Arkansas Boat Insurance

Having boat insurance in Arkansas is a smart way to protect your vessel and yourself. In fact, Arkansas legally requires liability coverage for watercraft with horsepower over 50. Many responsible boat owners choose to carry coverage to protect against accidents, theft, and storm damage.

GEICO makes it simple to get coverage that fits your boat and budget. With flexible options, competitive rates, and strong financial backing through GEICO Marine, you're free to enjoy the water with confidence. Optional towing coverage is also available through TowBoatUS, supported by BoatUS, the nation's largest group of recreational boat owners, with over 50 years of experience making boating safer and more enjoyable.

Is Boat Insurance Required in Arkansas?

While Arkansas requires coverage for boats with select horsepower capabilities, there are situations where boat insurance may be required by other parties.

Alongside state coverage requirements, lenders will usually require insurance if you're financing your boat, and many marinas ask for proof of liability insurance before offering docking space. These rules help protect both the boat owner and others from unexpected damage or injuries. Failing to meet these insurance requirements can result in denied dock access or financial risks associated with unpaid damage claims.

Arkansas Boat Insurance Coverages

Boat owners in Arkansas can build their insurance policy to match how and where they use their boat. GEICO offers several key coverage options:

• Liability Coverage: Helps pay for injuries or property damage you cause to others in a covered accident.
• Hull and Equipment Coverage: Covers the cost to repair or replace your boat, engine, and boating equipment due to damage from a covered event. Boating equipment includes items you own, regularly carry aboard, and need for safe operation and maintenance.
• 24/7 Boat Towing: Provides optional emergency assistance and towing services if your boat breaks down on the water. Learn about Premium Towing options available through GEICO. TowBoatUS helps cover emergency services and towing, getting you safely back to shore.

These options can be bundled together to create a comprehensive policy that works for how and where you boat in Arkansas.

How Much Does Boat Insurance Cost in Arkansas?

Boat insurance in Arkansas is relatively affordable compared to many coastal states. Still, several factors affect the cost of your policy. For example, insuring a high-powered speedboat used for wakeboarding may cost more than covering a modest fishing boat used occasionally on smaller lakes.

Key factors that will play into the cost of your boat insurance include:

• Type of boat: Different boats carry different levels of risk. For example, speedboats and yachts typically cost more to insure than small fishing boats or pontoons due to their higher value and potential for accidents or damage.
• Length of the boat: Longer boats generally have higher insurance premiums. Larger vessels tend to be more expensive to repair or replace and may pose a greater liability risk.
• Horsepower: Higher horsepower increases both the speed and the risk of accidents, leading insurers to charge more. Powerful engines are also more expensive to repair or replace once damaged.
• How it’s used: Boats used for commercial purposes or racing typically cost more to insure than those used for occasional recreational outings.
• Where it’s stored: Boats stored in marinas or near the coast may face higher premiums due to risks like theft, vandalism, and weather-related damage. Storing a boat in a secure, inland facility can reduce insurance costs.
• Location of use: Busy recreational spots like Keystone Lake can lead to higher premiums due to the increased risk of accidents, property damage, and weather-related claims.
• Boater’s experience and claims history: Insurers may offer lower premiums to experienced boaters with a clean history, while those with past claims or little experience may be required to pay more.

Even if these elements aren’t currently working in your favor, there are still several ways that you can bring your boat insurance rates down. Checking to see if you’re eligible for any relevant discounts is one of the easiest ways to do so.

Arkansas Boat Insurance Discounts

GEICO offers a variety of discount opportunities to help Arkansas boaters save money on their insurance premiums without compromising coverage. Available discounts include:

• Multi-Policy Discount: Bundling your boat insurance with a GEICO auto policy may help lower your auto premium.
• Completing a boat safety course: Participating in a state-approved course, like the BoatUS Foundation safety course, may qualify you for a discount.
• Loss-Free Credit: Completing a policy period without any claims might make you eligible for a credit that can be applied to your next policy renewal.

Boat Insurance Limits and Deductibles

When setting up your boat insurance policy in Arkansas, understanding limits and deductibles helps make your decisions easier:

• Deductibles: This is the amount you’ll pay out of pocket before your policy kicks in. Choosing a higher deductible can lower your premium, but it also increases what you pay if you file a claim.
• Coverage Limits: These determine the maximum your insurance will pay for a covered claim. It’s important to select limits that reflect your boat’s value and how you use it. If a claim exceeds your limit, you’ll be responsible for any remaining costs.

GEICO Marine can help you find the right balance between premium cost and protection, so you're not left unprepared.

Why GEICO is the Best Boat Insurance in Arkansas

GEICO stands out as a top choice thanks to its low rates, flexible payment options, and fast claims service. Our policyholders enjoy affordable premiums and discounts that help keep coverage costs down without sacrificing quality. In the event of a claim, GEICO’s fast and efficient claims process ensures that boaters can get back on the water quickly with minimal hassle.

Get a Free Boat Insurance Quote in Arkansas

Boat insurance in Arkansas is an important investment for protecting your vessel, your finances, and your peace of mind. Be sure to take the time to evaluate your personal boating habits, the type of watercraft you own, and any specialized coverage you might need, such as towing or equipment protection. With the right plan in place, you can enjoy Arkansas’ lakes and rivers knowing you’re fully covered.

If you're looking for affordable boat insurance that doesn't compromise on coverage, GEICO and BoatUS offer options tailored to fit your needs. Get your free quote from GEICO today!

Boat Insurance in Arkansas FAQs

• Do boats in Arkansas need to be registered?

  Yes, boats in Arkansas must be registered with the Arkansas Game and Fish Commission (AGFC) if they are powered by a motor or are 12 feet or longer in length. Registration is required before operating your boat on public waters in the state.

• What types of watercraft are covered by boat insurance in Arkansas?

  Boat insurance in Arkansas typically covers various types of watercraft, including powerboats, sailboats, pontoon boats, personal watercraft (PWCs), and fishing boats. Your policy can be tailored to suit the specific needs of your watercraft, whether it’s a recreational boat or a specialized vessel.

• Does taking a boating safety course lower my insurance in Arkansas?

  Yes, completing a boating safety course like the BoatUS Foundation safety course may lower your boat insurance premiums in Arkansas. Many insurance providers, including GEICO, offer discounts to boaters who have successfully completed an approved safety course, as it shows a commitment to safe boating practices.

• Are all boaters in Arkansas required to wear a personal flotation device?

  Yes, in Arkansas, all boaters are required to have a personal flotation device (PFD) on board for each person. While adults are not required to wear them at all times, children under 12 must wear a properly fitting PFD when the boat is underway. It’s also recommended that everyone wear a PFD for safety.

• Does homeowners insurance cover boats?

  Most homeowners insurance does not cover boats, and if it does, it often has restrictions regarding vehicle size and horsepower. To protect your boat from theft, accidents, and damage from fire or lightning, you need boat insurance. Boat insurance may also provide liability coverage if you accidentally injure someone or damage their property with your boat.