Although Utah is generally famous for its dry climate and skiing, such notoriety fails to account for Utah’s geographic diversity. Utah has both high mountains and arid desert in
Utah does not have a huge number of registered
Utah Boat Insurance
So, does Utah require boat insurance? You bet it does. Utah is one of only two states in the U.S to require boat insurance on motor boats. These requirements include:
- Any motorboat over 50hp is required to have liability insurance
- Any PWC of any size must possess liability insurance
- Minimum insurance requirements are: $25,000-/$50,000 bodily injury/death – $15,000 property damage or $65,000 combined minimum per accident.
Motor boatsunder 50hp and Jet boats are exempt and do not need to have liability insurance.
- Applicable vessels must have proof of insurance on board whenever they are on the water.
Now, we should note, Utah does not require you to
In addition to the Utah state insurance requirements, you may find that other agencies will require you to
- Loans: If you purchase your vessel in Utah and plan to keep it there, you will need to purchase Utah boat insurance to cover your own vessel in addition to the state requirement. In fact, your bank or lender will likely not approve your loan without proof of some insurance. If your lender doesn’t require boat insurance, you may not be dealing with a trustworthy lender. The bank wants to protect their investment, as they are out several thousand dollars until you pay back your loan. The boat is their
collateral,so that they can seize it if you fail to pay. If your boat is in an accident or sinks without insurance, that collateral disappears. Therefore, many lenders include specific language in their loan policies to call in the full remaining price of the boat if your insurance lapses. Your lender will probably appear on your insurance policy as the lien-holder. If you need to file a claim, your insurance check will then list your lender as the co-payee.
- Marinas: Most marinas, yacht clubs, and dockyards in Utah require insurance too. Marinas, like lenders, want to shield themselves financially in the case of an accident. Marina insurance limits may be higher than the state requirement if they worry that an accident will cause damage that is likely to exceed that value. If you collide with another boat in the marina, the establishment doesn’t want to be drawn into any litigation. They would prefer that your respective insurance companies take care of
Small Boat Insurance
So, if you don’t own a
You may also find it worthwhile to
Utah sees an immense number of reported boating accidents per capita. With .6% of the country’s registered boats, Utah saw over 2% of its boating accidents in 2016. That reflected a spike in accidents of 19% over the previous year. Boating accidents are expensive in Utah too. Utahans accrued $985,087 in 2016, for an average of nearly $10,500 per accident. For the vast majority of boaters, boat insurance is a fraction of that
Boating Fatalities and Alcohol
Utah’s boating fatality rate in 2016 was a couple
Alcohol greatly impairs our ability to handle a vessel. Even in a majority-
We know that insurance can’t protect you from everything. It won’t keep you out of an accident, or keep your boat safe. Utah does require it, however, and it is truly important to mitigate the financial damage you could suffer. Insurance can save you thousands in the event of an accident and protect you and your family financially.