Boat/Watercraft Insurance

With over 200 man-made lakes, Oklahoma has seen increased popularity of boating activities over the past 15 years. And with the meteoric rise of boats, the number of boating accidents have increased. There are nearly 80 boat accidents every year .

In light of the above inherent dangers, insuring your boat is a worthwhile pursuit. While the state of Oklahoma doesn’t mandate boat insurance, considering purchasing one helps you to maintain a stress-free boating experience.

At Moore-Lancaster Agency situated , we offer a wide array of insurance plans for your boat, jet-ski, and other watercraft. The following list captures boat insurance coverage options that we offer:

  • Comprehensive and collision coverage: Protects your boat in case there is a collision. Damages are covered regardless of who is at fault. Collision coverage applies if there is a collision between your boat and another boat or object. Comprehensive covers your boat if any other non-collision related event like vandalism, fire, or theft. This coverage not only insures your boat while on water but also protects your boat while in storage and when on transit.
  • Property damage: Covers your legal liability for injury caused to another person or damage caused to someone’s property. This coverage deters you from incurring out of pocket expenses to cater for the medical bills and damage costs resulting from the accident.
  • Medical payments: This option covers medical expenses for you or when someone in your boat is involved in a boat accident.
  • Uninsured Boater is designed to compensate you for injuries sustained aboard your boat that are caused by an operator of another boat who is at fault and has no liability insurance.

How much do I expect boat insurance to cost me?

In the US, the average boat insurance cost per annum ranges from $300 to $500. However, your boat insurance could cost you to the tune of over $1,000 annually. The following factors determine the amount of boat insurance premiums:

  • Size of the boat
  • Frequency of using the boat
  • Your boating experience
  • Where you use the boat

The good thing is that Moore-Lancaster Agency, located just five minutes from Ft. Gibson Lake Reservoir, provides different boat insurance options at competitive prices. Our lake area is home to the FLW Fishing Tour, Bassmaster, CrappieUSA, Crappie Masters, Oklahoma High School Fishing State Championship and Bassmaster Elite Series. In fact, Cyrina Lang, a real estate broker in our office, is a leader in coordinating and is credited with bringing the FLW and BASS fishing tournaments to Wagoner. Also, one of the Top 20 all-time leading money winners in professional bass-fishing history, Tommy Biffle, calls Wagoner his home. Moore-Lancaster Agency is familiar with all types of boats. Please give us a call today!