Watercraft Endorsements

Includes copyrighted material of Insurance Services Office, Inc., with its permission.

May 9, 2017

Water sports are tremendously popular and include cruising, sailing, racing, rowing, diving, snorkeling, sightseeing, waterskiing, and other recreational activities. The 2011 National Recreational Boating Survey reported 22.2 million boats within the United States. Boats can range from canoes to luxury yachts. The most popular boats are power boats, followed by row or inflatable boats. In 2015 there were 11.87 million registered boats. Not all boats need to be registered however; canoes, kayaks, and many other small boats are not required to be registered.

Boats, like any other vehicle, have their risks of damage or injury to passengers or others. Insurance is of course needed. ISO has a watercraft policy WT 00 01 01 10 to provide needed coverage. As with any policy, there are some things that an insured may want to add that is not needed by all insureds. Various endorsements are used to provide such coverage. This article analyzes the ISO watercraft endorsements.

Topics covered:

Personal Watercraft Coverage WT 05 01

Watercraft Agreed Value Coverage WT 05 02

Watercraft Joint Ownership Coverage WT 03 01

Watercraft Additional Insured – Lessor WT 03 02

Watercraft Increased Limits Towing and Assistance Expense Coverage WT 03 03

Watercraft Haul Out Expense Coverage WT 03 04

Uninsured Watercraft Coverage WT 04 01