... Now that you have decided on the type of boat you want, it’s time to look for insurance. ... It happens frequently during the boating season when waterways are crowded. ... It will also cover legal expenses that might arise from defending a lawsuit. ... Make sure you carry at least the minimum required in the state where you live. ... Polices may limit payments due to events such as weather or vandalism. ... Look for an “all risk” policy that does not list exclusions to the coverage. ... Physical damage coverage can be written for either an agreed upon price or actual cash value (ACV). ... ACV will take care of that problem. ... Some policies will cover injuries to swimmers and skiers that use your boat. ... These can be substantial depending on distance and scope of problem. ... Uninsured boater coverage takes care of the loss of your boat and possibly injuries to you or passengers that are caused by a boater operating without liability insurance. ... There are many boaters that don’t carry any type of insurance ...