The recreational boating industry has been exploding in popularity over the last 15 years in Oklahoma due to the 200+ man-made lakes that are perfect for boating and fishing. In the summer months you can see all kinds of boats on the water such as fishing boats, speed boats, banana boats, pontoons, sail boats, canoes and even beautiful decked-out yachts.
Technically in Oklahoma you are not legally required to obtain any type of liability insurance as you would need for a car. You do need to take and pass a boating safety course to get a boat license. But like any expensive asset, you will want to protect yourself and your recreational vehicle or one accident could (literally) sink your boating adventures.
The amount of coverage you need will depend on the size, type and cost of your boat as well as what you intend to use it for. Much like car insurance you can get bodily and property damage liability insurance to cover the injured party in the event you cause an accident. This can help you settle a claim without getting sued. You should also consider collision or comprehension damage insurance to protect your investment. Boats are not cheap to buy or to maintain and store so this is one investment you can’t leave unprotected.
If you are a serious boater spending a lot of time on the water fishing, sporting or living on your boat then you might want to include personal effects insurance to cover the cost of expensive gear like cell phones, scuba gear, fishing equipment and more. If you use your boat on large lakes you might want to consider towing insurance, repair and labor insurance and “roadside” assistance for your boat in case of breakdowns far from shore.
Your Tulsa insurance broker can help you find the best rates and the right coverage for your boat. Safety and peace of mind can help you have the best summer possible with your family and friends.