Insurance FAQs

The right amount depends on your vessel, how you use it, and what you have to protect. Liability limits should be high enough to cover a serious accident — on water as crowded as Lake of the Ozarks, many boat owners carry $300,000 to $500,000 or more, and larger or high-performance vessels often warrant higher limits or umbrella coverage. Hull coverage should reflect your boat’s value, ideally on an agreed value basis. Our coverage guide for Missouri boaters covers how much you might need for each vessel type.

Missouri law does not require boat insurance. There are also currently no Missouri insurance requirements for lakeside property and other assets. For reference, Missouri law requires only auto insurance with minimum liability coverage for motor vehicles. However, lenders typically require coverage on financed boats and homes, and many marinas require proof of liability insurance for slip rentals.

Deciding whether to go through an insurance claims process or pay out-of-pocket depends on several factors, including your deductible, the cost of damages, and the potential impact on your premiums. Our advisors can help you assess the situation to make the most financially sound decision for your circumstances.

Yes. According to the Missouri Department of Labor, if you operate a contracting business in Missouri and have one or more employees, you are required to carry workers’ compensation insurance. This coverage protects both your employees and your business from the financial burden of workplace injuries.

Contractors working on lakefront projects in the Lake of the Ozarks face unique challenges associated with the location and the construction of high-value properties. Contractors on lakefront projects face exposures beyond a typical job site. Equipment and materials are vulnerable to theft and damage on open sites with limited after-hours supervision — exposures addressed by inland marine and builder’s risk coverage. Working over or near the water can also add liability considerations that standard policies don’t contemplate. Robust contractor insurance built for these projects covers the gaps.