Actually, when we talk of boat insurance, we can view it to be a mixture of auto and home insurance. Just like a home policy, the boat insurance policy will have you covered in case you or somebody else gets an injury while in the boat. The insurance will table for you two options; either to give you the cash that your boat is worth, or give you the amount equivalent to what you will use to fully repair it.
On the other hand, boat insurance s similar to auto insurance in a way because it will cover your property in case it gets faulty due to an accident. People in the boat too will be covered, in case they get injured while in the boat.