How do I get insurance for a boat I’m planning to purchase?

1. Contact your insurance agent and ask if they handle vessel/hull insurance. If they don’t, they can likely recommend a reputable insurance agency that does.

2. Once you have selected an agency, they will provide you with a list of required information to obtain for the carrier in order to provide a quote. They will want information about the boat and its condition, who will operate it, where it will be stored, and various other details.

3. If you are going to finance your purchase through a lender, ask your loan oƯicer for the lending bank’s insurance requirements. Give those requirements to your insurance agent as early as possible in the process, so they can make sure you’re getting quotes for the proper insurance coverage for your loan. Missing this important step can cause delays in funding.

4. Communicate your anticipated closing date to your insurance agent, so they can make sure the coverage is bound for the date you will take ownership.

Contact Us / 954.980.8121 / Rick Obey Yacht Sales