Boat insurance typically runs 1% to 2% of the boat's insured value a year. For most families that means $300 to $500 for an 18-to-24-foot runabout, $250 to $600 for a bass boat or pontoon, and $200 to $350 for a jet ski. Hurricane-state boaters pay about 25% more, and a winter lay-up period takes 8% to 15% back off.
The 1-to-2% rule is the honest starting point, but boat type bends it. Here are typical annual premiums for a full package, hull coverage plus liability, medical, and uninsured boater, at each type's common value, inland water, $500 deductible, $300,000 liability, and a seasonal lay-up:
| Boat type | Typical value | Avg annual premium | % of value | Typical range |
|---|---|---|---|---|
| Bass / fishing boat | $30,000 | $317 | 1.1% | $250 – $600 |
| Pontoon | $35,000 | $354 | 1.0% | $300 – $650 |
| Bowrider / runabout | $40,000 | $386 | 1.0% | $300 – $800 |
| Sailboat (22–32 ft) | $50,000 | $515 | 1.0% | $400 – $1,200 |
| Cabin cruiser | $120,000 | $902 | 0.8% | $900 – $2,500+ |
| Jet ski / PWC | $12,000 | $244 | 2.0% | $200 – $350 |
| Canoe / kayak | $2,500 | $101 | 4.0% | $75 – $150 |
Two patterns stand out. Big cruisers pay the smallest percentage but the biggest checks. And small unpowered craft pay a minimum-premium floor, around $100, that towers over their value, they're often better scheduled onto a homeowners policy or self-insured.
For your own hull, run the type, value, state, and water through the boat insurance cost calculator, which applies all six rating factors to these baselines.
Boat type, value, state, navigation area, deductible, and lay-up in. Annual and monthly premium out, plus what the same boat costs in hurricane-state Florida.
Boat Insurance Cost Calculator →A $38,000 bowrider on Lake Michigan, with a $500 deductible, $300,000 liability, and a five-month lay-up: $420 baseline × 0.98 (value factor) × 0.95 (Michigan) × 1.10 (Great Lakes) × 0.92 (lay-up) = $396 a year, or $32.98 a month.
Now a 26-foot sailboat worth $60,000, kept in the water year-round in coastal Florida with a $1,000 deductible and $500,000 liability: $560 × 1.08 × 1.25 × 1.18 × 0.90 × 1.06 = $851 a year. Per dollar of hull, the Florida sailor pays more than double, and that's before the named-storm deductible many Gulf policies now carry as a percentage of insured value rather than a flat amount.
Boat liability limits are also worth a second look. A serious collision on the water can outrun $100,000 fast, and the jump to $300,000 or $500,000 costs a few dollars a month. The same logic applies to an umbrella policy, which often covers boating liability too. And if the tow vehicle and trailer also need pricing, the RV and trailer insurance calculator covers the rolling side of the hobby.
In most states, no, though Utah and a few others require liability on motorboats. The requirements that actually bind most owners come from lenders, who require physical damage coverage on financed boats, and marinas, which typically demand $300,000 or $500,000 of liability proof before you get a slip or dry-stack spot.
Only a sliver. Some homeowners policies extend $1,000 to $1,500 of hull coverage to small boats under 26 feet with small motors, and theft claims are capped hard. Personal watercraft are usually excluded entirely, and liability needs a separate endorsement. Any boat worth more than a few thousand dollars needs its own policy, at roughly $300 to $500 a year for a typical runabout.
About $200 to $350 a year for a typical PWC, roughly 2% of its value, twice the percentage of a bowrider. Theft and injury claim rates for personal watercraft are high, which is why the percentage runs steep. A $12,000 jet ski kept in coastal Florida runs about $342 a year; the same craft on an inland lake costs under $300.
A discount for the months your boat is out of the water and in storage, since an insured event during that window is far less likely. A 3-to-5-month lay-up takes about 8% off the annual premium and 6-plus months takes about 15%. Northern boaters who winterize every year are leaving this money on the table if they never asked for it.