Is Boat Insurance Required In Tennessee?

Although boat insurance is not required by Tennessee law, it is a good idea to get it anyhow. For example, collision coverage, property damage liability, bodily injury liability, and protection against vandalism, theft, and non-crash damages can all be included in a boat insurance policy.

Is it illegal to not have boat insurance?

Are you ready to have a good time in the sun? Make sure you’re not breaking any local boating rules before you take your new boat, jet ski, or personal watercraft (PWC) out on the water. While certain laws are self-evident, there are also highly precise restrictions for PWCs and boats.

Is it necessary to have boat insurance if I’m only riding a jet ski? Is there a distinction between that and insurance for jet skis?

First and foremost, check to determine if you’ll need to register your boat. California mandates that your PWC or boat be registered at the DMV if it is greater than 8 feet in length. There are a few exceptions:

  • Sailboats with a length of 8 feet that are not propelled (most jet skis, wave runners)
  • Currently registered vessels in another state (if used primarily outside California)

Although you are not required to have boat insurance or a boater’s license in California, there is a minimum age requirement to drive certain water vehicles, akin to driving a car.

  • If you have an adult on board who is at least 18 years old, you can operate any motorboat with more than 15 horsepower or sailboats over 30 feet if you are between the ages of 12 and 15.
  • All children under the age of 13 must wear a life jacket when on board a boat or watercraft that is 26 feet or less in length, including PWCs, according to California state law.
  • A life jacket is required for anyone riding a jet ski, wave runner, or other personal watercraft (PWC) that is being towed behind a vessel.
  • Make sure you have enough life jackets for everyone on board a boat, and that they’re easily accessible.

While boat or jet ski insurance is not needed by law, it is highly recommended because they carry a certain amount of risk. Jet ski insurance (also known as PWC insurance) provides coverage equivalent to that of a car in the event of a collision or damage to the vehicle, yourself, or others:

All PWCs must be fitted with a lanyard cutoff switch that is connected/attached to the person operating the vehicle, according to one PWC-specific regulatory requirement. The laws governing PWC and boat operation are primarily concerned with passenger safety, as well as the safety of bystanders:

  • It is prohibited to operate a boat while under the influence of alcohol or narcotics.
  • If you’re within 100 feet of a swimmer or 200 feet of a coastline, swimming float, diving platform, or landing, slow down to 5 mph.

You won’t have to worry about speed limits on your PWC or boat for the most part. However, in locations where speed limits are posted, be sure to follow all signs. There may be county or city-specific rules in addition to state ones, so be sure to educate yourself with these.

To operate a boat, jet ski, or other personal watercraft (PWC), what equipment do I need?

If you’ll be operating a PWC or will be transporting passengers, it’s a good idea to look into getting boat or jet ski insurance estimates. In the event of an accident, the coverage may help protect you from liability difficulties.

Do boat owners need insurance?

In most states, boaters are not required to acquire insurance for their vessels. However, if you want to use a slip or mooring, many marinas require proof of insurance. If you’re financing the purchase of a boat, your bank will also require insurance.

What is required to drive a boat in Tennessee?

  • Those under the age of 12 must be accompanied by a supervisor who is at least 18 years old and capable of taking immediate charge of the vessel. If the supervisor was born after January 1, 1989, he or she must additionally have a TWRA Boater Education Certificate.
  • Anyone operating alone who is 12 years old or older must have a TWRA-issued Boater Education Certificate.

What states require boat insurance?

Only two states have boat insurance laws at the moment: Arkansas and Utah. All motorboats with engines above 50 horsepower, as well as all personal watercraft (PWC), must be protected by a liability insurance policy in Arkansas. It is illegal to operate a PWC without the required insurance, which must give at least $50,000 in liability coverage.

When operating in Utah waters, all motorboats and personal watercraft must have owner’s or operator’s liability insurance. Airboats and motorboats with engines less than 50 horsepower are excluded. It is illegal to use a PWC without the necessary insurance on Utah waterways.

The following minimum coverage limits per incident are required by Utah’s boat insurance policy:

Check with your state marine board or alternative regulatory organization to determine if you are affected. Some states require insurance for boats used in state parks or kept in state-operated marinas.

Why is boat insurance so expensive?

Aside from where you live, other factors influence the cost of boat insurance, including:

  • Fishing boats, pontoon boats, sailboats, and other personal watercraft all have distinct features that can affect the price of your insurance.
  • The horsepower of the boat: Boats with more powerful motors, such as powerboats, have higher rates.
  • Insurance costs may be lower for more experienced boaters than for novice boaters with less expertise on the water.

How much is boat insurance on average?

The average cost of boat insurance is $200 to $500 per year, while insurance for a very large or costly boat (such as a yacht or sailboat) might cost 1–5% of the boat’s worth. For example, a $100,000 boat might cost around $2,500 per year to insure.

Boat insurance costs vary depending on you and your boat, just like other insurance rates.

Does boat insurance cover the trailer?

When dragging your boat to the water, it’s critical to know what your boat insurance covers and what it doesn’t. Physical damage to your boat trailer is covered by boat insurance, but liability coverage is not.

“Boat insurance never covers the liability of pulling a trailer,” explains Mike Pellerin, vice president of underwriting at BoatU.S. “This is always covered by car insurance. As a result, if you rear-end another vehicle or damage someone else’s property, your liability is usually related to your vehicle.”

Before attempting to transport a boat on the road, Pellerin encourages boaters to double-check that their auto insurance covers pulling a trailer. It is possible that additional coverage will be necessary.

Is boat insurance a good idea?

When it comes to determining average boat insurance premiums, the general rule of thumb is that you’ll spend roughly 1.5 percent of the value of your boat in annual rates.

A yacht valued roughly $20,000 would cost around $300 per year to fully insure.

If you own a $100,000 watercraft, you may expect to pay around $1,500 in insurance.

And the $2 million yacht will set you back roughly $30,000 every year. (I’m sorry, but multimillion-dollar yachts are prohibitively expensive to insure.)

However, those figures are only meant to serve as a guide because there are other factors that can affect the cost of your boat insurance, and don’t worry, many of them actually lower the amount you’ll pay for marine insurance.

Shop Around for the Best Boat Insurance

Most major house and auto insurance companies also offer boat insurance (often referred to as personal watercraft insurance).

Check with any insurance companies you currently have and see if they can supply you with additional coverage. If they can, they’ll want to keep your business in-house and may even give incentives!

Check out USAA, Progressive, State Farm, and other large suppliers in addition to your regular insurer.

What Factors Affect Average Boat Insurance Pricing?

There are numerous factors that might raise the cost of your boat insurance, but there are also numerous strategies to minimize your boat insurance costs.

Let’s take a look at some of the most prevalent factors that influence the cost of boat insurance.

Safety Record

The fewer years you go without a boating accident or citation, the lower your boat insurance premiums will be. Being a safe boater is also beneficial just for the sake of avoiding bodily injury and property damage.

Homeowner’s Discount

If you own a house, your boat insurance premiums may be reduced as a result of that asset. This could be included in a “bundle” offered by your insurance.

Even if you have house insurance with one company and boat insurance with another, the latter may regard your home ownership as a good basis to give reduced boat insurance prices.

Payments

It’s fine if you pay your boat insurance by the month or a few times a year; in fact, it’s quite common. You’ll likely get a cheaper rate if you pay for the entire year’s boat insurance in one flat sum.

Boat Age

In the same way that newer automobiles are more expensive to insurance, newer boats are usually more expensive to insure. There is one caveat, though.

Buying an old boat, contrary to popular belief, may not result in lower insurance prices. Many insurance providers may give you a lower premium if you insure a yacht that has only one owner. As a result, rather than replacing an older boat, it is generally more cost effective to preserve it and repair and update it as needed.

What Does Average Boat Insurance Cover?

And now we get to the most essential question of all: what exactly does boat insurance cover?

Take the time to personalize your boat insurance plan to meet your specific requirements. Consider what you and your family require in light of your unique circumstances. To get you started, here are a few of the items that most boaters consider to be very important and are covered by the average boat insurance policy:

Medical Costs

If someone is hurt in a boating accident that is determined to be your fault (or the fault of someone in charge of your boat), your boat insurance policy will most certainly pay a significant portion of the medical costs associated with the boating injuries.

This is also true if you or a passenger on your boat is injured in an accident caused by someone else. This is critical, particularly if the other parties involved made the unfortunate decision to forego boat insurance!

Liability Expenses

Regardless of whether medical bills were incurred as a result of a boating accident, legal fees are frequently incurred. If you don’t have adequate boat insurance coverage, they might be disastrous.

Property Damage

If your boat is involved in an event that results in property damage to another vessel, a pier or section of a marina, or even to itself, you’ll be glad you have boat insurance because the repairs or replacements will be covered by your insurer rather than your personal bank account.

Personal Effects

A decent boat insurance policy will help you replace or repair anything lost or destroyed while you’re boating, such as fishing gear, navigation hardware, and possibly even personal items like jewelry or a phone.

Look for Great Boat Insurance Rates Each Year

Once you’ve purchased a boat insurance coverage, don’t think you’re done with the procedure once you’ve made your payments.

Insurance firms run television and web ads all the time for a purpose. They want you to join them and change your plans.

Many insurance firms may entice you to switch to their brand by offering attractive rates and incentives, so look around from time to time.

By constantly choosing the best possible boat insurance plan, you might save thousands of dollars over time.

Does boat insurance cover hitting a log?

If you strike the rocks or any floating logs in the sea, your boat insurance will cover the damages. Collision coverage is included in most boat insurance policies, and it covers all damages caused by collisions with other boats, docks, piers, rocks, and logs, among other things.

Boat crash coverage includes hitting rocks, logs, or anything else while on the water. Because most regular insurance policies include collision coverage, you can file a claim if you crash with something in the water while boating.

This claim will only cover your boat damage; it will not cover any other boat damage, property damage, dock damage, or anything else.

Do you have to register a boat trailer in Tennessee?

The County Clerk will be in charge of collecting Tennessee State Sales Tax. For sales tax fees, call the office at 615-862-6266. The boat owner must mail form APPLICATION FOR BOAT CERTIFICATION NUMBER to the following address with the appropriate registration fees as noted on the form: Boat Registration P. O. Box 41729 Nashville, Tennessee 37204-1729 after paying the sales tax and the $7.00 certification fee to the Davidson County Clerk.

REGISTRATION AND LICENSE PLATE FOR BOAT TRAILER

Although the state of Tennessee does not require boat trailer owners to register or license their trailers, other states may. If the boat trailer will be going outside of Tennessee, it is strongly advised that all boat trailers be titled and registered due to the differences in rules from state to state. Due to theft issues, it is also strongly advised that all boat trailers be titled and registered. If a boat trailer is titled and registered, it is much easier to track it down.

BOAT REGISTRATION BY DEALERS OR MANUFACTURERS

Dealers and manufacturers can apply for a registration that can be transferred from one vessel to the next. The application for a dealer or manufacturer number must be accompanied by a copy of the business license and sales tax number. Such vessels are only to be used for demonstration reasons, and no more than one vessel with the same number of passengers may be operated at the same time. Furthermore, the Certificate of Number must be present on board, and the registration number must be displayed accurately. However, such vessels can display the number by affixing it to removable signage that can be affixed to the vessel temporarily but firmly.

BOAT TRAILER PURCHASED FROM AN INDIVIDUAL THAT HAS BEEN PREVIOUSLY TITLED

Please submit the title signed on the back by the prior owner to the Davidson County Clerk in order to title and register a boat trailer purchased from someone who has already been titled. In addition, the new boat trailer owner must pay Tennessee State Sales Tax and a fee ranging from $25.25 to $93.25. (depending on the length).