Imagine two monkeys launching a brand-new wake surf boat. One monkey forgets to put the plug in the boat. The other monkey assumes it was already done. Next thing you know they’re floating in Eagle Mountain Lake wearing life jackets, holding beers, watching the bow of their very expensive boat sticking straight up out of the water.
Funny in a meme.
Not funny if it’s your new boat.
And that’s where boat insurance details suddenly matter.
Let’s say you launch your brand-new wake/surf boat, leave the plug out (thanks, Monkey #1), and head out of the marina. You start filling the ballast tanks and within minutes your boat is taking on water faster than a monkey can say, “Hey Mon-Key… Hand me a beer!”
Modern wake/surf boats can cost more than some people’s houses, and most are financed. So you probably insured the boat… right?
But after you bought the boat, did you upgrade the stereo system? Maybe a $20,000 sound system so the whole lake (and half of North Texas for that matter) can hear your playlist (monkey business)?
Great upgrade. But here’s the question:
Did you tell the insurance company about it?
Because if you didn’t increase your coverage limit to account for that aftermarket upgrade, that fancy stereo system may be insured for exactly $0...and all you may get for is it a "yellow submarine" (are you a Beatles fan)!
Now let’s talk about the fishing crowd.
You’ve got a bass boat with a new LiveScope, two high-end fish finders, ten rods, and enough tackle to open a small sporting goods store.
Are those items covered?
Many boat policies exclude personal property like fishing equipment unless it was original equipment on the boat and the boat itself has physical damage coverage.
So if you have an accident on the water—or on the highway while trailering—and all that gear is damaged or lost… there’s a good chance you have no coverage unless you specifically purchased personal property coverage.
Could your homeowners policy help?
Maybe. But you might be dealing with a large deductible that makes the claim pointless.
And beware: some policies won’t cover personal property that simply “disappears.” If the gear wasn’t stolen with the entire boat or forcibly removed, the coverage may not apply.
Everyone knows there are a lot of drivers on Texas roads without insurance.
Now imagine the percentage of boaters running around the lake with no liability coverage at all.
It’s probably three or four times higher.
So if you’re buying liability coverage to protect others, make sure you add uninsured/underinsured boater coverage to protect yourself.
Because if someone hits your boat and they have no insurance, the only thing sinking faster than the monkey boat might be your bank account if you didn't buy the correct amount of physical damage coverage.
Medical Payments coverage is one of the most overlooked but valuable protections on a boat policy.
It helps pay for injuries to you or your passengers while on the boat, boarding it, or getting off of it.
Picture this: you’re at a raft-up, music playing, everyone having a great day… until someone (a friend by chance just....MONKEYING AROUND......IMAGINE THAT) slips off the swim platform and breaks an arm.
Medical payments coverage can help cover those expenses up to the limit you choose.
You can buy a boat policy that only provides liability coverage for damage you cause to others.
But if you want coverage for your own hull, you need to purchase physical damage coverage.
Boat policies typically insure the boat for either: Agreed Value OR Actual Cash Value That choice becomes very important when dealing with partial losses or claims.
And don’t forget the trailer. If your trailer comes off the hitch and causes damage or injury, your vehicle’s liability coverage will likely respond. But damage to the trailer itself or theft of the trailer usually isn’t covered unless you specifically insure it.
Boat insurance isn’t just about finding the cheapest policy. Saving money on your boat insurance is great. Maybe you called an agent, or maybe you bought it online in about three minutes while eating a banana. Either way, someone probably congratulated you on the “great rate” or "saving you money" or how "bundling (bungling) saved you $$$" or "you only purchased what you needed and saved hundreds".
But here’s the thing… most times that lower premium means the policy was designed more to save you money than to protect your boat, your gear, your fellow monkeys, or your wallet.
Because when something goes wrong—whether it’s a collision, stolen equipment, injured passengers… or a monkey forgetting to install the drain plug—you don’t want to discover that the coverage you thought you had doesn’t exist. So insure your boat and trailer properly, and work with an agent or company focused on protecting your assets—not just saving you a few dollars on the premium.
After all… it’s hard to buy the coverage you need if you don’t know what coverage is available.
And remember: Before launching the boat…Check the plug!!!!.
Even (most) monkeys at Lakeview Boating Center on Beautiful Eagle Mountain Lake hopefully know that now. 🐒🚤🍺
If this helped you, do me a favor:
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