A sleek, white sport fishing yacht speeding through the water, creating a large wake, prompting thoughts on the need for boat rental insurance.

How Much Is Boat Rental Insurance and Do You Need It?

A sleek, white sport fishing yacht speeding through the water, creating a large wake, prompting thoughts on the need for boat rental insurance.
Rental DurationAverage Cost
Hourly Rental$15 – $30/hour
Half-Day Rental$25 – $75
Full-Day Rental$40 – $150
Weekly Rental$150 – $500+


For luxury yachts or long-term rentals, costs can go up to $1,000+ depending on coverage and value.

Can I refuse the insurance offered by the rental company?

Sometimes yes but you may be required to show proof of alternative coverage.

 

Is boat rental insurance required by law?

Not in most states, but rental companies often mandate it.

 

Will my auto or homeowner’s insurance cover boat rentals?

Not typically. Some umbrella policies may offer limited coverage, so always check.

 

What happens if I damage the boat without insurance?

You’ll likely be held personally responsible for repairs, legal costs, and more.

 

Is insurance different for captained charters?

Yes. When a captain is provided by the company, liability may shift to the owner/operator, but it's still smart to verify coverage.