Rhode Island Boat Insurance

Whether you are cruising around Block Island, navigating the coves of Narragansett Bay, or heading out for a day of fishing off the Rhode Island coast, owning a boat in the Ocean State comes with unique perks—and risks. Boat insurance in Rhode Island is not just a smart move; in some cases, it’s a necessity.

Whether you are seeking coverage for your boat due to a requirement by your lender or marina, or just to provide yourself with extra peace of mind, GEICO offers the flexibility and affordability to meet your unique needs.

Is Boat Insurance Required in Rhode Island?

In Rhode Island, boat insurance is not legally mandated by the state. However, this does not imply that boat insurance is unnecessary or that it won't be required under certain circumstances.

For instance:

• Many marinas in Rhode Island require proof of insurance before allowing boat owners to dock or store their vessels on the premises. This is to protect the marina's property and other boats in case of accidents or damage.
• If you're financing your boat, lenders typically require hull and equipment coverage for the duration of the loan. This ensures that their financial interest in the vessel is protected.

Failing to meet insurance requirements set by marinas or lenders can lead to loss of docking privileges or loan default. In either case, be sure to know what boat insurance you’re expected to carry so you can keep operating your vessel without any unexpected issues.

Rhode Island Boat Insurance Coverages

When it comes to boat insurance in Rhode Island, a standard policy typically includes several core coverages designed to provide well-rounded protection for both you and others. With GEICO, policyholders can pick and choose from the following options based on their specific needs:

• Liability Coverage: Takes care of damages and injuries to others if you're at fault in an accident—includes costs associated with injuries, property damage, and legal fees.
• Hull and Equipment Coverage: Protects your boat if it collides with another vessel or object, while also covering non-collision-related damages, such as those from fire, theft, or storms.
• 24/7 Boat Towing: Helps with towing costs and provides emergency services if your boat breaks down or you get stranded.

How Much Does Boat Insurance Cost in Rhode Island?

In Rhode Island, the average annual cost of boat insurance is slightly higher than the national average. Still, that doesn’t necessarily mean you’ll pay more—your premium will depend on a combination of several factors such as your type of boat, its length, how it’s used, and more.

Some key considerations insurers weigh when determining rates 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 after damage.
• How it’s used: Boats used for commercial purposes or sailboat racing typically cost more to insure than those used for occasional recreational outings. More frequent use also increases the likelihood of claims.
• Where it’s stored: Boats stored in marinas or near the coast may face higher premiums due to risks like theft, vandalism, and hurricane damage. Storing a boat in a secure, inland facility can reduce insurance costs.
• Location of use: Operating in Rhode Island’s coastal waters can increase costs compared to inland lakes or rivers, as open waters pose greater risks due to weather, tides, and marine traffic.
• 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 pay more.

Looking to reduce your costs without sacrificing coverage? Discounts can be a great way to save big. More on this below.

Rhode Island Boat Insurance Discounts

Well-rounded boat insurance does not always have to come at a significant cost. At GEICO, we know the best plans balance solid protection and affordability, which is why we offer several discounts that policyholders can take advantage of to reduce their rates. From simply bundling coverages to taking an approved safety course, there are several ways that you can save:

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

Why GEICO is the Best Boat Insurance in Rhode Island

GEICO has been trusted by thousands of boaters nationwide for many 85 years, covering a wide range of different boat types across an even wider range of unique scenarios. With boots-on-the-ground agents operating out of the Providence area, we understand the distinct challenges that Rhode Island boaters face and can help tailor your plan to reflect them. With flexible payment options and coverages available as well, GEICO ensures you only get what you need—and at the best price.

Get a Free Boat Insurance Quote in Rhode Island

Navigating Rhode Island’s coastal waters can be a rewarding experience, but it comes with responsibilities, one of the most important being proper boat insurance. While the state doesn’t mandate coverage, understanding both the required and optional protections available is essential to safeguarding your vessel, finances, and peace of mind. By taking a thoughtful, informed approach, Rhode Island boaters can secure the right insurance plan to confidently enjoy all the Ocean State has to offer.

Ready to weigh anchor in securing your boat insurance? Take the first step by getting a free personalized quote from GEICO today!

Boat Insurance in Rhode Island FAQs

• Do boats in Rhode Island need to be registered?

  Yes, in Rhode Island, most boats are required to be registered. Specifically, all motorized vessels and non-motorized boats over 12 feet in length must be registered with the Rhode Island Department of Environmental Management (DEM).

• What types of watercrafts are covered by boat insurance in Rhode Island?

  GEICO offers boat insurance that covers a wide range of watercraft, including powerboats, sailboats, personal watercraft (PWC) like Jet Skis, and more.

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

  Yes, completing a state-approved boating safety course can lower your GEICO boat insurance. GEICO offers discounts to policyholders who have successfully completed recognized courses such as those provided by the BoatUS Foundation for Boating Safety & Clean Water, the U.S. Coast Guard Auxiliary, or the U.S. Power Squadrons.

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

  Not all Rhode Island boaters are required to wear personal flotation devices (PFDs), but some are. Specifically, any individual operating or riding on a personal watercraft must always wear a U.S. Coast Guard-approved PFD while underway. Additionally, anyone being towed behind a vessel, whether on water skis, a surfboard, or another device—is also required to wear a PFD.