Is boat insurance required in Missouri? This is a common question among boat owners in the Show-Me State. While boat insurance is not legally required in Missouri, it is highly recommended for several reasons. In this article, we will explore the importance of boat insurance, the types available, and how it can protect you and your vessel in case of an accident or theft.
Boat insurance is designed to provide financial protection for your boat, as well as liability coverage in the event that you cause damage to another vessel or injury to a third party. In Missouri, the minimum liability coverage required by law is $25,000 for property damage and $50,000 for bodily injury per person, and $100,000 for bodily injury per accident. However, this minimum coverage may not be enough to cover the costs of repairs or legal fees if you are involved in a serious accident.
There are several types of boat insurance coverage to consider, including:
- Liability Insurance: This covers damages and injuries you may cause to others in an accident. It is the most basic form of boat insurance and is typically required if you finance your boat.
- Collision Insurance: This covers damages to your boat caused by collisions with other vessels, fixed objects, or even wildlife. It is optional but highly recommended, especially if your boat is new or valuable.
- Comprehensive Insurance: This covers damages to your boat caused by events other than collisions, such as theft, fire, or vandalism. It is also an optional coverage that can provide peace of mind.
- Uninsured/Underinsured Boater Coverage: This covers damages and injuries you may sustain in an accident caused by a boater who does not have insurance or has insufficient coverage.
Missouri’s boating season typically runs from May through September, and the state has over 11,000 miles of waterways, including rivers, lakes, and streams. With so many opportunities to enjoy the water, it’s important to be prepared for any situation that may arise. Boat insurance can help protect you from the financial burden of an accident or other unexpected events.
When shopping for boat insurance in Missouri, it’s essential to compare quotes from different insurance providers to find the best coverage at an affordable price. Be sure to ask about discounts, such as those for having multiple policies with the same insurer or for completing a boating safety course. By investing in boat insurance, you can ensure that you and your vessel are well-protected, allowing you to enjoy Missouri’s beautiful waterways with peace of mind.
