You need boat insurance for many reasons. Boat insurance covers loss or damage to your boat and helps protect you financially for injuries or damage caused by covered mishaps. In addition, liability coverage can help protect you if you cause injury to others or their property while using your boat. Medical payments coverage provides reimbursement for injuries to you and your guests. Boat insurance even covers on-water towing.
Did you know that about half of all boaters on the water this year did not carry any insurance at all? That may be fine for their own boat... but what if they hit you??