Although not required by law, adequate marine insurance is as essential for boat owners as motor insurance is for vehicle owners. BF&M recommends that virtually every boat–at a minimum–be covered by liability (third party) insurance. This protects your legal liability against injuries or property damage arising out of your ownership of the vessel.

Comprehensive marine insurance can cover your boat for everything from liability to fire, theft, sinking, weather damage, or collision. Without marine insurance, you would be faced with paying the entire cost to repair or replace your boat should it be damaged or lost, as well as the cost of injury to other people or their property.