You have several options when insuring your boat and it usually depends on the type of boat you have.

Perhaps more than any kind of insurance, it really pays to shop around for coverage for your watercraft. Depending on the type of craft you have, how fast it moves, where you operate it, etc., you could find that many policies are prohibitively expensive, or don't provide the coverage you need.

First, you need to know that there are three types of "boats."

• Anything less than 16 feet long is usually called "personal watercraft" by insurers. This includes jet skis, Waverunners, Tigersharks, Wet Bikes and Sea Dog "cycle" style models, as well as Jazz and Rage "mini boats."

• "Boats" are 16 feet to 25 feet, 11 inches.

• Anything at least 26 feet long is classified as a "yacht."

You will find that insurers have varying appetites for these types of watercraft. For this insurance, smaller is often not better. In fact, personal watercraft tends to be more accident-prone than most kinds of boats and yachts.

Some insurers won't provide coverage for your personal watercraft at all or won't unless it is a part of a larger policy. For some owners of personal watercraft, an insurer that specializes in this type of risk will be the best bet. Your policy should include coverage for injuries to you and your passengers, the craft itself, liability (for damage and injuries to other crafts and people) and theft.

Note. If you use your watercraft for water-skiing, you need to get coverage for this exposure as well. (It usually needs to be added to a standard policy.) You can also get coverage for the trailer(s) you use to transport the watercraft.