancient sailors knew firsthand about the risks of a life at sea and sought to insure their boats and cargo against hurricanes and other unpredictable weather and waters. While this type of policy serviced commercial cargo ships, this was the first step towards modern day boat insurance.

Today, personal boat insurance policies are much more complex then their ancestors, offering a variety of coverages for your boat itself as well as your equipment/property on the boat, your passengers, and more. These policies can vary widely in what they cover based on a number of considerations, including the type of boat, the waters it will traffic, and how many months of the year the boat will be used.

With Spring around the corner, some of you may have your sights set on purchasing your first boat.... stay tuned next Wednesday, for a deeper dive into personal boat insurance!

This article provides generic information only, for specific coverage questions on your policy please contact your Bouvier Agent at 860.232.4491 or www.binsurance.com.