Why Myrtle Beach Boat Owners Need Dedicated Coverage

Boat insurance protects your watercraft, your passengers, and your financial security when you take to the water in Myrtle Beach. Many boat owners assume their homeowners policy covers their vessel, but standard home insurance provides extremely limited protection for watercraft. Most policies cap boat coverage at $1,000 to $1,500 and exclude liability entirely once you leave your property.

Myrtle Beach offers exceptional boating opportunities along the Atlantic coastline, throughout the Intracoastal Waterway, and on inland lakes and rivers. With these opportunities come real risks: collisions with other vessels, storm damage, theft from marinas, injuries to passengers, and liability for damage you cause to other boats or property. A dedicated boat insurance policy addresses these exposures in ways homeowners insurance simply cannot.

Where Myrtle Beach Boaters Navigate

Understanding where you boat helps determine the coverage you need. Myrtle Beach and surrounding South Carolina waters offer diverse boating environments, each with unique risks.

Atlantic Ocean

Offshore fishing and cruising along the South Carolina coast expose your boat to open water conditions. Larger swells, sudden weather changes, and greater distances from shore increase the potential severity of incidents. Boats operating offshore typically need higher liability limits and comprehensive hull coverage.

Intracoastal Waterway

The Intracoastal Waterway runs through Myrtle Beach, North Myrtle Beach, Murrells Inlet, and down to Georgetown, providing protected waters for cruising, fishing, and watersports. Heavy boat traffic during summer months increases collision risk, while shallow areas and shifting sandbars create grounding hazards.

Waccamaw River and Inland Waters

The Waccamaw River and area lakes attract anglers and recreational boaters seeking calmer conditions. Submerged logs, stumps, and debris common in these waters can cause hull damage. Boats stored at river docks face different theft and storm exposure than those kept at coastal marinas.

Marinas and Storage Facilities

Where you store your boat affects both your coverage needs and premium costs. Boats kept at marinas face theft risk and potential damage from neighboring vessels. Boats stored on trailers at home or in dry stack storage have different exposures that your policy should address.

What Boat Insurance Covers

A comprehensive boat insurance policy includes several coverage components that work together to protect your investment and your liability.

Hull Coverage

Hull coverage protects the physical boat, motor, and permanently attached equipment against damage from collisions, storms, fire, theft, vandalism, and sinking. This coverage applies whether your boat is on the water, on a trailer, or in storage.

Boat insurance policies offer two valuation methods for hull coverage:

• Agreed Value: You and the insurer agree on the boat's value when the policy is written. If the boat is totaled, you receive this full amount regardless of depreciation. Agreed value policies cost more but provide certainty about claim settlements.
• Actual Cash Value: The insurer pays the boat's depreciated market value at the time of loss. A five year old boat will receive less than its original purchase price. Actual cash value policies have lower premiums but may leave you underinsured after a total loss.

For most Myrtle Beach boat owners, agreed value coverage provides better protection, especially for newer vessels or boats you have upgraded significantly.

Liability Coverage

Liability coverage pays for bodily injury and property damage you cause to others while operating your boat. If you collide with another vessel, damage a dock, or injure a swimmer, liability coverage responds to claims against you.

Boating accidents can result in serious injuries with substantial medical costs and legal claims. South Carolina does not require boat owners to carry liability insurance, but operating without it exposes your personal assets to lawsuits. Most Myrtle Beach boat owners should carry at least $300,000 in liability coverage, with $500,000 or higher recommended for larger vessels or those who frequently carry passengers.

Medical Payments Coverage

Medical payments coverage pays for injuries to you and your passengers regardless of who caused the accident. If a guest falls and breaks an arm while boarding your boat, medical payments coverage handles their immediate medical expenses without requiring a liability claim.

This coverage typically ranges from $5,000 to $25,000 per person and helps maintain relationships with injured guests by covering their costs quickly without disputes over fault.

Uninsured and Underinsured Boater Coverage

When another boater causes an accident but lacks insurance or carries insufficient coverage, uninsured and underinsured boater coverage protects you. This coverage pays for your injuries and damage to your boat when the responsible party cannot.

Many recreational boaters in South Carolina operate without insurance. Carrying uninsured boater coverage ensures a negligent operator's lack of coverage does not leave you paying for their mistakes.

Personal Effects Coverage

Personal effects coverage protects items you bring aboard that are not permanently attached to the boat. Fishing gear, electronics, clothing, coolers, and other personal property can be covered against theft, damage, or loss overboard.

Standard policies include limited personal effects coverage, often $1,000 to $5,000. Boaters with expensive fishing equipment, diving gear, or electronics should consider increasing this coverage or scheduling high value items specifically.

Towing and Assistance Coverage

When your boat breaks down on the water, towing and assistance coverage pays for on water towing to the nearest repair facility. Without this coverage, a single tow from offshore fishing grounds back to Murrells Inlet or Little River can cost $500 to $2,000 or more depending on distance and conditions.

Towing coverage typically costs only $20 to $50 annually and provides peace of mind for any Myrtle Beach boater venturing beyond swimming distance from shore.

Trailer Coverage

If you trailer your boat, your policy should cover the trailer against damage, theft, and liability while towing. Some boat policies include trailer coverage automatically while others require it as an add on. Verify your trailer is covered and understand whether the coverage is included in your hull limit or provided separately.

Personal Watercraft Insurance

Jet skis, WaveRunners, and other personal watercraft require the same insurance considerations as larger boats but involve some unique factors. Personal watercraft insurance covers these smaller vessels with policies tailored to their specific risks.

Personal watercraft face higher theft rates than traditional boats due to their portability. Their use patterns also differ, with more frequent operation in congested areas near beaches and in the Intracoastal Waterway where collision risks increase. Younger and less experienced operators often pilot personal watercraft, which affects both risk and premium calculations.

Coverage options mirror traditional boat insurance: hull coverage protects the watercraft itself, liability covers damage or injury you cause to others, and medical payments protect you and your passengers. Many insurers offer specific personal watercraft policies or can add PWC coverage to an existing boat policy if you own multiple watercraft.

What Boat Insurance Does Not Cover

Understanding exclusions helps prevent surprises when you need to file a claim. Standard boat insurance policies in Myrtle Beach typically exclude:

• Wear and tear: Gradual deterioration, mechanical breakdown, and normal maintenance are not covered perils
• Manufacturer defects: Defects in design or construction fall under warranty rather than insurance
• Marring and scratching: Cosmetic damage without structural impact may be excluded
• Ice and freezing damage: Damage from failing to winterize properly is typically excluded
• Damage while racing: Competitive use often requires separate coverage or a policy endorsement
• Commercial use: Using your boat for charter, rental, or other commercial purposes requires commercial marine coverage
• War and nuclear hazards: Standard exclusions that apply across most insurance types

Some exclusions can be removed or modified with endorsements. If you race your boat or occasionally use it for paid fishing trips, discuss these activities with your Myrtle Beach boat insurance agent to ensure proper coverage.

Hurricane and Storm Considerations

Boat owners in Myrtle Beach face significant hurricane exposure from June through November. How your policy handles named storms and hurricane damage directly affects your protection during the most dangerous time of year.

Named Storm Deductibles

Many boat insurance policies include separate deductibles for named storms, typically calculated as a percentage of the hull value rather than a flat dollar amount. A 2% named storm deductible on a boat insured for $50,000 means you pay the first $1,000 of hurricane damage out of pocket.

Some policies increase this percentage to 5% or even 10% for boats kept in coastal South Carolina. Understanding your named storm deductible before hurricane season helps you prepare financially for potential claims.

Haul Out Requirements

Some insurers require boat owners to haul their vessel and store it away from the water when a hurricane threatens. Failing to comply with haul out requirements can void your coverage for storm damage. Review your policy for any such requirements and have a hurricane plan ready before the season begins.

Navigational Limits

Boat policies specify geographic areas where coverage applies. A policy might cover your boat in coastal South Carolina and Georgia but exclude trips to the Bahamas. If you plan to cruise beyond your normal Myrtle Beach waters, verify your navigational limits extend to your intended destinations.

Factors Affecting Boat Insurance Premiums

Several factors influence what you pay for boat insurance in Myrtle Beach. Understanding these factors helps you find competitive rates and identify potential savings.

• Boat value: Higher value boats cost more to insure, though larger vessels sometimes have lower rates per dollar of coverage
• Boat type: High performance boats and personal watercraft typically carry higher premiums than fishing boats or pontoons
• Engine power: More horsepower generally means higher premiums due to increased speed and accident severity potential
• Operator experience: Boating safety courses and years of experience can qualify you for discounts
• Claims history: Previous claims affect your rates, making claims free operation valuable
• Storage location: Boats stored at home typically cost less to insure than those kept at marinas
• Geographic area: Coastal South Carolina rates reflect hurricane exposure and local theft rates
• Coverage amounts: Higher liability limits and lower deductibles increase premiums

Ways to Reduce Your Premium

Several strategies can help lower your Myrtle Beach boat insurance costs:

• Complete a boating safety course: Many insurers offer 5% to 15% discounts for certified boaters
• Bundle with other policies: Combining boat insurance with home and auto coverage often qualifies for multi policy discounts
• Increase your deductible: A higher deductible reduces premiums if you can absorb more out of pocket costs
• Install safety equipment: Fire suppression systems, alarms, and GPS tracking devices may qualify for discounts
• Pay annually: Paying your premium in full rather than monthly installments often saves 5% to 10%
• Maintain a clean record: Claims free years result in better rates over time

South Carolina Boating Requirements

South Carolina law does not require boat owners to carry insurance, but understanding state boating regulations helps you operate legally and safely.

Registration Requirements

All motorized boats operated on South Carolina waters must be registered with the South Carolina Department of Natural Resources. Registration must be renewed every three years. You can verify registration requirements and complete renewals through the SCDNR boating registration page.

Boater Education

South Carolina requires anyone born after June 30, 1988 to complete an approved boater education course before operating a motorized vessel. Course completion earns you an education card that must be carried while boating. This requirement applies regardless of whether you own the boat or are operating someone else's vessel.

Safety Equipment

State and federal law require specific safety equipment on board depending on your boat's size. Requirements include personal flotation devices for all passengers, fire extinguishers, sound producing devices, and visual distress signals for certain vessels. Operating without required safety equipment can result in fines and may affect insurance coverage if an incident occurs.

Filing Boat Insurance Claims

Knowing how to handle a boat insurance claim before you need to file one helps ensure fair and timely settlement.

At the Scene

If an accident occurs, ensure everyone's safety first. Exchange information with other parties involved, including names, contact information, boat registration numbers, and insurance details. Take photographs of all damage to your boat and any other vessels or property involved. Note the location, time, weather conditions, and circumstances of the incident.

For accidents involving injuries or significant property damage, contact the South Carolina Department of Natural Resources. Boating accidents resulting in death, disappearance, or injury requiring medical treatment beyond first aid must be reported to SCDNR.

Reporting Your Claim

Contact your insurance company promptly to report the incident. Provide the documentation you gathered at the scene and answer questions about what happened. Your insurer will assign an adjuster to evaluate the damage and determine coverage.

Get repair estimates from qualified marine mechanics or boat repair facilities. Your insurer may have preferred repair shops or may allow you to choose your own. Keep all receipts and documentation related to temporary repairs or storage needed to prevent further damage.

Disputes and Settlements

If you disagree with the damage assessment or settlement offer, you have options. Request a detailed explanation of how the adjuster reached their valuation. Provide additional documentation or repair estimates supporting your position. Most policies include dispute resolution procedures if you cannot reach agreement with your insurer.

Why Work with Moore and Associates

Moore and Associates has helped Myrtle Beach boat owners protect their watercraft since 1979. As an independent insurance agency, we work with multiple marine insurance carriers to find coverage that fits your specific boat, how you use it, and your budget.

Our local agents understand boating in South Carolina waters. We help boat owners throughout Myrtle Beach, North Myrtle Beach, Little River, Murrells Inlet, Pawleys Island, and Georgetown find appropriate coverage, navigate policy options, and secure competitive rates for their vessels.

Get a Boat Insurance Quote in Myrtle Beach, South Carolina

Our boat insurance agents serve Myrtle Beach, South Carolina and surrounding areas including North Myrtle Beach, Atlantic Beach, Conway, Surfside Beach, Murrells Inlet, Litchfield, Pawleys Island, and Georgetown. Contact Moore and Associates today for a free quote and protect your watercraft with coverage designed for South Carolina boaters.