Boat Insurance in Colorado

Colorado's pristine mountain lakes and rivers offer some of the most breathtaking scenery in the United States. Many people enjoy the tranquility of Lake Dillon which sits just outside of Denver, and the Colorado River is a popular spot for white water rafting. Lake Granby, Chatfield Reservoir, Blue Mesa Reservoir, and Eleven Mile Reservoir are just a few of the other bodies of water that are perfect for boat owners to enjoy.

However, owning a boat in Colorado can come with some risks. 

Of the 85,000 registered boats in Colorado, 44 get into accidents each year, causing an average of $1,700 per damage. The main causes of boating accidents in Colorado are fuel-related fires and explosions, so it is important to make sure your boat is properly maintained and well-insured.

At 3R Insurance Agency, we understand the unique needs of Colorado boat owners. We are fully independent, meaning that we have access to a variety of carriers and can shop the market for you to ensure you get the best coverage, price, and service. Here are just a few of the benefits you can expect when you work with us:

• Personalized Coverage: We will take the time to understand your needs and customize a policy that fits your unique situation.
• Best Price: We’ll shop the market for you, so you can be sure you’re getting the best possible price for your boat insurance.
• Extensive Experience: We have over 30 years of experience in the boat insurance industry and can provide expert advice.
• Flexible Payment Options: We offer a variety of payment plans to fit your budget.
• Comprehensive Coverage: We provide a wide range of coverage options so you can be sure your boat and its contents are adequately protected.
• Discounts: We link boaters with the best discounts from our carriers so that you can get more coverage for less money.
• Claim Support: Our experienced team can help guide you through filing a claim and ensure you get the maximum compensation available.
• Fast Service: We provide fast, efficient service so you can get the coverage you need in a timely manner.
• Online Quotes: We provide free, no-obligation quotes online so you can compare rates and coverage options quickly.
• Dedicated Agents: Our friendly agents are here to answer questions and provide their expertise when you need it.

We’re here to help Colorado boat owners get the right coverage at the right price. Contact us today to learn more about boat insurance in Colorado and how we can help you protect your vessel. With the right coverage, you’ll have peace of mind while you enjoy the beautiful Colorado waterways.

We look forward to working with you!

Unlike auto insurance, boat insurance is not required by Colorado law. However, if your boat loan requires you to carry coverage, then you’ll need to obtain a policy to protect your vessel. Additionally, if you plan on taking your boat out of state, it is strongly recommended that you purchase insurance in case of an accident.

It is also important to keep in mind that some marinas and boat clubs require their members to carry insurance. It’s always a good idea to check with your marina or club to ensure that you have the right coverage.

The coverages offered by boat insurance policies vary from state to state, but here are a few of the most common types:

Liability Coverage

One of the most important coverages offered by boat insurance is liability coverage, which protects you from legal liabilities arising out of an accident or injury caused by your vessel. This coverage can also provide protection if your boat is responsible for damaging another person’s property. A liability policy typically covers the costs of medical and legal expenses, as well as any damages awarded to the other party.

Uninsured/Underinsured Boaters

This coverage provides protection in the event that an uninsured or underinsured boater causes an accident involving your boat. It can also provide coverage if you’re involved in a hit-and-run accident. The coverage limits will vary by policy, so be sure to check with your agent for specifics.

Property Damage Coverage

Since boats are expensive investments, having property damage coverage is essential. This coverage provides protection if your vessel is damaged by a collision with another boat or object or by certain natural disasters such as fire, windstorms, or floods. It can also help pay for towing and salvage costs if your boat needs to be repaired or replaced.

Collision Coverage

Collision coverage helps pay for damages to your boat caused by a collision with another vessel or object. Depending on the policy, it may also cover the damage sustained by the other party’s boat.

Personal Property Coverage

Also known as contents coverage, personal property coverage helps pay for any personal items that were damaged or stolen from your boat. This could include fishing gear, navigational equipment, clothing, and other items.

Towing Coverage

Boat accidents can happen when you least expect them, and having towing coverage can help cover the cost of getting your boat to a safe harbor. This type of coverage is typically included in a comprehensive boat insurance policy, but it’s always best to double-check with your agent for specifics.

Wreckage Cleanup/Fuel Spill Liability

If your boat is involved in an accident, it’s possible that fuel or other hazardous materials may be spilled into the water. Wreckage cleanup coverage helps pay for cleanup costs in the event of a spill or other environmental damage caused by your boat.

Additional Coverages

In addition to the coverages listed above, many other types of boat insurance are available. These may include coverage for medical payments, roadside assistance, and more. Be sure to talk to your agent about all of the different coverages available.

The cost of boat insurance in Colorado will vary depending on several factors, such as the type and size of your vessel, the coverage limits you choose, and your personal risk factors. Talk to your agent for an accurate quote.

• Size and type of the vessel: The size and type of vessel you own will affect your boat insurance premium. Larger boats typically cost more to insure, as do boats that are used for commercial purposes.
• Location: Where you keep your boat will also affect the cost of insurance, as certain areas are more prone to natural disasters or theft.
• Coverage limits: The higher your coverage limits, the more expensive your premium will be, so choosing a limit that meets your needs is important without breaking the bank.
• Personal risk factors: Your driving record, credit score, and other personal risk factors will also affect your boat insurance rate.

On average, boat insurance in Colorado costs around $256 per year. However, the exact cost of your policy will depend on the factors listed above.

1. Increase your deductible: Increasing your deductible is a great way to lower your boat insurance premium.
2. Bundle your policies: Bundling your boat insurance with other policies, such as auto or homeowners insurance, can often result in savings.
3. Take a boater safety course: Most insurance companies offer discounts for those who have completed a boaters safety course or taken other safety measures.
4. Install safety and security devices: Installing safety and security devices, such as alarms or GPS tracking systems, can help you save on your boat insurance premium.
5. Maintain a clean driving record: Keeping a clean driving record can help you get more favorable rates on your boat insurance.
6. Pay annually: Many insurers offer discounts for those who pay their premium in full at the beginning of their policy term rather than making monthly payments.
7. Join a boat club: Joining a boating organization such as BoatU.S., the U.S. Coast Guard Auxiliary, or a local marina can often result in savings.
8. Store your boat on land: Storing your boat in a garage or other secure structure can result in lower premiums. This is because it is much less likely to be damaged or stolen than if it were stored in the water.
9. Get multiple quotes: Shopping around for quotes from several different companies can help you find the best rates.
10. Maintain a good credit score: Insurers use credit scores to help determine rates, so be sure to maintain a good score for the best savings.
    

Here at 3R Insurance Agency, we make it easy to compare boat insurance quotes in Colorado. Our team of agents is available to answer any questions you may have and help you find coverage that meets your needs. Get started today by giving us a call or completing an online quote request form.

We look forward to helping you protect your boat and save money at the same time.