Boat & Watercraft Insurance

Make your time on the water relaxed and worry-free with the right coverage. Serving Elyria and all of Ohio.

Savoy Insurance Group will find you a boat insurance policy that protects you, your friends and family, your watercraft, and your boating equipment.  Whether you are sailing the great oceans or just relaxing on Lake Erie, SIG will make sure that your boat has the coverage that you need.

The average boat costs less than a dollar a day to insure.

Request a free online quote or call us at 440-365-0435 to get started.

Common Types of Coverage

Here are some items you’ll need to consider when shopping for boat insurance in Ohio:

  • Navigational Area: Know where you are covered in the water. Some companies offer protection that covers you up to 75 miles from the U.S. coastline; into Canadian coastal or inland waters; and into the Pacific coastal waters of Mexico. In California, Florida and Oregon, additional coverage area can be purchased.
  • Agreed Value Coverage: Boats depreciate just like automobiles. Actual cash value policies can make it difficult to replace a boat that’s been stolen or destroyed. Agreed value means that if your boat is a total loss you will get the value you insured it for, minus any deductible.
  • Liability: Like car insurance, personal liability coverage provides coverage to other boaters and boat owners in the event you are at-fault for an accident on the water. This coverage will pay to repair or replace the property of someone else as well as for their medical care, lost wages and other costs incurred as a result of a boating accident for which you are at-fault.
  • Medical Payments: Medical payments coverage will pay for the cost of needed care that is the result of a boating accident. This coverage is available from $500 to $10,000 and covers you, your passengers, and even your water skiers/tubers, regardless of who is at-fault.
  • Physical Damage Coverage: Physical damage coverage pays for the cost to repair or replace your watercraft, its motor, any permanently attached equipment, and your trailer, if it is stolen or damaged.
  • Uninsured/Underinsured Watercraft Bodily Injury: Since boat coverage is not always mandatory, many boaters choose not to get insurance. If you are hit by an uninsured or underinsured boater, and you are injured, this type of coverage pays for medical treatment, lost wages, and other costs associated with the accident.
  • Fuel Spill Liability and Wreckage Removal: Should your boat sink or be seriously damaged, there is a chance that it could leak oil or fuel into the water. As the boat’s owner you are required by law to have this cleaned up, which can be time consuming and expensive.
  • Personal Effects: Your policy can provide coverage for many personal effects, including clothing, jewelry, cell phones, scuba/snorkeling and other sporting equipment, and fishing equipment.
  • Unattached Equipment Coverage: This pays to repair or replace equipment that isn’t permanently attached to your boat or personal watercraft, but is designed for use primarily on a boat. This includes items like lifesaving equipment, water skis, anchors, oars, fire extinguishers, tarps etc.
  • Emergency Assistance: The Emergency Assistance Package provides coverage for towing, labor and delivery of gas, oil or loaned battery if the watercraft is disabled while on the water.

How can I stay safe while boating on Lake Erie?

1. Enroll in a Boating Safety Course.

Find a local boating instructor or school near you, where an expert can teach you the ropes before you hit the Lake.  These courses will help you learn to operate your boat, navigate on the water, and understand nautical signs and signals.  Boating safety courses can be integral in ensuring that you stay safe out on the water.

2. Check the weather before you go.

Before you depart for a day on the lake, make sure to check the morning weather report.  If conditions seem too windy or rainy, strongly consider re-scheduling your outing for a better day.

3.  Bring a little bit of spare water and food.

If an accident happens and your boat stops working in the middle of the Lake, the last thing that you want is to be left out of luck while stranded.  Bring some snacks and water in case of an emergency.

4. If boating on Lake Erie in the colder months of the year, dress appropriately.

Dressing for the temperature of the water, rather than the temperature of the air, can help to ensure that you stay warm and safe from any icy waves.


Every need is unique — contact Savoy Insurance Group today to find out how to get the best boat and watercraft insurance coverage for you.

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