Boat insurance is virtually the finest protection a fishing, sailboat, or power craft owner can arrange for his purchase. On offer from various insurance firms, this style of indemnity ranges from a general policy plan for pleasure boats to a customized or tailored insurance plan intended for a specific yacht and event. In its more basic position, it will cover against loss, accidents, vandalism, and includes liability cover.

Many insurance policies are on offer in various schemes for the numerous styles and classes of craft. Typically covering all pleasure crafts and commercial marine perils, and might also include bareboat and skipper charter. Some insurance brokers offer specialist boat and yacht indemnity packages, these include commercial and motorboat marine risks, also including extensions for racing vessels.

Specialist marine insurance underwriters often draft these policies, and a wide-ranging scheme is put forward for nearly any situation. These agents also suggest as to the ideal insurance scheme for each client. Typically, a quote is established, and it is tailored for each sail or powerboat and its owner's requirements. Insurance policy cover is often worldwide.

Marine insurance addresses many factors other than security for a specific vessel, such as boat builders, sail makers, equipment manufacturers, boat builders, chandlers, marine suppliers, commercial boats, boat yards, marine consultants, naval architects, boat brokerages, marine cargo, marine engineers, marine surveyors, and marinas. Optional protection in bespoke policies might offer business interruption, public liability, and vessels under construction, boat charter, stock, machinery, lifting equipment, employer's liability, waterborne activities, pontoons, contents, moulds, professional indemnity, buildings, marina operators, and equipment tools.

A basic marine insurance policy for a pleasure craft would offer protection from physical damage, liability and perils. Physical damage typically includes the machinery, sails, furniture, hull and various other gear located on board. Perils will extend to forms of malicious damage, vandalism and latent defects from craftsmanship. The insurance needs to also provide liability losses, and ought to make available incidental medical coverage to crew members and passengers onboard if any incident should occur. Harm to another person or property is also included in third party indemnity cover.

Overall, boat insurance is a necessity for ensuring peace of mind and safety one aims for to while navigating inshore or the open sea.