Owning a dock or boat slip exposes you to property damage and liability claims.
Wind, storms, and accidents could leave you with expensive repair bills. Understanding your boat slip coverage will help you prepare for the unexpected.

Are you wondering what type of insurance coverage you need? Here’s an overview.

Coverage for an On-Premises Boat Slip

Coverage B covers other structures on the premises including your dock or boat slip. Coverage B is part of your homeowners or condo owners insurance policy.

Coverage for an Off-premises Boat Slip

Off-premises boat slip coverage is different. Coverage B for other structures does not apply to structures off-premises. A boat slip not located on your property would need Coverage B added as an endorsement.

Coverage Limits

Coverage B has a limit of 10% of the homes insured value. For example for a home’s insured value of $300,000 the coverage limit for the dock would be $30,000. It’s up to you to determine if that is enough coverage to repair or replace your dock. If not, discuss options to increase your limits with your insurance agent.

Coverage for Boat Slips Rented by Boat Slip Owners

You will not have liability coverage for your boat slip under your homeowners or condo owners policy if you rent it out. You will need commercial insurance for a rented boat slip. It’s important to note that rented boat slips are hard to insure. Talk to your agent to discuss coverage before you decide to rent your boat slip out.

If you would like to review coverage for your dock or boat slip, please give us a call. We’re happy to discuss your coverage options.



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