This policy is designed for all types of watercraft. If the boat is larger than 26 feet in length or has an engine with more than 25 horsepower, it is normally not covered under a homeowner policy and a boat owner policy is required. This policy can be written to cover your boat, fishing, skiing, communication equipment, etc., as well as any trailer used to haul the watercraft. Premiums are based on the type of boat, value, geographical area of use, and both the motor vehicle and boating experience of the operators. Coverage normally includes fire, lightning, wind, hail, explosion, earthquake, vandalism, malicious mischief, theft, collision, stranding, capsizing, sinking, etc.