Boating in Illinois goes beyond cruising around Lake Michigan. The state is home to 2,900 lakes in addition to reservoirs and ponds. Of course, not all of these bodies of water allow for boats, but before you hit the water, you'll want to make sure you have boat insurance. 

Not all boats are created equal when it comes to the cost of protection, which is why an Illinois independent insurance agent is a good place to start when shopping for boat insurance policies. Take a look at some of the most expensive boats to insure in Illinois and how an agent can help you get adequate coverage.

What Are the Most Common Boats in Illinois?

Boats come in many shapes and sizes. From a small fishing boat with an outboard motor to a 50-foot yacht, you'll see different types of boats depending on the body of water you're on. 

Most popular boats currently for sale in Illinois

Boating in Illinois is not like the ocean, so the types of boats you'll find differ. Of course, Lake Michigan is the most common boating lake in the state. While you can have smaller boats on Lake Michigan, it's recommended that you use a boat that is at least 20 feet long in order to navigate the waters.

In addition to the Lake Michigan, there are hundreds of other lakes, streams, and ponds that can accommodate large and small boats. Illinois residents are known for hitting the waters for activities like fishing, sailing, water sports, and cruising.

How Do I Get My Expensive Boat Insured in Illinois?

The larger and more valuable your boat, the more it will cost to insure. A yacht in Illinois can be worth several million dollars, while an aluminum fishing boat can be around $20,000 to $35,000. Any boat should be insured, especially if it's worth a lot of money.

The easiest way to get your expensive boat insured is to work with an Illinois independent insurance agent. Agents understand boat insurance and where to purchase it. Boat insurance works like auto insurance in the coverage it provides.

Boat insurance coverages

• Property damage liability: Pays for any damage to a third-party boat or property if you're in an at-fault accident.
• Personal injury liability: Pays for any injuries that someone else sustains if you're in an at-fault accident.
• Comprehensive: Pays for any damage to your boat from weather or objects, like a branch in the water.
• Collision: Pays for any damage to your boat in the event of an accident.
• Uninsured boater: Pays for any damage to your boat if you're in an accident with an uninsured boater.

Your agent will shop multiple carriers to find you a policy that fits your needs and the type of boat you operate.

Do I Need Umbrella Coverage for My Boat?

Umbrella coverage is added liability insurance that steps in for claims that go above and beyond your standard liability policy limits. For boat owners who are using expensive vessels, it's a good idea to purchase personal umbrella liability insurance. This coverage starts at a $1 million coverage limit. 

How Much More Will I Pay to Insure My Expensive Boat?

As you can imagine, insuring a $2 million boat is going to cost higher premiums than a 10-foot fishing dinghy. In fact, small boats with minimal horsepower may be covered under a homeowners policy, but expensive boats won't be covered.

You and your agent will work together to set your policy limits and your deductible, which will determine your policy premiums. But protecting an expensive boat can cost thousands more than a less expensive boat. 

Here's an example of how much a 31- to 50-foot boat with no accident history could cost to insure.

Illinois boat insurance premiums by value

How an Illinois Independent Insurance Can Help

Because of the varying bodies of water in the state, Illinois is not known for one type of boat. Your needs will vary depending on the type of boat you have, what you'll do with it, and where you'll be taking it. An Illinois independent insurance agent keeps all this in mind when shopping your policies.

Agents will speak with you, free of charge, and provide you with several boat insurance quotes to choose from. They'll make sure that your expensive boat has enough coverage in case the unexpected happens.