What is the difference between agreed value and actual cash value boat insurance?

Agreed value coverage pays the full insured value in a total loss with no depreciation deducted. Actual cash value coverage pays the depreciated market value of the vessel at the time of loss. For boats worth $20,000 or more agreed value coverage is almost always the better choice despite the higher premium.

Does boat insurance cover fishing equipment in Tennessee?

Yes — personal effects coverage on a boat insurance policy protects fishing gear, electronics, rods, tackle, and other personal property aboard your vessel up to the policy limit. Higher value electronics may require a separate scheduled endorsement.

Does boat insurance cover towing on Tennessee lakes?

Yes. Emergency towing and assistance coverage is included in most comprehensive boat insurance policies and covers on-water towing, fuel delivery, and salvage. Coverage limits vary by policy so review your terms carefully before heading out on the water.

Do I need separate insurance for my jet ski or personal watercraft in Tennessee?

Yes. Most insurers require standalone policies for personal watercraft with motors over 25 horsepower. A homeowners policy typically excludes jet ski liability away from your property. A dedicated personal watercraft policy provides proper liability and hull coverage for PWC use on Tennessee lakes.

What lakes in Tennessee does Knoxville Insurance Store cover?

We provide boat insurance coverage for Tennessee boaters on all major lakes including Norris Lake, Cherokee Lake, Douglas Lake, Watts Bar Lake, Tellico Lake, Chickamauga Reservoir, Percy Priest Lake, Center Hill Lake, and Dale Hollow Lake. We are licensed to write boat insurance across all of Tennessee.

Boat Insurance Tennessee | Boats, Jet Skis & Yachts

Q: Is boat insurance required in Tennessee?

Tennessee does not require boat insurance by law for most vessels. However most marinas require proof of liability coverage for slip rental and dock access. Personal watercraft may be subject to minimum liability requirements. Even where not required, boat insurance is strongly recommended to protect against bodily injury, property damage, and covered loss costs.

Q: How much does boat insurance cost in Tennessee?

Boat insurance in Tennessee typically costs $300 to $600 annually for most recreational boats. Liability-only policies can cost around $100 per year. Personal watercraft and jet skis typically run $200 to $500 annually. Yachts and high-value vessels typically cost 1% to 2% of the boat's value annually. Factors affecting cost include vessel type, value, horsepower, storage location, and boating history.

Boating Insurance

Request a Quote

🚤 Boat Insurance Tennessee — Because Lakes Are Fun… Claims Are Not
Tennessee has over 245,000 registered boats and some of the best lakes in the Southeast. Norris, Cherokee, Douglas, Watts Bar, Tellico, Chickamauga—if it floats, it’s probably out there.

And if you own one, you need boat insurance Tennessee that actually covers how you use it.

At Knoxville Insurance Store, we compare boat insurance from multiple carriers so you don’t end up with a one-size-fits-all policy that leaves gaps. Whether it’s a bass boat, pontoon, jet ski, or yacht—we’ll help you protect it (and your wallet).

Do You Need Boat Insurance in Tennessee?
Short answer: not legally required.
Real answer: you probably still need it.

Here’s why:

Most marinas require liability insurance to rent a slip
Boating accidents can cause serious injury and property damage
Tennessee reported millions in boating-related damage annually
Without coverage, you pay out of pocket
👉 Translation: just because the state doesn’t require it doesn’t mean you want to go without it.

What Does Boat Insurance Cover?
Boat insurance in Tennessee covers your vessel, your liability, and the stuff you bring on board.

Most policies include:

Hull coverage — damage from collisions, storms, fire, theft
Liability coverage — injury or property damage to others
Medical payments — covers passengers, regardless of fault
Uninsured boater coverage — because not everyone carries insurance
Personal effects — fishing gear, electronics, etc.
Emergency towing — when your boat decides it’s done for the day
Environmental coverage — oil spills and related damage
If it can break, sink, or cause a problem—it should be covered.

Agreed Value vs. Actual Cash Value (This One Matters)
This is where people either make a smart decision… or regret it later.

Agreed Value
Pays the full insured value
No depreciation
Best for newer or high-value boats
Actual Cash Value
Pays depreciated value
Lower premium
Lower payout at claim time
👉 If your boat is worth $20,000+, agreed value is usually the better move.

How Much Does Boat Insurance Cost in Tennessee?
Boat insurance cost depends on what you own and how you use it.

Typical ranges:

Liability only: around $100/year
Recreational boats: $300–$600/year
Jet skis / PWC: $200–$500/year
Yachts: ~1%–2% of value annually

Ways to Lower Your Premium
Store your boat at a marina
Take a boating safety course
Increase your deductible
Bundle with home or auto insurance
Keep a clean boating record
(Yes, insurance companies do notice if you drive your boat like a maniac.)

Types of Boats We Insure in Tennessee
At Knoxville Insurance Store, we cover just about everything that floats:

Bass Boats & Fishing Boats
Coverage for hull, equipment, and all that expensive fishing gear.

Pontoon Boats
Popular on Tennessee lakes—and yes, they still need liability coverage.

Jet Skis & Personal Watercraft
Higher risk = higher need for proper liability protection.

Sailboats
Specialized coverage with agreed value options.

Yachts & High-Value Boats
Higher limits, specialized coverage, and marina requirements handled correctly.

Tennessee Lakes Come With Real Risk
Each lake has its own personality (and hazards).

Norris Lake → submerged stumps
Chickamauga → highest incident rates
TVA lakes → fluctuating water levels
👉 Translation: it’s not just “relaxing lake time”—there’s real exposure.

We build policies that reflect how and where you actually use your boat.

Boat Insurance FAQ (Quick Answers)
Is boat insurance required in Tennessee?
No, but most marinas require it—and it’s strongly recommended.

Does boat insurance cover fishing equipment?
Yes, personal effects coverage protects rods, tackle, and electronics.

Does it cover towing?
Yes—most policies include emergency towing and assistance.

What affects my premium?
Boat value, horsepower, storage, usage, experience, and claims history.

Do I need separate insurance for a jet ski?
Yes. Most homeowners policies exclude it—get a dedicated policy.

How to Get a Boat Insurance Quote in Tennessee
Getting covered is simple.

We’ll need:

Boat type and value
Usage (recreational, fishing, etc.)
Storage location
Boating experience
From there, we:

Compare multiple insurers
Build coverage options
Help you choose the best fit for your budget

Why Knoxville Insurance Store?
We’re independent—which means more options and better coverage.

At Knoxville Insurance Store, we:

Compare multiple carriers
Customize coverage for your boat and usage
Help avoid coverage gaps
Keep things simple and clear
Actually answer the phone
No scripts. No confusion. Just solid coverage.

Get Your Boat Insurance Quote Today
Ready to protect your boat?

Call Knoxville Insurance Store or request a quote online.

We’ll help you:

Compare options
Find the right coverage
Protect your boat, your passengers, and your investment

📍 11002 Kingston Pike Suite 103, Knoxville TN
📞 (865) 579-0500
Serving all of Tennessee