A Guide: Oklahoma Boat Insurance

Oklahoma has more shoreline miles than any other state in the United States. We’re home to over 200 lakes (most man-made) and over a million surface acres of water for enjoying and exploring. Unsurprisingly, many Oklahomans spend their summer days on the water in their boats. Maybe you’ve owned a boat for a while, or you’re exploring the possibilities. The team at Kyle Vandruff Farmers has put together a guide to help you understand the ins and outs of Oklahoma boat insurance. 

Investing in and owning a boat is a commitment in many ways, and a boat is valuable property that you’ll want to protect. There’s nothing quite like spending long summer days on the lake, but there are risks that come with watercraft ownership. Read more about boat ownership in Oklahoma and how you can protect your property and family and enjoy the benefits of owning a boat worry-free. 

Is Boat Insurance Required in Oklahoma? 

In Oklahoma, boat insurance is not required by law; however, most lenders will require boat insurance if you used a loan to purchase your boat. Additionally, boat insurance is an incredibly wise decision. Yes, boat insurance will cover theft and damage, but perhaps most importantly, it covers liability. Liability coverage will protect you if an accident occurs and injury or damages are caused. A boat insurance policy is one of the best ways to care for your 

property, the passengers on your boat, and other individuals enjoying Oklahoma’s lakes. 

Boats like kayaks, canoes, and paddle boats typically don’t need to be insured for personal use. While it is not required by law, we do recommend that you purchase a policy for your watercraft, especially if it is one of the following types of boats:  

  • Speedboats 
  • Sailboats 
  • Bass boats or other fishing boats 
  • Pontoons 
  • Personal watercraft like jet skis, wave runners, sea-doos, etc. 
  • Houseboats
  • Yachts 

What does boat insurance cover? 

Boat insurance will typically cover the costs of many types of accidents. Policies differ, but you will likely discuss the following types of coverage with our team. 

  • Liability – most importantly, your policy should include liability coverage. This will protect you if you or your boat causes an accident, injures someone, or damages property. 
  • Medical Payments – Medical coverage ensures medical bills are covered if you or a passenger on your boat are injured. 
  • Physical Damage – Physical damage coverage protects your boat if it is damaged by collision, hail or bad weather, stolen, or otherwise damaged. There are different types of physical damage protection, so speaking with one of our team members may benefit you as you decide what coverage is best. 
  • Uninsured Watercraft – If you are in a boat wreck with an uninsured boat or an uninsured boat causes damage to your boat, this coverage protects you, your passengers, and your watercraft. 
  • Personal Property – Personal property protection covers your personal property that is not attached to or a part of the boat, including water skis, navigation systems, laptops, or other items stored in the boat’s hold. 

What does boat insurance not cover? 

If you have an auto insurance policy, many things not covered will sound familiar. Boat insurance does not cover normal wear and tear or general maintenance of your boat. You are expected to care for your car and ensure proper maintenance; the same goes for boats. Additionally, boat insurance will not cover weathering, deterioration, infestation or animal damage, insect damage, issues caused by improper storage, mold, under-age, or improper operators. 

Are boats expensive to insure? 

You will probably be very surprised by how affordable boat insurance can be. When you reach out to our team, we’ll prepare a custom quote based on the specifications and details of your watercraft. Maybe you just need to insure your jet ski or wave runner? We can help with that. Purchased a new speed boat? We can cover that too. 

How much does boat insurance cost? 

The national trends for boat insurance range widely, from $200-$500 on average. If you’re considering buying a boat and want a better idea of the insurance cost, contact our team for a quote. If you can provide a few details about the watercraft, we’ll be able to give you a better estimate so you’ll know what to expect when you do purchase a boat. 

What factors impact the cost of boat insurance? 

Several factors are considered as the cost of your boat insurance policy is determined. As our team prepares your boat insurance quote, we may ask about the following: 

  • Type of boat or watercraft 
  • Condition of the boat 
  • Boat’s motor and horsepower 
  • Boat’s age 
  • Boating history
  • Intended use of the boat (fishing, wakeboarding, etc.) 
  • Frequency of use
  • Driving record 
  • Completion of a boating safety course 

There are always ways to save money on your boat insurance. Primarily, if you bundle your auto, home, renters, boat, or other insurance policies with the Vandruff Agency, we can provide a better price for your policy. Contact our team to learn more about the different insurance policies we offer

Should I take a boaters safety course? 

Yes! We recommend everyone take a boater safety course online before operating a boat. Taking a couple of hours to learn about the rules and regulations of using a boat in Oklahoma waters is very important for your safety and those who may be on the watercraft with you. Additionally, teens in Oklahoma are required to complete a boating safety course before operating a boat. Many online courses are free or inexpensive, and most classes are self-paced. It encourages safety and courteous behavior on the water and may reduce the cost of your boat insurance policy. 

How Do I Find the Best Oklahoma Boat Insurance? 

Look no further. The Vandruff Agency team has proudly served Oklahoma and Texas insurance needs for many years. We can work with you to ensure you have the correct coverage for your boat or watercraft. We aim to give you the peace of mind to enjoy long weekends at Eufala, Tenkiller, Texhoma, or Oklahoma’s other beautiful lakes. Contact our team to receive your boat insurance quote today.


532 E Memorial Road
Oklahoma City, OK 73114

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