4 Benefits of Boat Insurance In Oklahoma

Often called a haven for water recreation, Oklahoma is known for its more than 200 lakes. If you are considering joining the thousands of Oklahomans who enjoy these waterways by boat or have already decided to purchase a boat, this post is for you. 

Our team is highlighting the top four benefits of boat insurance for Oklahoma boat owners, and we’re answering a handful of frequently asked questions about boat insurance and boat regulations in Oklahoma. 

If you’re looking forward to spending long summer days or breezy evenings on Oklahoma’s millions of acres of water, we hope you’ll read on and learn about boating insurance. Investing in a watercraft is a financial and lifestyle commitment, and protecting it should be a priority so you can enjoy the water worry-free. 

The Top 4 Reasons to Have Boat Insurance 

When you are considering a boat purchase, you may be calculating the cost of boat maintenance and storage. Don’t forget to get a quote for boat insurance when doing those calculations. Depending on where you live in the United States, boat insurance may not be required by law, but we do recommend it to all boat owners. 

The benefits definitely outweigh the reasonable cost of boat insurance. Here are our top four reasons you should have a boat insurance policy. 

1. Liability Coverage 

Boat liability coverage will protect you if you are legally responsible for an accident that results in injury or property damage. Accidents may include collisions with other boats, but the coverage also extends to damages involving docks, skiers, wakeboarders, swimmers, and others on the water. If you cause damage to a dock, that’s typically covered too. 

Boat liability coverage will typically cover bodily injury liability, medical expense coverage, property damage liability, and claim and defense expenses. Liability coverage can provide peace of mind that is invaluable. Accidents happen in life; when they do, liability coverage can protect you and your family. 

2. Damage Protection 

Physical damage coverage protects your boat when there is damage or loss due to various perils. Weather-related loss or damage is always a risk when you have a boat. Oklahoma’s wind, rain, lightning, hail, and other severe weather patterns can be unpredictable. Additionally, collisions, fire, theft, and vandalism are often covered by loss and protection damage as well. Debris cleanup and towing are usually included in coverage as well. 

When considering boat insurance, you should also consider the time your watercraft will be out of the water. It’s important to be insured in case of an incident, loss, or damage while the boat is stored or moved.   

3 . Coverage for Passengers 

It’s unlikely that you would drive passengers in your car without insurance, and we think the same consideration should also be taken for boats. As mentioned briefly in the liability coverage section above, it’s worth revisiting the importance of coverage for passengers in your boat or other boats on the lake. 

If you are in a collision that results in injury or a passenger is injured on your boat, boat insurance will protect you by providing coverage that will help pay for medical expenses, lost wages, and other costs resulting from the injuries sustained by the passengers.   

4. Theft Protection 

Most boat owners enjoy the lifestyle and relaxation of lake weekends or lakeside living. Your boat is probably an essential element. What would happen if you showed up at your dock, marina, or storage unit only to find your boat missing? 

Your property is protected if you have a boat insurance policy that includes theft protection (typically a comprehensive boat insurance policy). Theft is frustrating and disappointing, regardless of the situation. However, your damages and losses will be covered when you have coverage. 

There are so many more reasons to have boat insurance, but these four are some of the most important and convincing. No one wants to be unprepared and financially liable for thousands of dollars of repairs, purchasing a new boat after loss by theft, medical bills, funeral expenses, towing fees, or debris cleanup. 

Does Oklahoma Require Boat Insurance? 

In short, no. Oklahoma does not require boat insurance by law; however, most lenders will require boat insurance if you are getting a loan to finance your boat purchase. While it’s not required by law in Oklahoma, a policy is a low-cost, savvy way to care for your 

property, the passengers on your boat, and other individuals enjoying Oklahoma’s lakes. 

What Kinds of Boats Should Be Insured? 

If you own small, non-motorized watercraft like kayaks, canoes, and paddle boats, these typically don’t need to be insured for personal use. The following types of vessels should be insured for your protection, peace of mind, and the protection of others on Oklahoma’s waterways:  

  • Sailboats 
  • Bass boats or other fishing boats 
  • Speedboats 
  • Personal watercraft like jet skis, wave runners, sea-doos, etc. 
  • Pontoons 
  • Houseboats
  • Yachts 

Is Boat Insurance Expensive? 

Boat insurance can be very affordable. Whether you want liability coverage or comprehensive, most people consider the cost worthwhile. Reach out to our team today, and we will provide a custom quote based on the specifications and details of your watercraft. 

How Much Should I Expect To Pay For Boat Insurance? 

Nationally, the cost of boat insurance ranges widely, from $200-$500 annually on average. 

For those in the process of buying a boat, you can contact our team for a quote before you buy to determine the expected cost of insuring. Be prepared to give us a few details about the boat, and we can quickly provide an estimate and discuss the different policy options with you.  

What Can Change the Cost of Boat Insurance? 

As boat insurance policies are created, several characteristics and factors are taken into account. As our team prepares your boat insurance quote, we may ask about the following: 

  • Condition of the boat 
  • Type of boat or watercraft 
  • Boat’s motor and horsepower 
  • Boat’s age 
  • Intended use of the boat (fishing, wakeboarding, etc.) 
  • Your boating history
  • Frequency of use
  • Driving record 
  • Completion of a boating safety course 

If you bundle your auto, home, renters, boat, or other insurance policies through the Brian Kennedy team, discounts are available that also increase savings. Reach out to learn more about the different insurance policies we offer. 

What Will Boat Insurance Not Cover? 

Boat insurance policies do not cover typical wear and tear or general maintenance of your boat. Routine care and proper maintenance are your responsibility as the owner. Other non-covered damage includes weathering, deterioration, infestation or animal damage, insect damage, and issues caused by improper storage, mold, under-age, or improper operators. 

How Do I Find the Best Oklahoma Boat Insurance? 

The Brian Kennedy team has provided insurance to Oklahoma and Kansas residents for decades, and our customers know us for our reliability and trusted expertise. We would love to work with you to provide excellent coverage for your boat or watercraft. We know it is more than just insurance; it’s peace of mind and protection for your family. Get in touch today, and we’ll get you covered. 


111 SE Frank Phillips Blvd
Bartlesville, OK 74003