Does Michigan Require Boat Insurance?

Last Updated on October 16, 2022

Whether you live on the Great Lakes or inland waterways, Michigan is a great place to boat. But if you’re new to Michigan, you may wonder whether the state requires boat insurance. The answer is no – Michigan does not require boat insurance.

However, that doesn’t mean you shouldn’t have it. Boat insurance can protect your investment and provide peace of mind in the event of an accident or other mishap.

If you’re a Michigan resident and you own a boat, you’re required by law to have boat insurance. Boat insurance helps protect you financially if your boat is damaged or stolen, or if you’re liable for damages or injuries caused by your boat. There are different types of boat insurance policies available, so be sure to talk with your insurance agent about what coverage is right for you.

Some things to consider when choosing a policy include the type of boat you have, how often you use it, and where you keep it docked. Having adequate boat insurance is important not just for peace of mind, but also for compliance with Michigan law. So make sure you’re properly insured before heading out on the water this summer!

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What is Required to Have on a Boat in Michigan?

There are a few things that are required to have on a boat in Michigan. First, every boat must have a registration decal displayed on the hull. Secondly, boats must have proper lighting if operating during night time hours.

This includes an operational headlight, tail light, and sidelights. Thirdly, all boats must have some form of flotation device onboard at all times. This could be in the form of life jackets, throwables, or inflatable rafts/boats.

Finally, it is always recommended to have a fire extinguisher onboard in case of emergency.

Is It a Legal Requirement to Have Boat Insurance?

In the United States, there is no federal law that requires boat owners to have insurance. However, most lenders will require you to have insurance if you finance your boat. And if you’re leasing or renting a boat, the owner will almost certainly require you to have insurance.

Some states have their own laws about boat insurance, so it’s always best to check with your state’s boating agency to see what the requirements are. Even if it’s not required by law, it’s still a good idea to insure your boat. After all, boats can be expensive to repair or replace if they’re damaged in an accident.

And if someone is injured while on your boat, you could be held liable for their medical expenses. Boat insurance can help protect you from financial ruin in these situations.

Do All Boats Need to Be Registered in Michigan?

No, not all boats need to be registered in Michigan. But any boat that is used on Michigan waterways must have a watercraft license, which can be obtained through registering the boat with the state. There are some exceptions to this rule, such as boats that are only used on private property or out-of-state waters.

What Happens If You Dont Have Boat Insurance?

If you don’t have boat insurance, you could be facing some serious consequences. If you’re in an accident and damage someone else’s property, or injure someone, you could be sued for a lot of money. Without insurance, you would have to pay for any damages out of your own pocket, which could easily bankrupt you.

You could also lose your boat if it’s damaged or stolen, and again, would have to pay for the replacement out of your own pocket. So while it may seem like not having boat insurance is saving you money in the short term, it’s really putting you at risk for financial ruin in the long term. It’s just not worth the risk – get yourself some good boat insurance and sleep well knowing that you’re protected against anything that might happen on the water.

How to Get Boat Insurance

If you’re a boat owner, you know that insurance is a must. But what kind of insurance do you need, and how much will it cost? Here’s a breakdown of the different types of boat insurance and how to get the best coverage for your needs.

There are two main types of boat insurance: liability insurance and hull insurance. Liability insurance covers damages that you or your boat cause to other people or property. Hull insurance covers damage to your own boat, regardless of who is at fault.

Most lenders require you to have both kinds of coverage if you finance your boat. Liability coverage usually costs about $250 per year for a small motorboat with minimal horsepower. For a larger vessel, coverage can run up to several thousand dollars per year.

The amount of coverage you need depends on the value of your boat and where you keep it docked most often. You may be able to get a discount on your premium if you take steps to reduce the risk of accidents, such as taking a boating safety course or installing additional safety equipment on board. Hull insurance premiums vary depending on the type and value of your boat.

A new speedboat with lots of bells and whistles could cost upwards of $500 per year to insure, while an older sailboat might only set you back $100 annually. Again, discounts may be available if you take measures to protect your investment, such as storing the boat in a garage or using it only in calm waters. When shopping for boat insurance, be sure to compare rates from multiple insurers before making a decision.

Cheapest Boat Insurance

There are a few things to consider when trying to find the cheapest boat insurance. The type of boat, where it will be docked, and how often it will be used are just a few factors that can affect the price of your policy. The type of boat is one of the largest considerations when looking for insurance.

A small fishing boat will have a much different rate than a large yacht. The size and value of the vessel will play a big role in how much your insurance costs. Where you keep your boat also plays a role in how much you pay for insurance.

If you live on the water, you’ll likely pay more than someone who keeps their boat at a marina or dock. This is because there’s a greater chance that your boat could be damaged by weather or other boats if it’s not properly secured. Finally, how often you use your boat will also affect your rates.

If you only take it out on weekends, you’ll probably pay less than someone who uses their boat every day. Insurance companies see frequent users as higher-risk customers and charge accordingly. There are many ways to save money onboat insurance, but it’s important to compare quotes from multiple companies before buying a policy.

Boat Insurance Michigan Cost

If you’re a Michigan resident and you own a boat, you’re required to have boat insurance. The cost of boat insurance in Michigan will vary depending on a number of factors, including the type of boat you have, the value of your boat, and the amount of coverage you need. Here are some average costs of boat insurance in Michigan:

Boat Type Average Cost fishing boats $250-$500 pontoons $300-$600 runabouts $400-$700 sailboats $500-$1,000 jet skis/waverunners $600-$1,200 Houseboats $1,000-$2,000 The type of boat you have will affect your insurance rates. In general, smaller boats will be less expensive to insure than larger boats.

The value of your boat will also play a role in determining your premiums. If your boat is worth more money, it will likely cost more to insure. The amount of coverage you need is another important factor that will affect the cost of your policy.

Basic liability coverage is typically required by law, but you may want to consider additional coverage options such as collision or comprehensive coverage if your boat is valuable or if you plan to use it frequently. Get Boat Insurance Quotes Now To get started with finding the right policy for your needs and budget, compare quotes from multipleboat insurers online.

Use our free quote tool above to get started today!


No, Michigan does not require boat insurance, but it is highly recommended. Boat insurance can protect you from financial loss if your boat is damaged or stolen, and can also provide liability coverage if you accidentally injure someone else with your boat.