Boat Insurance Details

Specific coverage options vary by state in the boat program, but we have a wide list of included and optional coverage.

Discounts

Prior insurance – 15% if no lapse in coverage, 10% if less than a 30-day lapse

Loss free renewal – 5% on first renewal, 10% on successive years

Experience – We will adjust the rate to reflect your boating experience.

Diesel fuel engine – 5%

 

Included coverage

You are covered for your liability, plus collision damage and comprehensive losses to your boat. A liability-only policy is an option in some circumstances.

Three loss settlement options –

  • Agreed value – The policy specifies a specific value for the vessel that will be paid in the event of a total loss or theft.
  • Replacement cost – The lost craft will be replaced with the same or comparable model. Boats up to 3 years old are eligible for this option.
  • Market value – Total losses are settled for the market value (actual cash value), which includes

Consequential damage – If one of the listed exclusions causes the boat to sink, burn or collide, any damage from those events is eligible for coverage.

Damage from under/uninsured watercraft – Covered up to an amount equal to the liability limit.

Fishing gear/personal effects – Coverage starts at $5,000 and can be increased to $10,000.

Emergency assistance and towing – Reimbursed up to $2,500/occurrence ($5,000/term) plus up to $10,000 for search and rescue.

Haul out coverage

Accidental spill pollution

Liability extension – Your policy’s liability provisions apply when you rent or use someone else’s watercraft.

Medical payments – Policy includes $1,000 of coverage which can be increased up to $25,000.

Wide coverage – You can participate in the occasional fishing tournament, regatta, and ski contest.

Wide navigation – We’ll cover your boat in all waters of the U.S. and Canada, plus Mexico’s Pacific coast (north of Rio Santo Tomas, Baja), the international shared lakes between Mexico and Texas, and optional navigation to the Bahamas.

 

Optional coverage

Advantage Plus, Yacht Plus or Pro Angler endorsements

Diminishing deductible

Trailer or boat lift – Add physical damage coverage for a trailer designed to transport your insured boat or the lift to take it out of the water.

Watersport liability – Add protection beyond general liability. Required for ski boats.

 

Flexible payment options

Automate monthly installments with EZPay, or pay by check or credit card, either in full or in two payments.

Learn More

Regular boat maintenance extends its life, conserves fuel, and protects the safety of your passengers.

Prepping your boat for that first outing depends on the type of boat – a pontoon, bass boat and ski boat are different – and where it was kept over the winter – in or out of water. Here are five points to consider.

Keep reading