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Boat and Yacht Insurance:  Why is boat and yacht insurance coverage necessary? The primary reason why you need a boat insurance is that the boat is not covered by homeowner’s insurance. Homeowner’s insurance may extend to small watercraft such as a paddle boat or sailboat but it doesn't extend to larger, more expensive varieties having motors. So, having boating insurance in this situation will protect the owner in the event a coverable issue arises. How boat and yacht insurance differs from homeowners or auto insurance: Though all general insurance policies have some similarities; they have their own unique qualities. Like home and auto insurance, if someone is injured by the boat, a boat insurance policy covers the policyholder. If the boat causes damage to someone else’s property, including docks and other boats, it also covers the policyholder.  It also provides coverages for physical damage to the boat in case it runs into something or runs aground. The ability to add extr