Boat owners know the freedom that floating in a boat in a body of water offers. Whether you float in an inland lake or the wide open ocean, it feels as though your choices, future and possibilities are endless. This freedom does not mean, however, that you can go without boat insurance. You have an obligation to your family and to other boaters to carry insurance that protects you and them from financial liabilities.

When you decide to buy boat insurance, there are a few coverage options and policy distinctions you should consider.

Coverage Options

The first thing you need to consider are your coverage options. Not every boat insurance policy must be created the same way or carry the same coverages. Some things to consider include:

• The navigational area you need your insurance to cover.
• Whether or not to get fuel spill coverage for accidental spills your vessel might cause. If your vessel sinks or spills oil you are responsible for the cleanup costs whether you have coverage or not.
• Whether personal effects coverage (for all the personal items on board) will be useful to you.
• If unattached equipment coverage for things like anchors, water skis and other unattached tools and recreational toys will be useful for your boating style.