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Corin Cook

By: Corin Cook on August 30th, 2022

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What does MA Watercraft Insurance Cost?

Individuals & Families | Boat Insurance

Buying a boat or any kind of watercraft is a big commitment – and an expensive one!

Whether you have a fishing boat, dinghy boat, deck boat, catamaran, sail boat, houseboat, pontoon, yacht, jet ski, or any other kind of watercraft, it’s definitely no small investment. So when you consider all the day-to-day risks that can damage your watercraft, it can be kind of scary. 

You know what else can be scary? Opening an unexpectedly high insurance bill.

But not to fear – Team Berry is here! We’ve been protecting clients’ watercraft through reasonably-priced policies for years. And we can also help you figure out what you might expect to pay to insure your boat.

In this article, we’ll give you an estimate on what watercraft insurance can cost, get into the factors that influence it, and give some real examples of insurance premiums for Massachusetts boat owners.

What a MA watercraft policy costs:

Without any context, giving you an accurate estimate of what your boat insurance policy will cost is kind of challenging. But we can try our best to at least give you a rough estimate based on the premiums we usually see.

Depending on several factors, you can generally expect a watercraft insurance policy’s premium to fall somewhere between $100 - $5,000 per year.

For you, you can generally expect your annual premium to be about 1-2% of your boat’s market value.

For a more accurate estimate, you would need to factor in several other pieces of information, which we will get into next.

Factors that influence the cost of MA classic insurance:

We know the range we provided above is a little vague. But that’s because each policy varies significantly from situation to situation, based on many factors. Here’s what you can expect to play a role.

Watercraft value:

The value of your watercraft will play the biggest role in determining the cost. You can imagine that the more expensive a watercraft is, the more expensive its repairs will be, so insurance charges accordingly.

As we mentioned, you can usually expect your watercraft insurance to cost around 1-2% of your boat’s total value.

Watercraft age, type, and features:

Watercraft insurance covers a broad variety of boats and watercraft. They watercraft of all types and ages, so it only makes sense that the cost to insure them all will vary based on these factors.

In fact, the type, age, size, speed, horsepower and other features of a boat are a very crucial factor in determining cost. Newer, more expensive watercraft with complex features will cost more than an older, less valuable vehicle.


The number of operators, as well as their history of accidents/violations help determine your watercraft insurance premium. 

The more operators the more risk, so if a watercraft policy has more than one operator, the premium will almost always be higher than for a singular operator, especially if any of those operators have a claims history.


Similar to auto insurance, location plays a role in determining watercraft insurance premiums.

And when it comes to boats, both the location of use and the location of storing/docking are taken into account, as they can indicate risk.

If you use/store your boat where claims occur less, your premium will be less. If you’re in a riskier area, you can expect your premium to be higher.

Coverage choices/limits:

Each type of insurance policy has different coverages and limits. Some of these coverages are optional, or may not be an option depending on your type of watercraft. 

Generally, with higher limits, you can expect a higher cost. Similarly, the more coverages you have, the higher your cost will be.


Another factor that influences the price of boat insurance is your deductible. A deductible is the amount you would have to pay out before an insurance carrier paid you any claim money. 

If you have a higher deductible plan, your insurance policy will be cheaper.

Prior claims:

If you’ve ever had a watercraft insurance claim, your carrier will consider you more of a risk to have another and will charge you more because of it.

Your insurance carrier:

Each insurance carrier prices policies differently, so the cost of a policy can vary based on the carrier it’s quoted with. 

That’s why we always stress working with an independent agent (like us) who can shop your insurance around with all the carriers they work with to get you the right coverage at the right price.

Watercraft insurance premium examples: 

You know the factors that influence the price of watercraft insurance, but you probably still don’t have a clear idea of how exactly they will impact your specific situation.

So to help give you some more insight, we’ll give you some specific examples of some of the boat policies we’ve quoted recently.

  • A 1977 Boston Whaler 13 Sport with two operators and liability coverage only: $100 per year
  • A 2022 Mirrocraft 145t Troller with one operator both damage and liability coverage: $182 per year
  • A 2012 Boston Whaler Montauk with two operators and both damage and liability coverage: $425 per year
  • A 2016 Harris Flotebote 240 Solstice with two operators and both damage and liability coverage: $703 per year
  • A 1978 ‘28 Mariner  with one operator and both damage and liability coverage: $964 per year
  • 2022 Tahoe 210 with one operator and both damage and liability coverage: $1,370 per year
  • A 2007 Carver Yacht Cruiser with one operator and both damage and liability coverage: $3,373 per year

Find the right watercraft insurance policy at the right price with the right agency

If you’re looking for the right price for your watercraft insurance, you’ll want to make sure you’re working with a reputable insurance agent. 

Why? Because they will get to know you and your boat so they can shop around for the best price, make sure you are getting all the discounts you are eligible for, and keep up with your policy to make sure you always have the right coverage at the right price.

If you’re beginning a search to find the right agent to write your watercraft insurance, begin with this article: What to Look For when Selecting an Insurance Agency or Company.