In the state of Michigan, you are required to have your boat or watercraft registered, but you are not legally required to carry insurance on it.
But the emphasis there is on the word legally. The law cannot dictate that you carry insurance on a boat, jet ski, or other watercraft, but the owners of boating docks can. Most boat-on-boat accidents are not going to occur out on the open water, where there's plenty of space, but at the docks, where things can get a little crowded. If you can't dock your boat, you're going to have a hard time taking it in and out of the water in the first place.
How Much Boat/Watercraft Insurance Do You Need?
Buying basic liability insurance, so that you can cover the damages in the event of personal injury or property loss, is enough to let you dock. But it won't do you much good if your boat is capsized or damaged in a storm, and it doesn't make a lot of sense to take your boat out on the water with no protection. Watercraft can be a big investment, and you want to be sure that it's totally covered in the event of a disaster.
At the very least you're going to want to carry comprehensive coverage to make sure that you are covered for any major repairs you need to make. If you are still paying your boat off, you may want to consider gap insurance. Gap insurance covers the difference between what you've already paid on your boat and what you have left to pay. And replacement or better-replacement coverage will help you to buy a whole new watercraft should your boat be totaled.
If you're ready to get covered get in touch with us at U.P. Insurance Agency. You can stop by our office or call us, and we'll see what kind of protection we can get for you. At U.P. Insurance Agency we'll compare several quotes from different insurers to get you a good deal on a great policy.