Best Boat Insurance Of 2024

Allstate Boat Insurance Options

In addition to typical boat insurance coverage options, Allstate offers:

Allstate’s Premier Boatowners Option  package provides coverage for:

• Uninsured watercraft liability insurance (for accidents caused by uninsured boats)
• Repair cost option when a boat is damaged but not totaled
• Emergency Services

Allstate’s Premier Plus Boatowners Option  provides everything in the Premier package and adds an “agreed value” option. This pays you an agreed amount if your boat is totaled.

Emergency Services  coverage pays for service up to a certain amount, such as $1,000.

The Repair Cost Option  covers the boat, motor, boat equipment and/or trailer for damage.

Allstate Boat Insurance Discounts

Multiple policy discount  when you also buy an Allstate auto, homeowners, condo, mobile home or manufactured home policy.

Boating education discount  when you complete a safety education course approved by the United States Coast Guard Auxiliary, United States Power Squadron or a watercraft enforcement agency of any state.

Homeownership discount  when you or your spouse own a house, condo, mobile home or manufactured home.

Organization discount  for boaters who are members of an organization that promotes safe boating such as the United States Coast Guard Auxiliary or United States Power Squadron.

Allstate Easy Pay Discount  for using Allstate’s payment plan.

Full pay discount  when you pay the total bill.

Early signing discount  when you complete your application at least a week before coverage begins.

Geico Boat Insurance Options

Trailer Assist Roadside Coverage

By adding this endorsement you’ll get coverage for your towing vehicle and insured trailer for expenses such as towing the trailer to the nearest repair facility, flat-tire roadside assistance, battery jumpstarts, fuel delivery and more.

Towing and Assistance Coverage

This pays to tow your boat or trailer from the water or a road to the nearest safe location. Assistance can include delivering gas, oil, tires or replacement parts and the labor at the site. But note that the cost of the gas, oil, tires or parts aren’t covered.

Coverage for Hired Crew

This endorsement extends your Geico boat liability insurance to liability arising from the Jones Act, Death on the High Seas Act or General Maritime Law.

Mechanical Breakdown

If your boat is less than 11 years old and you’re buying hull and towing coverage, you may be eligible to add Geico’s mechanical breakdown coverage for boats.

Ice and Freeze Coverage

This add-on coverage pays you the boat’s actual cash value if it’s damaged by ice and freezing. Without it, ice and freezing is generally excluded.

Charter Guide

You can add insurance if you use your boat as a charter guide service, such as taking customers out on fishing or sightseeing excursions.

Cruising Limit Extensions for the Bahamas or Bahamas and Caribbean

Geico boat insurance generally covers you in U.S. and Canadian coastal and inland waters. You can buy add-on coverage that extends your insurance when you’re boating within certain latitudes and longitudes that are excluded by the main policy, such as the Caribbean, Turks and Caicos, Mexico, Belize and other locations.

Private Dock Liability

This endorsement adds liability coverage for your private dock to your main boat liability insurance.

Captain’s Liability

Do you employ a captain or other paid crew? This endorsement would make them a named insured on the boat insurance policy.

Geico’s Platinum Plus Boat Insurance

Geico’s Platinum Plus is a boat insurance package that offers increased coverage amounts for emergency services, medical payments, personal effects and additional marine environmental damage.

It also adds hurricane preparation coverage that will pay 50% (up to a set dollar limit) to have your boat professional moved when there’s a Tropical Storm or Hurricane watch or warning. It also pays for lashing into ground anchors. It has some post-storm benefits as well for power washing and relaunch.

The Platinum Plus package also lowers your deductible for your dinghy, outboard and navigational electronics.

Geico Boat Insurance Discounts

Look for these possible discounts if you’re buying Geico boat insurance.

Boat safety course or training discount  if you’ve completed an approved boating safety course.

Multiple policy discount  if you have more than one boat insurance policy or another Geico policy.

Years loss-free discount  based on the number of years you’ve been insured and had no claims (excluding claims for hurricane, lightning and towing).

You may have the option to add a “diminishing deductible” for your hull and equipment coverage. For every year you don’t have a hull and equipment claim, your deductible for that coverage will be reduced by 25%.

Is Your Boat Eligible for Geico Boat Insurance?

Here are some of the rules typically used by Geico to determine whether a boat is eligible for coverage:

• Hull length overall is less than or equal to 70 feet.
• Boat must be less than 50 years old.
• The boat can’t have more than four engines.

Markel Boat Insurance Options

Markel has a wide variety of coverage choices that you can add beyond the basic boat insurance.

Replacement cost coverage

If your boat is less than three years old and is totaled or stolen, Markel will pay for a new boat of the same type, make, class and size.

Consequential damage

Covers damage from fire, explosion, sinking and more that’s due to wear and tear.

Ice and freezing damage

This pays for engine damage when you bought winterization services that didn’t work.

Ultimate drive coverage

Pays for repair or replacement of an outboard or sterndrive in the event of a mechanical breakdown due to wear and tear or defect.

Boat lift coverage

This adds coverage for your boat lift.

Fishing equipment coverage

This add-on will pay to replace fishing gear such as trolling motors rods and reels, lures, tackle boxes and depth finders.

Fishing tournament fee reimbursement

Reimburses you for a non-refundable entry fee if you have to miss a fishing tournament for reasons listed in the policy, such as injury, damage to your boat or a breakdown of your towing vehicle while on the way there.

Racing endorsement

Extends coverage for boat racing.

Port risk ashore

For boats that will be out of the water.

In water port risk and show use

Coverage if the boat is in a show.

Business coverage

You can add extra liability insurance if you earn money from your boat, such as charters and paid guides.

Markel Boat Insurance Discounts

Advance quote discount

Based on how far ahead you get your boat insurance quote before the policy effective date.

Classic boat club member

A discount off your boat liability and physical damage coverage if you are a member of a Classic Boat Club.

Is Your Boat Eligible for Markel Boat Insurance?

Markel may use these rules to determine whether a boat is eligible for coverage:

• Length must be equal to or less than 26 feet.
• Speed must be less than or equal to 120 mph.
• Cannot have more than two main propulsion engines and an auxiliary motor.
• Horsepower cannot exceed the manufacturer’s maximum capacity.

Progressive Boat Insurance Options

Wreckage Removal

Wreckage removal is included when you buy physical damage coverage for your boat, or you can add it. If you’re legally required to remove a wreck, this coverage will apply. Or you’re not legally required to remove the wreck, this coverage can pay for removal under physical damage coverage.

Water Sports Coverage

This is included with Progressive boat liability insurance and covers injury and property damage caused by a person who’s being towed behind your boat for a water sport such as water skiing, wakeboarding and tubing.

Total Loss Replacement Cost/Purchase Price

If your new boat is totaled, this pays to replace it, rather than paying only actual cash value. Owners of boats five years old and older can receive the original purchase price. This coverage includes a diminishing deductible.

Roadside Assistance

Progressive’s roadside assistance coverage for boat owners will get your towing vehicle or trailer to the nearest qualified repair facility.

Fishing Equipment

You can add Progressive’s fishing equipment coverage when you buy physical damage coverage for a boat.

Coastal Navigation

Progressive’s boat insurance policies limit coverage to within 75 nautical miles of the U.S. and Canada and include all inland lakes and rivers. You can buy an add-on that extends your coverage to 125 miles.

Sign & Glide

This add-on to Progressive boat insurance provides water towing and emergency services (such as fuel or a jump-start) if your boat becomes disabled on the water.

Propulsion Plus

Propulsion Plus is available on boats less than 11 years and when you’re also buying Sign & Glide and comprehensive and collision coverage. It’s coverage for the lower units of outboard motors, and the upper and lower units of inboard/outboard motors, if you have a mechanical breakdown, including breakdowns caused by wear and tear.

Trailer Trip Interruption

If you also have roadside assistance for your boat trailer, this pays for meals, transportation and hotel if your towing vehicle or trailer breaks down while you’re towing your boat more than 100 miles away from home.

Hurricane Haul Out

Progressive’s Hurricane Haul Out coverage (not available in all states) applies when there’s a Tropical Storm or Hurricane watch or warning in the county where the boat is located. It reimburses you 50% of the cost to get your boat out of the water.

Progressive Boat Insurance Discounts

• Multi-vehicle discount  for insuring two or more watercraft.
• Multi-policy discount  if you have a Progressive insurance for your home, condo, car or other property.
• Paid in full discount  when you choose the one-pay bill plan.
• Homeowner discount  for owning a house, condo, co-op or manufactured home.
• Original owner discount  if you are the first title-holder to the watercraft.
• Idle assisted steering discount  if your personal watercraft has this feature.
• Boating safety course discount  if you’ve completed a safety course offered by approved organizations like the United States Power Squadron.
• Transfer discount  if you’ve had previous watercraft insurance.
• Responsible driver discount  for people who have not been charged for any accidents or violations on the policy.
• Claim-free renewal discount  when you’ve had no at-fault claims the previous policy year.
• Prompt payment discount  is applied to new policies and then renewals when you’ve had no late payments in the last year.
• Advance quote discount  that varies based on how far ahead you got your quote before the policy effective date.
• Electronic funds transfer discount  when you use the EFT payment bill plan.

Is Your Boat Eligible for Progressive Boat Insurance?

Here are some of the rules typically used by Progressive to determine whether a boat is eligible for coverage:

• No watercraft with maximum speeds over 75 mph (90 mph for bass boats)
• The boat can’t have more than two engines (other than trolling), with some exceptions.

In addition to insurance for liability, boat damage, medical payments and uninsured boaters, Progressive’s boat insurance has the following options.

State Farm Boat Insurance Options

State Farm’s standard boat insurance typically includes:

• Emergency service including mechanical labor at the place of breakdown and towing.
• Wreck removal  coverage for expenses for raising, removal or destruction of your wrecked boat.
• Fuel spill liability  coverage when you’re legally liable for a spill resulting from owning, maintaining or using your boat.
• First aid expenses coverage reimburses you for costs related to giving first aid to others.

A State Farm boat insurance policy can also provide:

Fishing Tournament Fee Reimbursement

Adding this endorsement means you’ll be reimbursed for pre-paid and non-refundable fishing tournament fees if your boat is damaged and disabled, your towing vehicle broke down, you’re hospitalized for an illness or injury, and other problems.

Boat Rented to Others

This gives you coverage when you rent your boat to others for their personal (not business) use.

State Farm Boat Insurance Discounts

Safety course  discount if you complete an approved course from a provider such as the U.S. Coast Guard Auxiliary or the U.S. Power Squadron.

Diesel power discount on basic hull and liability premiums (not available in all states).