Colorado Boat Insurance Requirements In 2023

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If you own a boat in Colorado, it is essential to understand the insurance requirements that apply to your watercraft. Having the right insurance coverage not only protects you financially but also ensures compliance with state regulations. In this article, we will explore the boat insurance requirements in Colorado for the year 2023.

Liability Insurance

Colorado law mandates that all boat owners carry liability insurance. This coverage protects you in case of an accident where you are at fault, and it covers bodily injury and property damage caused to others. The minimum liability limits for boat insurance in Colorado are $25,000 for bodily injury per person, $50,000 for bodily injury per accident, and $15,000 for property damage.

Uninsured/Underinsured Coverage

In addition to liability insurance, boat owners in Colorado are strongly encouraged to have uninsured/underinsured coverage. This type of insurance protects you if you are involved in an accident with another boater who does not have insurance or has insufficient coverage. It ensures that you are not left financially responsible for damages caused by an uninsured or underinsured boater.

Optional Coverages

While liability insurance and uninsured/underinsured coverage are the minimum requirements, it is wise to consider additional coverages to protect your boat and yourself. Optional coverages may include comprehensive coverage, collision coverage, medical payments coverage, and towing and assistance coverage. These additional coverages provide added peace of mind and financial protection in various situations.

Factors Affecting Insurance Cost

Several factors can influence the cost of boat insurance in Colorado. These include the type and size of your boat, its value, the horsepower of the engine, the purpose of use (personal or commercial), your boating experience, and your claims history. Insurance companies will consider these factors when determining your insurance premium.

Discounts and Savings

Insurance companies often offer discounts and savings opportunities to boat owners. These may include multi-policy discounts if you have other policies with the same insurer, completion of a boating safety course, installation of safety equipment on your boat, and a claims-free history. Be sure to inquire about available discounts when shopping for boat insurance.

Choosing an Insurance Provider

When selecting an insurance provider for your boat, it is crucial to research and compare different options. Look for insurers with a good reputation, financial stability, and excellent customer service. Request quotes from multiple companies to ensure you are getting the best coverage at a competitive price.

Review and Update Your Policy

Once you have obtained boat insurance, it is essential to review your policy regularly and update it as needed. Inform your insurance provider about any changes in your boat’s value, modifications, or changes in usage. Regularly reviewing your policy ensures that you have adequate coverage and that your insurance company has accurate information.


As a responsible boat owner in Colorado, complying with the state’s insurance requirements is crucial. By understanding the minimum insurance requirements, considering optional coverages, and choosing the right insurance provider, you can enjoy your boating adventures with peace of mind. Remember to review and update your policy regularly to ensure your coverage aligns with your needs.