They say a rising tide lifts all boats. The economic recovery has certainly been good to the recreational boating industry.

A record 88.5 million Americans – or nearly 37 percent – participated in recreational boating at least once in 2013, according to the National Marine Manufacturers Association. 

An estimated 166,800 new powerboats and sailboats sold at retail 2013. If you own a boat, boat insurance will help you protect your investment and your financial security should you be involved in an accident.

Here’s a list of boat insurance options gleaned from Erie Insurance’s website, Eriesense.com: 

1. Liability: Covers damage that a boater might cause to someone’s property or if you cause an injury to someone. 

2. Physical damage: Protects your boat, including permanently attached equipment, boating equipment and accessories, outboard motors and boat trailers. 

3. Named perils: Protects you should an accident result from “fire, lightning, cyclone, tornado, windstorm, theft, vandalism or malicious mischief, collision while waterborne, collision, overturn and derailment on land or the loss of the entire motor overboard.”

4. Uninsured boater: Covers insured boaters if they are involved in an accident with an uninsured boater. 

5. Medical payments: Covers injuries sustained on a boat.

6. Emergency services: Covers you in case emergency service to your boat is required. 

7. Boating equipment and personal effects: Covers items you bring on your boat, such as clothing, fishing equipment, canopies, tools, radios and cameras. 

To learn more about boat insurance and your coverage options, contact a local insurance agent.

Don’t miss the boat.