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Sailboat Insurance Guide: Costs, Requirements & More

By John Miceli

O wning a sailboat is freedom. Navigating the oceans, rivers, and lakes of the world under sail brings about feelings you can’t replicate anywhere else. To properly protect your vessel, and protect your ability to take the world’s waters by storm, you need insurance for your sailboat.

Below, we’ve tried to answer any questions you may have about insuring your sailboat by explaining many, many aspects of boat insurance coverage . Here’s everything you need to know about sailboat insurance.

Sailboat Insurance: The Basics

Your boat can get damaged when it’s in use, when it’s stored, when it’s floating at your dock, or when it’s sitting in your yard. You can also be liable for expenses if you injure someone or damage someone else’s property with your boat.

Boat insurance is designed to protect you and your vessel from financial loss. Depending on the policy you choose, your boat insurance can reimburse you in every one of these scenarios. You don’t usually need to find a specific sailboat insurance provider unless you’re looking for coverage for worldwide cruising or your boat is exceptionally large. Otherwise, most insurance companies that write policies for boats are equipped to handle all types of vessels , from small dinghies and jet skis to yachts and sailboats.

However, even though you don’t need a special provider, there are a few specifics and considerations to know when looking for insurance for a sailboat.

What Sailboat Insurance Covers

An insurance policy that covers your sailboat for damages it could incur is usually referred to as a comprehensive , or full, insurance plan. These policies will typically cover your boat from fire, lightning, sinking , vandalism and theft . Policies can also include coverage for weather events like high winds, hail, and hurricanes , although your carrier may have some stipulations about coverage from such severe weather.

Boat insurance is highly customizable. In addition to the above protections, many policies also include some coverage for wreckage removal and fuel spill cleanups. Some include towing coverage in case of emergencies. You may also purchase dedicated protection for your fishing equipment, mechanical breakdowns, and more.

When getting covered for damage to your boat, you typically either get reimbursed for the replacement cost of what was damaged or for the actual cash value of the item or part. For sailboats, even with replacement cost coverage, sometimes certain parts are only covered on an actual cash value basis because the insurance company doesn’t deem them permanent fixtures of the vessel. These parts may include sails and rigging, as well as anchors, tarps, dock lines, and some electronics on your boat.

For instance, let’s say the sail on your 15-year-old sloop tears. Even though a new sail of the same quality as your initial one may cost $2,500, your insurance company may reimburse you less than that, say $1,000, if they cover your sails on an actual cash value basis since they believe the sail had depreciated over time.

Depreciation formulas vary by company. But, be aware of this possibility, as you may want to ask your provider about depreciation on partial losses.

Sailboat Insurance Cost

The cost of sailboat insurance varies by the age of your vessel, its length, its motor type, and the boat’s location. But, sailboat insurance usually costs a few hundred dollars a month, or between 1% and 5% of your vessel’s value. For instance, if you have a $200,000 sailboat, and insurance is about 2% of its value, it could cost you $4,000 per year to cover it, which comes to about $333 every month.

The size and number of motors your boat has influences the cost of insurance. Generally, the more you have, the more it costs to cover your boat. This aspect of coverage can make sailboat insurance more affordable than for a powerboat of a similar size, as sailboats typically have fewer and less powerful engines.

The material your sailboat is built from also affects how much you’ll pay for boat insurance. Insurers prefer fiberglass hulls or aluminum hulls, as opposed to wooden or steel ones. Some companies won’t cover wooden or steel hulls at all.

Insurance companies also offer many discounts to bring down your boat insurance rate. Completing certain boater safety courses could qualify you for a discount. Bundling your boat insurance with other policies you have can save you money. And, in some cases, your carrier could reward you for moving your sailboat out of potential hurricane danger zones during hurricane season.

You may also be able to change your rate by adjusting your deductible. Opting for a higher deductible, meaning vowing to pay more out of pocket for damages, can decrease your premiums. But, you may have different deductibles for different components of your sailboat. Fishing equipment, personal items, and portable items may have different deductibles, and your mast may have a separate deductible in case it gets damaged.

Having sailing history or experience is a plus when it comes to your insurance rate, too. Generally, if you have a long, safe track record of sailing, this will be reflected favorably in your premium.

Don’t get sunk by unexpected damages.Keep your vessel safe with a policy from one of the nation’s top carriers.

Sailboat Insurance Requirements

Generally, there are only two scenarios when you’re required to have an insurance policy on your sailboat. The first is if you have a loan on it, and your lender mandates a policy to protect their investment. The second is if you want to store your sailboat in a marina or yard, and they require you to have liability insurance to do so.

In the United States, the government will never make you get insurance for your sailboat unless you live in Utah or Arkansas, the only two states that require boat insurance. So, you won’t usually be required to get a policy. But, when you’re getting one, there are a few prerequisites you’ll want to know no matter where you are.

Most of the major boat insurance carriers have size, value, and age limits when it comes to covering boats. If your boat is too big, too old, or too valuable, you’ll need to find a specialty insurer.

Progressive, for instance, doesn’t usually accept boats over 10 years old valued over $500,000, boats 11-20 years old valued over $250,000, or boats over 20 years old valued over $60,000. And, they won’t usually accept any boat over 50 feet long. Geico won’t accept any boat over 70 feet in length, or any vessel valued over $2,500,000.

Most insurers also won’t accept houseboats, or a sailboat you’re permanently living on. And, carriers typically don’t accept boats that were previously deemed a total loss by another insurance company in the past.

Some companies may make you pay more for insurance on a catamaran than for a monohull. It varies by provider. Since catamarans have more hulls and more engines, they’re generally more expensive than a monohull of the same size, thus it costs more to replace or repair if it were damaged. They’re also more difficult to refloat if they sink since they can’t be righted as easily as a monohull.

As we mentioned earlier, there are a lot of variables that go into the cost of the boat insurance policy, but just be aware that some companies are friendlier towards catamarans than others.

What You Need For a Sailboat Insurance Quote

When you’re ready to get a quote for an insurance plan to protect your sailboat, there’s some basic information you’ll need. It’s normal for carriers to ask for your boat’s:

Make and model, including the year it was built and its length
Hull identification number
When you bought the boat
How much you paid for the boat
Where and how (wet dock, dry dock, in a marina, in your backyard, etc.) the boat will primarily be stored
Personal information such as your name, address, email address, and your boating history

Insurance companies know sailboats are used relatively often for long-distance trips. You may be asked to define a navigation area when you’re getting a sailboat insurance quote, too. Some companies won’t insure you outside of the navigation area you define, while others will cover you at the expense of higher premiums.

If you’re an active cruiser, the insurance company will likely be quite interested in your boating experience. Before giving you an insurance policy to take your sailboat around the globe, insurers usually require significant boating experience. You may not get a policy if you’re new to cruising or don’t have a lot of experience in open waters.

You may also be asked if or when you’ve had a marine survey done to your boat. A survey report done by a licensed professional gives the insurance company a detailed description of the overall condition of the boat. The engine, rigging, and other systems will be assessed. It helps the insurer determine the boat’s value.

You might not need a survey for a new sailboat. But, many insurers won’t cover older boats without a survey. The age at which boats require a survey varies by company, but it may be any boat older than ten or fifteen years.

The Best Sailboat Insurance

The best sailboat insurance is the one that covers all your bases with any desired add-ons at an affordable price. The best sailboat insurance for one person may not be the best for another; there is no hands-down best boat insurance company. This is why it’s vital to shop around and compare prices.

It also depends on your boat. Some companies may be better suited to cover older or especially large boats than others. You need to find the policy that’s right for you.

An important part of boat insurance is liability coverage . You probably don’t want to carry just the minimum amount, which is usually around $100,000. Most providers would recommend at least $500,000 to $1,00,000. Medical expenses and property damage bills can rack up quickly after an accident. You don’t want to be lacking liability coverage when you need it.

Additionally, the best sailboat insurance is probably the one that covers the most. A comprehensive policy that includes as many forms of weather-related damage as possible would best protect your vessel.

Be aware of policy restrictions. Watch for named storm deductibles, navigation areas, and cruising limits. You want to be covered no matter where you decide to travel.

Don’t get sunk by unexpected damages.Keep your vessel safe with a policy from one of the nation’s top carriers.

The editorial content on Clovered’s website is meant to be informational material and should not be considered legal advice.

Types of Sailboat Insurance

There are several different types of insurance policies available for sailboats. Some of the most common include:

Hull Insurance : This type of insurance provides coverage for physical damage to your sailboat’s hull. This may include damages from storms, collisions, theft, or other incidents.
Liability Insurance : Liability insurance covers you for damages you cause to others, such as injury to another boater or damage to another boat.
Medical Payments Insurance : This coverage pays for medical expenses incurred by you or your passengers in the event of an accident on your sailboat.
Uninsured Boater Coverage : If you are involved in an accident with an uninsured boater, this coverage will pay for your damages and medical expenses.
Personal Effects Coverage : This coverage pays for damages or loss of personal items, such as clothing, electronics, or fishing gear, while on your sailboat.

Coverage Options

When choosing a sailboat insurance policy, it’s important to consider the coverage options that are available. Some of the key options include:

Coverage Limits : The coverage limit is the maximum amount your insurance company will pay for a covered claim. You’ll need to determine what coverage limits are appropriate for your sailboat, taking into account its value and your potential exposure to risk.
Deductibles : A deductible is the amount you pay out of pocket before your insurance coverage kicks in. A higher deductible can lower your insurance premiums, but you’ll need to weigh the trade-off between lower costs and increased financial risk.
Watercraft Towing and Assistance : This coverage provides for towing and assistance in the event of a mechanical breakdown or other emergency.
Navigation Limits : Some insurance policies limit where you can sail your boat, typically to coastal waters within a specified distance from shore. Make sure to understand the navigation limits of your policy and whether they are adequate for your sailing plans.

Factors That Impact Insurance Costs

There are several factors that can impact the cost of your sailboat insurance, including:

The Age, Type, and Value of Your Boat : Newer, larger, and more expensive boats typically cost more to insure than older, smaller, and less valuable boats.
The Location and Type of Use : Where and how you use your sailboat can also impact your insurance costs. For example, sailing in areas with high wind speeds, or participating in racing, may result in higher insurance premiums.
Your Sailing Experience : Your sailing experience and training can impact your insurance costs, as insurance companies consider you to be a higher risk if you have limited experience or training.
Claims History: Your claims history can also impact your insurance costs, as insurance companies consider you to be a higher risk if you have a history of filing claims.

In conclusion, sailboat insurance is a necessary investment to protect you and your investment. By understanding the different types of coverage, coverage options, and factors that impact insurance costs, you’ll be well equipped to choose the right policy for your sailboat. If you’re in the market for sailboat insurance, more it’s important to shop around and compare quotes from several insurance companies to find the best coverage at the best price. You can also work with a knowledgeable insurance agent to help you navigate the process and find the right policy for your needs.

When comparing quotes, make sure you understand what each policy covers, what your coverage limits are, and what your deductibles will be. It’s also important to review your coverage regularly and make any necessary changes as your sailboat and your sailing needs change over time.

Do I Need Insurance for my Sailboat?

As a sailboat owner, it’s important to consider the potential risks and liabilities that come with owning a vessel. While it’s not legally required in all states or countries, having insurance for your sailboat can offer peace of mind and financial protection in case of accidents or damages.

Here are some key factors to consider when deciding if you need insurance for your sailboat:

Liability : If you accidentally cause damage to another person’s property or injure someone while sailing, you could be held financially responsible for their medical bills or property repairs. Liability insurance can help cover these costs.
Property Damage : Your sailboat is a valuable asset that you likely want to protect. Property damage insurance can cover repairs or replacements in case of damage from weather, collisions, theft, or other incidents.
Legal Requirements : Depending on where you live or sail, you may be required by law to have insurance for your sailboat. Make sure to research the laws and regulations in your area to determine if insurance is mandatory.
Marina or Dock Requirements: If you plan on docking or storing your sailboat at a marina, they may require proof of insurance before allowing you to use their facilities.
Personal Finances: Can you afford to pay for repairs or damages out of pocket? Insurance can provide financial protection and prevent unexpected expenses from draining your savings.

In summary, while insurance for your sailboat may not be legally required in all cases, it’s important to weigh the potential risks and liabilities and determine if the financial protection and peace of mind are worth the investment. Be sure to research and compare different insurance options to find the coverage that best fits your needs and budget.

How to choose a good insurance for your sailboat

Choosing the right insurance for your sailboat can be a challenging task, but taking the time to carefully evaluate your options and consider your needs will ensure that you get the best coverage for your investment. Here are some steps to help you choose a good insurance policy for your sailboat:

Determine Your Coverage Needs

Before you start shopping for insurance, take some time to evaluate what you need coverage for. Consider the value of your boat, your sailing habits and locations, and any other factors that may impact your risk.

Shop Around

Get quotes from several insurance companies to compare coverage options and prices. Make sure to compare policies that offer similar coverage, and don’t be afraid to ask questions to understand what each policy covers.

Check the Financial Stability of the Insurance Company

Before choosing an insurance company, it’s important to check their financial stability and reputation. Make sure the company has a good rating from agencies such as A.M. Best, and check for any negative reviews or complaints.

Consider the Deductible

The deductible is the amount you’ll pay out of pocket before your insurance coverage kicks in. A higher deductible will lower your insurance premiums, but you’ll need to weigh the trade-off between lower costs and increased financial risk.

Read the Policy Carefully

Once you’ve chosen a policy, make sure to carefully read and understand the terms and conditions. This will ensure that you’re fully aware of what is and is not covered, and what your coverage limits are.

Work with a Trusted Insurance Agent

An insurance agent who specializes in boat insurance can help you understand your options and find the best policy for your needs. They can also answer any questions you may have and provide valuable guidance throughout the process.

Conclusion on How to choose a good insurance for your sailboat

In conclusion, choosing a good insurance policy for your sailboat requires careful consideration of your needs and a thorough evaluation of your options. By taking the time to shop around, compare quotes, and understand your coverage, you’ll be well equipped to choose a policy that provides the protection you need.

Overall, investing in sailboat insurance provides peace of mind and protection against unexpected events, so you can focus on enjoying your time on the water. Whether you’re a seasoned sailor or just starting out, take the time to consider your insurance options and choose the coverage that’s right for you.

We hope this post has helped you understand the ins and outs of sailboat insurance. Stay safe and happy sailing!

Emily Smith

Emily Smith is a passionate sailor and travel enthusiast, who has spent the last 8 years exploring the world by boat. From the tranquil waters of the Great Lakes to the roughest oceans, Emily has sailed it all and decided to share the knowledge on Sailingbetter.com blog. With a keen eye for detail and a talent for storytelling, Emily offers readers an insight into the thrilling world of sailing and the beautiful destinations it can take you to. When she's not out on the water, Emily calls Chicago, Illinois home and enjoys sharing her love for sailing with others. Join her on her journey as she continues to discover new horizons and inspire others to live life to the fullest.

How to Find the Best Sailboat Insurance Coverage for You

There are a few things to consider when looking for the best boat insurance coverage for you.

What Does the Boat Insurance Cover?

It's of great importance to know what will be covered by your preferred boat insurance company before taking your boat out on the water. Needless to say, insurance policies and contracts are always very complex, so taking your time and understanding everything is essential. To give you a head start, here are a few things that your boat insurance should cover.

‍ Damage to the boat or permanently attached equipment such as anchors
Damage arising from fire, theft, vandalism, collision, and lightning
Property damage liability, which is essentially the damage that your boat causes to someone else's property
Bodily injury liability, which revolves around the expenses incurred when someone gets injured on your boat or by your boat
Medical payments for expenses incurred by you and your passengers in the event of an accident
Guest passenger liability, which revolves around the legal expenses incurred when something happens if another person was using the boat with your permission
Mechanical Breakdown coverage, which pays for the repair of any part of the boat as long as it's not caused by wear and tear

Some of the things that are not included in the insurance include:

‍ Normal wear and tear
Damage caused by sharks or other creatures
Defective machinery
Damage caused by mold and insects

Types of Boat Insurance Policy

It's essential to know the type of boat insurance policy that you want. The two common options include:

Agreed Value - This is the amount that is agreed between you as the boat owner and the insurance company. This boat insurance tends to be more expensive since your boat's depreciation isn't taken into consideration. So in case of an accident, the insurer can even end up paying more than the current value of the boat.

Actual Cash Value - This revolves around the insurer paying up to the current actual value of the boat if anything happens. These premiums tend to be lower since the insurer will calculate the depreciation value and pay depending on the actual value of the boat.

Important Things to Know

Here are some important things to know as far as boat insurance is concerned.

‍ Navigational Limits - These are limits that outline where you can navigate your boat and you may not be covered if you venture beyond the agreed territory. Needless to say, your premiums will be higher if your navigation limits are extensive.
Marine Inspection - Most insurers will require your boat to be inspected by a certified marine surveyor to assess the condition for the boat and its market value.
Layup Periods - These refer to periods when you take your boat out of the water such as during winter when you're not boating. Most insurers will give you credit but you may not be covered if you take the boat out for a ride during the layup periods and something happens.
Underage Operators - Do not be tempted to offer your boat to an underage if he/she doesn't meet the age and license requirements in your area.

Best Sailboat Insurance Companies

Progressive.

As one of the leaders in the insurance industry, Progressive has been providing boat insurance for over 35 years. This company has insured over 1 million boats and has a network of independent agents across the country who are always willing to guide you through their policies.

Although Progressive is widely known for providing auto insurance, its boat insurance offerings revolve around covering small to medium-sized boats measuring not more than 50 feet in length with value not exceeding $500,000. Some of the coverage options to expect from this company include collision coverage, comprehensive coverage, bodily injury and property damage liability, medical payments, mechanical breakdown coverage, and many more.

Unlike most boat insurance companies, Progressive doesn't require boaters to provide a navigation plan. As long as your seafaring adventures are within 75 miles of the U.S. or Canadian coastlines, Progressive will offer a solid and reliable plan for your boat insurance. The company's customizable boat insurance is a cherry on the cake as it makes it a lot easier for boaters to bundle their policies and work within their budgets.

Allstate - Best for Budget

Consistently ranked among the best by various rating institutions in terms of financial strength and customer service, Allstate is one of the biggest providers of boat insurance in the country. With boat coverage options as low as $21 monthly, Allstate offers some of the most affordable coverage options in the boat insurance industry.

The company offers many types of boat insurance and pledge to keep their customers in good and safe hands. From your repair costs, trailer coverage, watercraft liability coverage to uninsured watercraft coverage, and many more, the average cost of boat insurance from Allstate is just about $20 a month.

Nationwide - Best Option for Bundling

Offering unique options for each boater's unique boating lifestyle, Nationwide is widely known for offering the best multi-policy options in the boat insurance industry. In other words, it can give you some of the best coverage options for your boat if you decide to combine your home, car, and boat insurance. With this, you'll get amazing extra perks such as rental reimbursement coverage, optional towing, and road assistance if your boat trailer is included in the coverage.

This is a company that will offer you amazing deals and discounts of up to 25% if you choose to bundle your boat insurance with at least one other policy provided by the company. What's more; they offer affordable packages for fishing equipment ($1,000), personal effects ($3,000), and towing ($500).

United States Power Squadron (USPS) Boat Insurance Program - Best for USPS Members

USPS is one of the few boat insurance companies that strictly offer insurance for boats. This may be quite disadvantageous for those looking for bundling options but it's great if you're looking for a company that puts its total focus on ensuring your safety and that of your vessel while out there on the water.

As such, this company offers automatic coverage for water skiing, hurricane safe harbor reimbursements, and personal effects coverage of up to $1,500. It also offers automatic fuel spill liability not exceeding $854,000. This is a company that offers among the most competitive packages for serious boaters out there. They offer online quotes, same-day coverage, and policy discounts if you pay premiums in bulk as well as round the clock claims processing.

Markel - Best for Anglers

If you're an angler looking for the best boat insurance for your vessel and fishing equipment, as well as other personal effects, look no further than Markel. With its professional fisherman policy, this company offers replacement cost coverage of up to $5,000 for fishing equipment and cost coverage of up to $10,000 for personal effects.

The company also offers discounts for operators aged 40 and above, accident-free discounts, and discounts for anglers or boaters with more than five years of experience. The best part is that you can save up to 35% on your boat insurance premium if you qualify for these discounts.

So whether you're a professional angler or just fishing for fun, Markel offers some of the best boat insurance coverage options for anglers. You'll be in safe hands with just $100 per year but this may depend on the coverage options that you need.

BoatUS - Best for Additional Benefits

Acquired by Geico in 2015, BoatUS has been offering boat insurance through its affiliation with the Boat Owners Association of the United States. It offers all types of coverage options including actual cash value coverage, liability-only coverage, and full coverage at an agreed value.

The best part for considering BoatUS for your boat insurance is that the company has some of the best additional benefits in the boat insurance industry. For example, all policies must include fuel spill liability coverage and supplemental medical coverage. This, therefore, means that the total costs of your insurance premiums will be reduced significantly thanks to these deductibles and additional benefits. You can also get discounts for good driving records and the completion of approved safety courses. For members, there are even more additional benefits.

State Farm - Best for Emergency Services Coverage

As one of the best-known names in the insurance industry in the country, State Farm might be your go-to-guys if you're looking for the best emergency services coverage. The company offers optional emergency services for up to $500 to service your boat, boat trailer, or motor in case of any damage as stipulated in your coverage contract. The company's optional wreck-removal coverage can also be ideal for you if you're looking for reasonable expenses if you're required by law to raise or remove your boat or wreckage.

The company also provides multi-policy discounts, which can be ideal for you if you want to cut down paperwork and combine your home, auto, and boat insurance. So whether you're a proud owner of a yacht or a modest kayak, State Farm can provide coverage options for your unique needs, especially in times of emergency.

Foremost - Best for Flexible Coverage Options

Known for offering affordable boat insurance coverage options across the country, Foremost can be a great option for you if you're looking for a boat insurance company that can offer coverage options that are suited for your unique insurance needs. Some of its unique coverage options include enhanced towing services, hurricane haul-out, additional pollution liability coverage, fishing tournament fee reimbursement, trip interruption service, pet coverage, and many more.

Most of these coverage options are flexibly tailored to lower your premiums and make boat insurance quite affordable. This company is widely known for insuring specialty risks and can easily offer good, better, and best coverage packages depending on how much you're willing to pay and the types of coverage options that you want.

Hagerty - Best for Classic Boats

Just like classic cars, we all know that classic boats are a rarity and you certainly want the best insurer for your unique an exotic classic boat. Of course, owners of classic boats have special needs that might not be the same as other boats, and this requires a company that offers these specialties. Well, Hagerty takes immense pride as one of the best boat insurers for classic boats.

The company not only offers personalized insurance services but also utilizes actual cash value to determine the right coverage limits for your boats. Its agents are also affiliated with well-known boating clubs whose members are generally proud owners of classic boats. So you can consider joining one of these boating clubs and you might be in for significant discounts on your insurance premiums for your classic boat.

United Marine Underwriters - Best for Personalized Customer Service

Having provided boat insurance across the United States except in New Mexico for nearly three decades, United Marine Underwriters takes immense pride in presenting itself as a specialty boat insurance company that puts a lot of emphasis on customer service, happiness, and safety.

This company offers liability limits of up to $1 million and you get various discounts if you meet certain thresholds. For example, you'll get substantial discounts if you complete one of the recognized boat safety courses that are approved by the National Association of State Boating Law Administrators and the Coast Guard Auxiliary and Power Squadron. The company also assigns you a primary service person to take care of all your servicing needs, which is why it's widely known for its excellent customer service.

Legally speaking boat insurance is not a must in many states unless you come you're planning to boat in Utah, Hawaii, and Arkansas. However, the peace of mind that boat insurance gives you when out on the water can never be underestimated. And because your boat is probably one of your most prized possessions, it's essential to choose the best sailboat insurance option; something that covers all your needs.

Daniel Wade

I've personally had thousands of questions about sailing and sailboats over the years. As I learn and experience sailing, and the community, I share the answers that work and make sense to me, here on Life of Sailing.

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A Guide to Sailboat Insurance

Imagine sailing freely on the open seas, wind in your hair and a sense of adventure in your heart. But amidst the exhilaration, don’t forget the importance of protecting your sailboat.

In this guide, we’ll show you how to navigate the world of sailboat insurance, helping you choose the right coverage, avoid common mistakes, and lower your premiums.

So set sail with confidence, knowing that your prized vessel is safeguarded against any unforeseen circumstances.

Table of Contents

Understanding Sailboat Insurance Coverage

You should consider reviewing your sailboat insurance coverage to ensure you’re adequately protected. As someone who values freedom and adventure, it’s important to understand the ins and outs of your insurance policy.

Finding affordable sailboat insurance can be a challenge, but with a few tips and tricks, you can secure the coverage you need without breaking the bank.

When searching for affordable sailboat insurance, start by comparing quotes from different providers. Look for companies that specialize in marine insurance as they may offer better rates and tailored coverage options. Additionally, consider bundling your sailboat insurance with other policies like auto or home insurance to potentially save money.

Understanding liability limits is crucial when it comes to sailboat insurance. Liability coverage protects you in case of accidents or injuries caused by your sailboat. It’s important to assess your risk exposure and choose liability limits that adequately protect your assets. While higher limits may come with a higher premium, they offer greater financial security.

Don’t forget to review the terms and conditions of your sailboat insurance policy. Look for any exclusions or limitations that may affect your coverage. It’s also a good idea to regularly reassess your insurance needs as your sailboat usage and value may change over time.

Types of Sailboat Insurance Policies

When considering sailboat insurance policies, it’s important to thoroughly compare and understand the different types available. Sailboat insurance provides essential protection for your vessel and yourself while out on the open water.

Here are some key types of sailboat insurance policies to consider:

Liability Limits: This type of insurance policy covers any damages or injuries caused to others while operating your sailboat. It’s important to carefully review the liability limits of each policy to ensure you have adequate coverage in the event of an accident.

Coverage Exclusions: It’s crucial to carefully review the coverage exclusions of each policy to understand what isn’t covered. Some common exclusions may include wear and tear, damage caused by improper maintenance, and acts of war or terrorism. Make sure you’re aware of these exclusions to avoid any surprises down the line.

Additional Coverage Options: Many sailboat insurance policies offer additional coverage options that you can choose from based on your specific needs. These options may include coverage for personal belongings on board, emergency towing services, and even coverage for racing events.

Factors to Consider When Choosing Sailboat Insurance

Considering the sailing conditions and intended use of your sailboat is crucial when choosing insurance coverage. There are several factors to consider when selecting sailboat insurance that will best suit your needs.

First, you need to take into account the sailing conditions you typically encounter. Are you sailing in calm waters or do you venture into rough seas? The type of coverage you choose should align with the risks associated with your sailing environment.

Second, think about the intended use of your sailboat. Do you use it for leisurely weekend trips, or do you participate in competitive racing? Different insurance policies offer varying levels of coverage for different uses.

To make it easier for you, here is a table summarizing the factors to consider when choosing sailboat insurance:

Factors to Consider	Sailing Conditions	Intended Use
Coverage Options	Calm waters	Leisure
Deductible Amount	Rough seas	Racing
Liability Limits
Premium Costs

Navigating Liability Coverage for Sailboat Owners

There are several key factors to understand and navigate when it comes to liability coverage for sailboat owners, such as the amount of coverage needed and the potential risks involved. It’s important to have a clear understanding of liability limits and how they can protect you in the event of an accident.

Here are some points to consider:

Liability Limits : Determine the appropriate liability limit for your sailboat insurance policy. Higher limits provide more coverage in case of accidents or damages caused by your sailboat. It’s crucial to assess your personal risk tolerance and the potential costs associated with liability claims.

Coverage Exclusions : Familiarize yourself with the coverage exclusions in your policy. These are specific situations or events that may not be covered by your insurance. Understanding the exclusions can help you make informed decisions and potentially avoid costly surprises in the future.

Special Considerations : Take into account any special considerations related to your sailboat. For example, if you plan to charter your boat or participate in races, you may need additional coverage. Discuss these factors with your insurance provider to ensure you have the appropriate coverage for your specific needs.

Protecting Your Sailboat Against Physical Damage

To protect your sailboat against physical damage, it’s important to have insurance coverage that includes accidents and the cost of repairs.

Accidents can happen unexpectedly, whether it’s a collision with another boat or damage caused by severe weather conditions.

Coverage for Accidents

You should definitely check if your sailboat insurance policy includes coverage for accidents caused by collisions with other vessels. Accidents can happen, and the cost of repairs can add up quickly. It’s important to have the proper coverage in place to protect yourself and your investment.

Here are a few common accidents that could occur while sailing:

Collisions with other vessels: Accidents happen, and if your sailboat collides with another boat, it can result in significant damage. Make sure your insurance policy covers this type of accident.

Groundings: Running aground is a common occurrence for sailors, especially in shallow waters. If your sailboat gets stuck on a sandbar or hits a submerged object, it can cause damage to the hull and other parts of the boat.

Storm damage: Severe weather conditions can cause significant damage to your sailboat. High winds, heavy rain, and rough seas can lead to costly repairs.

Having the right insurance coverage can give you peace of mind and protect you from unexpected expenses. Take the time to review your policy and make sure you have the coverage you need.

Cost of Repair?

If your sailboat sustains physical damage, it is important to consider the cost of repair in order to make an informed decision about your insurance coverage. Understanding the cost of repairs will help you evaluate whether it is worth filing an insurance claim or paying out of pocket. To assist you in this process, here is a breakdown of the typical cost of repairs for common sailboat damages:

Damage Type	Cost of Repair
Hull damage	$2,000 – $10,000
Mast damage	$1,500 – $5,000
Sails damage	$500 – $3,000
Rigging damage	$1,000 – $6,000
Engine damage	$2,000 – $8,000

Specialized Coverage for Racing Sailboats

When it comes to racing sailboats, specialized coverage is essential.

Unlike regular sailboats, racing sailboats have unique policy considerations that need to be taken into account.

From coverage for regattas and races to higher premiums and deductibles, it’s important to understand the specific insurance needs of racing sailboats.

Racing Sailboat Coverage

Make sure your racing sailboat coverage includes specialized coverage for racing events. Racing sailboats require specific insurance coverage to protect against the unique risks involved in competitive sailboat events. Here are three important considerations to keep in mind when selecting your coverage:

Hull Insurance : This coverage will protect your sailboat from damage caused by accidents, such as collisions or grounding during a race.

Liability Insurance : In the fast-paced world of racing sailboats, accidents can happen. Liability insurance will cover any damages or injuries caused to others during a race.

Equipment Insurance : Racing sailboats often have specialized equipment that can be expensive to replace. Ensure your policy covers the cost of repairing or replacing your racing gear, such as sails, rigging, and instruments.

Unique Policy Considerations

There are three important policy considerations to keep in mind when selecting coverage for your racing sailboat.

First, make sure to thoroughly review the policy exclusions. These are the situations or events that your insurance company won’t cover. It’s important to understand these exclusions so that you can plan and prepare accordingly.

Second, pay close attention to the coverage limits. These limits determine the maximum amount that your insurance company will pay in the event of a claim. It’s crucial to assess these limits to ensure that they align with the potential risks and costs associated with racing sailboats.

Premiums and Deductibles

You should carefully consider the premiums and deductibles associated with specialized coverage for your racing sailboat. Sailboat insurance can provide peace of mind and financial protection in case of accidents or damage. To make the most informed decision, here are some key points to consider:

Premium discounts: Look for insurers that offer premium discounts for safety measures such as having a boating safety course, installing safety equipment, or having a clean claims history. These discounts can help reduce your overall insurance costs.

Choosing deductibles: Deductibles are the amount you pay out of pocket before your insurance coverage kicks in. Higher deductibles usually result in lower premiums, but it’s essential to ensure that you can comfortably cover the deductible amount in case of a claim.

Specialized coverage: Racing sailboats often require specialized coverage due to their unique risks. Make sure to evaluate the coverage options available for racing sailboats and choose a policy that adequately protects your investment.

Exploring Additional Coverage Options for Sailboat Insurance

Can you explain the benefits of adding additional coverage options to your sailboat insurance policy?

As a freedom-seeking sailor, you understand the importance of protecting your beloved sailboat from any unforeseen events. Exploring coverage limits and understanding policy exclusions are crucial steps in ensuring comprehensive protection.

By adding additional coverage options to your sailboat insurance policy, you gain peace of mind and the freedom to navigate the open waters without worry.

One of the main benefits of adding extra coverage is the ability to customize your policy to meet your specific needs. You can choose to enhance your coverage for damages caused by natural disasters, such as hurricanes or storms. This ensures that even in the face of nature’s fury, you’ll be financially protected.

Another important coverage option to consider is liability insurance. This protects you in the event that you cause damage to another person’s property or injure someone while operating your sailboat. By having this additional coverage, you can sail with confidence, knowing that you have the means to handle any potential liability claims.

Furthermore, adding coverage for personal belongings onboard your sailboat is essential. This protects your valuable possessions, such as electronics, navigation equipment, and personal belongings, from theft, loss, or damage.

Tips for Lowering Sailboat Insurance Premiums

If you maintain a good sailing record and take a boating safety course, you may qualify for lower sailboat insurance premiums. Here are some tips for reducing sailboat insurance costs and strategies for lowering sailboat insurance premiums:

Shop Around : Don’t settle for the first insurance provider you come across. Take the time to compare different policies and prices to find the best deal for you. Consider factors such as coverage limits, deductibles, and additional benefits.

Increase Deductibles : By opting for a higher deductible, you can lower your insurance premiums. Just make sure you have enough savings to cover the deductible in case of an accident.

Bundle Your Policies : Many insurance companies offer discounts when you bundle your sailboat insurance with other policies such as auto or home insurance. This can lead to significant savings on your premiums.

By following these tips and strategies, you can lower your sailboat insurance premiums and enjoy the freedom of sailing without breaking the bank.

The Claims Process for Sailboat Insurance

To expedite the claims process for sailboat insurance, make sure to promptly report any damages or accidents to your insurance provider. Time is of the essence when it comes to filing a claim, so don’t delay in notifying them about any incidents that occur. By doing so, you’ll help ensure that the claims process runs smoothly and efficiently.

When it comes to the claims process, it’s important to understand the timeline involved. Insurance companies typically have specific timeframes within which you’re required to report and file a claim. Familiarize yourself with these deadlines to avoid any potential complications or delays in receiving your settlement.

In addition to reporting the incident promptly, it’s crucial to gather all necessary documentation to support your claim. This may include photographs of the damage, estimates for repairs, and any relevant police or incident reports. By providing thorough documentation, you can help expedite the claims process and increase the likelihood of a favorable outcome.

Common Mistakes to Avoid When Insuring Your Sailboat

You should always carefully review your sailboat insurance policy to avoid common mistakes that could leave you underinsured in the event of an accident. Sailboat insurance is essential to protect your investment and ensure your peace of mind while out on the open water.

Here are some common mistakes to avoid:

Not understanding liability requirements : It’s crucial to familiarize yourself with the liability requirements set by your state or marina. Failure to comply with these requirements could result in legal consequences and financial burden in case of an accident.

Ignoring coverage limits : Many sailors make the mistake of overlooking the coverage limits in their policy. It’s important to know the maximum amount your insurance company will pay in the event of a claim. If your coverage limit is too low, you may end up having to pay out-of-pocket for damages or injuries.

Neglecting to update your policy : As your sailboat ages or you make modifications, it’s essential to update your insurance policy accordingly. Failing to do so may result in inadequate coverage or even denial of a claim.

By reviewing your sailboat insurance policy, understanding liability requirements, paying attention to coverage limits, and keeping your policy up to date, you can ensure that you have the right coverage in place to protect yourself, your sailboat, and your freedom on the water.

Stay safe and enjoy your adventures worry-free!

Expert Advice on Choosing the Best Sailboat Insurance Policy

When comparing sailboat insurance policies, it’s important to consult with experts who can provide guidance on finding the best coverage for your specific needs. Understanding liability and having adequate coverage for accidents are crucial aspects of sailboat insurance. You want the freedom to explore the open waters without worrying about financial burdens in case of an unfortunate incident.

To begin, liability coverage is essential because accidents can happen, even to the most experienced sailors. Imagine a scenario where your sailboat collides with another vessel, causing damage to both boats and possibly injuring individuals. Without proper liability coverage, you could be held personally responsible for the expenses, which could be financially devastating. So, make sure your policy covers liability for bodily injury and property damage.

Additionally, coverage for accidents is vital. Sailboats are susceptible to various risks, including storms, collisions, and even theft. Accidents can result in significant damage to your boat, leaving you with hefty repair or replacement costs. Having comprehensive coverage that includes accidents will ensure that you’re protected financially if the unexpected occurs.

To find the best sailboat insurance policy, consult with experts who specialize in this field. They can evaluate your needs, explain the various coverage options, and help you find a policy that provides the right protection for your sailboat adventures. Remember, the freedom to sail without worry comes from having the right insurance coverage.

Frequently Asked Questions

Can i insure my sailboat if it is older or in need of repairs.

Yes, you can insure your older sailboat or one that needs repairs. Sailboat insurance providers understand that boats age and require maintenance. They offer coverage options to protect your investment and give you peace of mind.

What Is the Difference Between Agreed Value and Actual Cash Value in Sailboat Insurance?

When it comes to sailboat insurance, understanding the difference between agreed value and actual cash value is crucial. Agreed value ensures you’ll be compensated for the agreed upon value, while actual cash value takes depreciation into account.

Are There Any Discounts Available for Sailboat Insurance if I Have Completed a Boating Safety Course?

Yes, completing a boating safety course can make you eligible for discounts on sailboat insurance. Not only will you save money, but you’ll also gain valuable knowledge that will benefit you on the water.

Does Sailboat Insurance Cover Me if I Sail in International Waters?

Does sailboat insurance cover you when sailing in international waters? You’ll be glad to know that many policies do offer coverage for international sailing, giving you the freedom to explore the open seas worry-free.

Can I Add Coverage for Personal Belongings and Equipment Stored on My Sailboat?

Yes, you can add coverage for your personal belongings and equipment stored on your sailboat. Sailboat insurance offers coverage options for personal belongings and equipment protection, giving you peace of mind while enjoying your freedom on the water.

Scott is a devoted boat enthusiast and provides invaluable insights, tips, and advice on boat insurance coverage, industry trends, and maintenance. Marine Insurance Now is the go-to resource for seasoned boat owners seeking insurance guidance and aspiring sailors embarking on nautical adventures. Scott's expertise and infectious passion make his blog a must-read for boat enthusiasts and is making waves in the boating community.

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Selecting the Right Insurance Policy for Your Boat or PWC

By Lenny Rudow
February 21, 2024

You can choose to work with a major company, such as getting Geico boat insurance or Progressive boat insurance, or you can go to a smaller provider. But one thing is for sure: If you have a boat or PWC, you will need insurance coverage. However, just which coverage is best for your needs can be a be a bit confusing. Just like for homes and automobiles, there are many different levels of coverage, terms and types you’ll need to sort through. Are you ready to dive into the details?

Article at a glance:

Different types of boat insurance
Choosing between the insurance options
How to purchase insurance

Comparing Different Boat Insurance Policy Types

When purchasing boat insurance, you’ll generally need to choose between three different types: agreed hull value, actual cash value, and liability only. Unlike automobile insurance, the type of coverage you get isn’t mandated by law in most states (though it is in Arkansas and Utah). Most people decide which plan to opt for depending on the value of the boat, the age of the boat, how it’s financed, and where they keep or use it.

– LOWER YOUR RATES – Taking a boating safety course won’t just make you a better skipper. It could also help you save big on insurance. Safety Tip Provided by the U.S. Coast Guard

Agreed Hull Value

Insurance policies that cover the agreed hull value specify a valuation of the boat, which will be the amount you receive in case of a total loss. This type of policy tends to cover (and cost) more than the others. Smaller insurance companies might not even offer it, while the big players like Geico boat insurance and Progressive boat insurance generally do. These policies often can be purchased with additional forms of coverage, like fuel-spill liability, towing coverage, or roadside assistance for trailer boaters.

Actual Cash Value

Actual cash value policies are the most common and cover your boat for its current market value. Because they take depreciation into account, they’re generally less expensive than agreed hull value policies. Actual cash value policies can usually be purchased with additional forms of coverage too.

Liability Only

The least expensive option is liability-only boat insurance, which only covers things like medical payments arising from accidents or protection from other boaters who are uninsured. Many marinas and boatyards will require you to have liability coverage at the very least.

– DON’T FORGET THE RADIO – A VHF marine band radio is your first line of communication on the water, allowing you to talk to the Coast Guard and other boat traffic. Use Channel 16 only for hailing and emergencies. Safety Tip Provided by the U.S. Coast Guard

Choosing Boat Insurance Coverage Options

Different policies can cover different events, like theft, hurricane haul-outs or salvage assistance. Depending on where you live, these can be more or less important. Someone in Iowa probably doesn’t need hurricane haul-out coverage, for example, while a boater in Florida most certainly does. You’ll also usually need to meet certain coverage requirements if your boat is financed because the lender will want to know they’ll get paid in case of an incident. Some of the most important options to consider include medical payments, uninsured boater coverage and salvage coverage.

Medical Payments

Most comprehensive policies will include some level of medical-payment coverage, which takes care of expenses in case someone aboard gets injured. These are generally capped at a certain level, which varies by policy.

Uninsured Boater

You can do everything right and still have an accident thanks to someone else. If they don’t have insurance, you’ll be glad you have uninsured boater coverage.

Total Salvage

Salvaging a boat can be very expensive, and laws can require owners of stricken vessels to have them salvaged. These policies usually cover salvage expenses up to the hull value of the boat.

How to Purchase Boat Insurance

In most cases, purchasing boat insurance is just a click away because you can get quotes online and compare the different options on the insurance company websites. With larger, more expensive boats, however, having an accredited surveyor inspect the boat might be necessary. This is usually the case when it comes to getting insurance for used boats.

Discounts for Boater Safety Courses

Boater education doesn’t just keep you and your family safe on the water. It can also help you save big on insurance. Providers offer discounts of up to 15 percent on boat insurance for completing a boating safety course. Check with your provider, and find classes through the Coast Guard Auxiliary or U.S. Power Squadron.

– INVEST TO IMPRESS – A boating course is a great way to gain confidence and boat-handling skills. A little practice now will make it look easy when everyone is watching. Safety Tip Provided by the U.S. Coast Guard

Closing Remarks & FAQ

Beyond any legal or financing requirements, which insurance you opt for is a personal decision, just as it is with a home or automotive policy. Choose more coverage and spend more on the premiums, or choose less and save on the cost, just as long as the decision lets you sleep well at night.

What are the main types of boat insurance policies? Agreed value, actual value and liability only are the three main types of boat insurance policies.
What are some typical boat insurance coverages one should consider? The most common are medical payments, uninsured boater, total salvage, towing, hurricane haul-out, fuel-spill liability, theft, roadside assistance and personal-effects coverage.
How does location factor into boat insurance coverage? It impacts the need for weather-related coverage, and it can require you to have a documented “storm plan” for taking care of the boat when a named storm approaches. Location can also affect theft coverage, uninsured boater coverage and other protections.
Will boat insurance cover anyone who operates the vessel? This depends on the policy. Most will cover other operators and family members who use the boat with your permission, but they won’t cover renting or leasing your boat to someone.
Should boat insurance be bundled with other insurance products? It’s up to you, but you can save money by doing so in many cases.
Is it ever wise to operate a boat without any insurance coverage? That depends on your personal tolerance for risk. That said, it’s far more worrisome with some boats than others. At one extreme, taking a rowboat out on a lake without insurance is probably fine, but casting off the lines on an uninsured million-dollar yacht would certainly seem dicey.
More: Boating Safety , coast guard , finance and insurance , How-To , Hurricane Preparation , Water Sports Foundation

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Sailboat Insurance

(Here's how you can easily find the right coverage)

Jessica Huneck is an insurance writer from TrustedChoice.com. She began her writing career in 2011 and has since earned herself a bachelor's degree in English writing.

Few activities offer such a sense of freedom, self-reliance, and accomplishment as guiding a sailboat across crystal blue waves. Maybe you are a long-time sailboat owner and you are wondering whether you can find better rates or lower costs on your sailboat insurance.

Maybe you just spent the weekend at a boat show window shopping for schooners and wonder what your boat insurance costs might be. Either way, a local independent insurance agent can help.

Save on Boat Insurance

Our independent agents shop around to find you the best coverage.

Sailboat Safety Statistics

Sailboats have a better safety track record than powered watercrafts.
In 2011, there were 10 deaths of sailboat operators/passengers, according to the U.S. Coast Guard.
Sailboats accounted for 27 total non-fatal injuries that same year, compared to 1,610 non-fatal injuries on open motorboats.

Is Sailing Insurance Required?

For most watercrafts, there is no state or federal law that mandates boat insurance . However, sailboats are an exception. Many people are surprised to discover that, unlike other types of boats, sailboats must be insured to operate on U.S. waters.

Therefore, if you have just purchased or are planning to buy a sailboat, be prepared to have at least some coverage before you take it out on the water.

If you plan to finance your sailboat purchase through a bank or credit union, your lender will almost certainly require you to insure the craft against catastrophic damage.

Moreover, many marinas and storage spaces require that boat owners insure their crafts before docking there. Getting coverage in place to protect your sailing dinghy will provide both protection and peace of mind.

What Kind of Sailboat Insurance Do You Need?

Choosing a sailboat policy can be challenging because every boat owner has different requirements. The options available to you will differ from one insurance company to another. Therefore, it is important to compare policies and ensure that your coverage matches your needs.

An independent agent can compare premium rates and coverage from several different insurance companies so that you can see the best options on the market today.

If you're curious about whether or not your homeowners insurance will cover your boat, look carefully at your home policy first. Typically, homeowners policies will only offer coverage for a limited scope of incidents.

You may have low coverage amounts for your boat under your homeowners insurance, or you may only have coverage for times when your boat is parked at your residence.

Either way, it is advisable to speak with your insurance agent, and consider purchasing a sailboat insurance package to adequately cover your risks.

In order to protect your sailboat and your finances, your insurance could include some or all of the following:

Bodily injury liability insurance : Bodily injury liability protects you in the event that you injure another person, whether that person is on another boat or a dock, or is a passenger on your sailboat. Due to the costs of medical care and potential legal fees, this is an important insurance option to consider.
Property damage liability insurance : Property damage liability insurance covers you in case you damage another boat, a dock or other property belonging to someone else. If you plan to dock your sailing vessel, or if you plan to operate in busy areas where you risk hitting another watercraft, property damage liability coverage can provide important protection.
Comprehensive coverage : If your boat is stolen, vandalized or damaged in a fire or severe storm, comprehensive insurance can help you cover your costs. Comprehensive coverage can also protect your personal items if they are stolen from the sailboat or lost while you’re out on the water.
Towing and emergency assistance: Similar to roadside assistance for your car, this type of coverage can help if your sailboat is disabled for any reason out on the water. Depending on the insurance company you choose, you may also have the option to buy on-land towing coverage as well.

How to Find Sailboat Insurance

As a sailboat owner, you need to find the right coverage for your particular vessel, whether you own a mid-sized sloop or a 72-foot catamaran. You also want to ensure that you are in compliance with the local laws and regulations of your state.

Risks and concerns can vary widely depending upon the type of craft and how and where you sail. For example:

If you boat exclusively on a private local lake and never need to tow the craft, you may need a minimal amount of coverage to protect your vessel against storm damage and theft.
If you take passengers on tours for pay, whether as a sole proprietor, or as a part of a larger business, it is a good idea to take a close look at your liability coverage and ensure that you are adequately insured for potential injuries and property damage claims. You may also need commercial insurance coverage .
If your sailing vessel is a high-value boat, such as a yacht or megayacht , you will need a specialized insurance policy that adequately protects your investment.

In the end, it's a good idea to make sure that your insurance coverage can match your usage and your risks on the water.

An online search for sailboat insurance is a great way to efficiently collect quotes and preliminary data about the insurance coverage and costs in your area.

Take Home Message for Smooth Sailing

No matter what type of craft you own, your sailboat faces a number of hazards while out on the water, while you are towing it to and from the waterway, and even while it is moored or stored for the off-season.

It's important to get some help assessing your risks, and get insurance that's going to protect you financially in the event of an accident.

Whether you choose to look for insurance online, call around to several insurance companies, or work with an independent agent , just make sure you're getting the right coverage at a competitive price. Comparing quotes is an excellent way to do this - just make sure you're making apples-to-apples comparisons.

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SKISAFE BLOG

Sailboat Insurance Guide: Cost Coverage and More

Navigating the wondrous waters of the world under sail brings an experience that can’t be replicated anywhere else. Whether embarking on exhilarating voyages off the coast or simply enjoying small moments at your local lake, it’s important to protect yourself with adequate sailboat insurance.

In this article, we round up the many aspects of boat insurance and explain everything you need to know about sailboat coverage.

Sailboat Insurance: The Basics

Your sailboat needs protection when it’s in use, stored, floating at the dock, or in dry storage. To summarize, it can get damaged anytime, anywhere. You’re also liable for expenses if you injure someone else or damage someone else's property.

Sailboat insurance is designed to protect both you and your vessel from financial loss. Depending on the coverage and limits of the policy, your insurance may protect you from any one of those scenarios.

At SkiSafe, we are equipped to insure all types of vessels, from personal watercraft to yachts to sailboats. Instead of applying ‘one-size-fits-all’ policies across the board, we offer highly customizable coverage options that safeguard your needs as a sailboat owner and operator.

SkiSafe Sailboat Insurance

A policy that covers your sailboat for damages it could incur is referred to as an “all risk” plan. This type of policy covers your boat from various perils, like fire, collision vandalism, theft, and more. It also considers other risks like bodily injury or property damage to others.

» MORE: Comprehensive Boat Insurance Coverage - What It Is and How to Get It

Policies can include coverage for weather-related events as well, such as strong winds, freezing temperatures, and hurricanes. In addition to these protections, sailboat insurance policies can provide coverage for wreckage removal, fuel spill cleanups, towing/roadside assistance, mechanical breakdowns, and more.

Since sailing vessels have rigging, sails, and other equipment that is different from power boats, there are a few specifics to consider when getting insurance for a sailboat . These considerations are dependent on the specific vessel and navigation territory, which is why it’s critical to partner with an insurer like SkiSafe that has extensive boating knowledge.

Sailboat Insurance: Requirements

Most states do not require sailboat insurance unless you live in Utah or Arkansas.

Typically, there are two scenarios when you’re required to have an insurance policy on your sailboat:

If you have a loan on it and your lender requires an insurance policy to protect their investment.
If you want to store your sailboat at a marina or yard and they require you to have liability insurance to do so.

Even if you’re not required to obtain insurance for your sailboat, you should not leave a significant and valuable purchase uninsured. Coverage for potential damages or liabilities could save you from a hefty bill down the road.

Sailboat coverage is especially important if you:

Sail regularly
Have a new, expensive sailboat
Live in an area with unpredictable weather conditions
Can’t afford the out-of-pocket cost if the sailboat was damaged, experienced a loss, or was stolen.

Sailboat Insurance: Cost

The cost of sailboat insurance varies by the age of the vessel, its length and value, and location, along with other factors unique to you and your sailboat. Rates are also affected by the coverage limits on the policy.

Your premium is only a fraction of the cost compared to paying for a major repair or replacement out-of-pocket. Sailboat insurance coverage is actually one of the most affordable, yet rewarding bills associated with owning watercraft.

Plus, there are several ways to cut costs and bring down your boat insurance rate. You may qualify for a discount, like completing a certified boating safety course, navigating your boat in a limited territory, etc. Having sailing history or experience is another plus when it comes to your insurance rate. Typically, if you have a long, safe track record of sailing, it will be reflected favorably in your premium.

What You Need For a Sailboat Insurance Quote

If you’re ready to get a quote from SkiSafe and protect your sailboat, there is some basic information you’ll need to provide:

Make and model
The year it was built and its length
Hull Identification Number
Where and how it will primarily be stored
Your name, address, email address, and boating history

Sailboat Insurance: Navigate Your Risks with the Right Coverage

June 11, 2024

Ever dreamt of being caught in a sudden storm, waves crashing against your sailboat, and praying for the best? Luckily, you don’t have to leave everything to chance. Sailboat insurance can be your lifeline in such situations.

Owning a sailboat is a dream for many, but it comes with its share of potential risks. Without proper marine insurance , you could be adrift in a sea of financial burdens. Think unexpected repairs that can cost a small fortune, or liability for accidents that could lead to costly legal fees. These are the choppy waters you could navigate without the right coverage.

This guide is your compass to understanding sailboat insurance . It’s designed to help you navigate through the myriad of coverage options and steer you towards making informed decisions that protect both your vessel and your finances. So, let’s embark on this journey together and set the course for a safer sailing experience.

1.1 Physical Damage
1.2 Liability
1.3 Medical Payments
1.4 Personal Property
1.5 Optional Coverages
2.1 Sailboat Size and Value
2.2 Sailing Experience and Location
2.3 Deductible
3 Claims Process
4.1 Comparison Shopping
4.2 Reading the Fine Print
4.3 Finding the Best Value
5.1 Safety First
5.2 Maintenance Matters
5.3 Review Regularly
6.1 What Is The Average Cost Of Sailboat Insurance?
6.2 What Is The Difference Between Agreed Value And Actual Cash Value?
7 Conclusion

Types of Coverage

Sailing into the horizon, you feel a sense of freedom. But with freedom comes responsibility, especially when it comes to protecting your vessel and those aboard. Here’s a breakdown of the types of sailboat insurance coverage that can keep your maritime dreams afloat:

Physical Damage

This is the hull of your policy, covering the boat itself—hull, sails, machinery, and other essential equipment. Whether you face a collision, find yourself grounded, or are caught in a tempest, this coverage ensures your sailboat can weather the storm. It also extends to theft, offering peace of mind when docked.

Imagine your sailboat accidentally damages a dock, or worse, injures someone. Liability coverage is your safeguard, addressing third-party injuries, property damage, and even the legal expenses that could follow such incidents. It’s an essential buffer against the unpredictable tides of sailing life.

Medical Payments

If you or your passengers suffer injuries, medical payment coverage is there to handle the costs. It’s a safety net that cares for the wellbeing of everyone on board, ensuring that a day at sea doesn’t lead to financial distress on land.

Personal Property

Your sailboat is more than just a vessel; it’s a home on the water. Coverage for personal property protects onboard items like electronics, fishing gear, and personal effects, securing the comforts that make your sailboat uniquely yours.

Optional Coverages

For those who seek extra security or have specific needs, optional coverages offer tailored protection. This can include towing assistance if you’re stranded, racing coverage for the competitive sailor, and salvage operations to save your sailboat from dire situations.

With the right coverage, you can set sail confidently, knowing that you’re prepared for calm seas and unexpected storms alike. Remember, choosing the right sailboat insurance is about finding the balance that suits your seafaring lifestyle and gives you the freedom to explore the oceans without worry.

Factors Affecting Coverage

When it comes to sailboat insurance, several factors can influence your coverage and its cost. Understanding these can help you navigate the waters of insurance policies more effectively.

Sailboat Size and Value

The size and value of your sailboat are like the wind in your sails; they can significantly propel the cost and coverage limits of your policy. Larger and more valuable boats often command higher premiums due to the increased risk and potential cost of claims. It’s essential to ensure that your coverage reflects the true value of your vessel to avoid being underinsured.

Sailing Experience and Location

Your sailing experience and the waters you navigate also play a crucial role. Seasoned sailors with a record of safe navigation may enjoy lower premiums, much like a favorable wind. Conversely, sailing in regions prone to storms or piracy can increase premiums, similar to navigating through treacherous currents.

Choosing your deductible is akin to setting your course. A higher deductible might reduce your premium, making insurance more affordable, but it also means more out-of-pocket expenses if you need to file a claim. A lower deductible eases the financial burden during a claim but can increase your regular premium costs.

Claims Process

Filing a claim should be as straightforward as plotting a course on a clear day. Here’s a simplified overview:

Report the Incident: As soon as an incident occurs, contact your insurance provider to report the details.

Documentation: Gather all necessary documentation, such as photos of the damage, repair estimates, and any relevant reports.

Assessment: The insurance company will assess the claim, which may include an inspection of the damage.

Resolution: Once the claim is approved, the insurance company will provide compensation based on your coverage, minus the deductible.

By considering these factors, you can ensure that your sailboat insurance policy is not only cost-effective but also provides the comprehensive coverage you need for peace of mind on the open seas.

Choosing the Right Sailboat Insurance

Choosing the right sailboat insurance is much like selecting the perfect sailboat; it requires careful consideration and a keen eye for detail. Here’s how to ensure you’re getting the best policy for your needs:

Comparison Shopping

Don’t anchor yourself to the first quote you receive. Sail through multiple insurance providers and compare their quotes. Just as you would test different waters before a voyage, exploring a variety of options can lead to significant savings and better coverage. Remember, the calmest seas aren’t always found on the first shore.

Reading the Fine Print

Every policy has its own navigational chart in the form of fine print. Pay close attention to exclusions and limitations within each policy. It’s the small details, often overlooked, that can make a vast difference when you’re in need of coverage. Understanding these terms is like knowing the reefs and shallows that could hinder your journey.

Finding the Best Value

The best value in sailboat insurance isn’t just about the price tag; it’s about the harmony of price, coverage options, reputation, and customer service. Weigh these factors as you would balance the sails of your boat. A reputable insurer with commendable customer service can make all the difference when the waters get rough.

By taking the time to comparison shop, read the fine print, and find the best value, you’ll set yourself up for a smoother sailing experience. With the right sailboat insurance, you can enjoy the freedom of the seas, knowing that you’re well-prepared for whatever lies ahead.

Additional Tips for Sailboat Owners

Navigating the waters of sailboat ownership is not just about the thrill of the voyage; it’s also about ensuring a safe return to port. Here are some additional tips for sailboat owners to keep in mind:

Safety First

You wouldn’t set sail without a life jacket, so why skip on other essential safety measures? Taking safety courses not only equips you with the knowledge to handle emergencies but can also potentially lower your sailboat insurance costs. Proper equipment, from life rafts to fire extinguishers, is your first line of defense against the unexpected. Remember, a well-prepared sailor is a safe sailor.

Maintenance Matters

Regular maintenance is the keel that keeps your sailboat stable. It’s not just about aesthetics; it’s about functionality and safety. By keeping your vessel in top condition, you prevent incidents and ensure smooth claims processing. Whether it’s the hull, sails, or engine, a well-maintained boat speaks volumes when it comes to insurance assessments.

Review Regularly

The tides change, and so do your sailing needs. Reviewing your sailboat insurance coverage annually is as crucial as checking the weather before a trip. Adjust for changes in your circumstances, like boat upgrades or alterations in your sailing habits. An annual review ensures that your coverage remains as up-to-date as your logbook.

By following these tips, you’ll not only enjoy the freedom of the seas but also the peace of mind that comes with knowing you’re well-protected. So, keep safety at the helm, maintenance in your routine, and regular reviews on your chart, and you’ll be set for many more adventures on the high seas.

FAQs On Sailboat Insurance

What is the average cost of sailboat insurance.

The average cost of sailboat insurance typically ranges between $250 and $1,500 annually. This cost can vary depending on several factors, including the type of coverage, the value of the sailboat, and personal factors such as accident history.

For larger sailboats, like 50-foot vessels and catamarans, the cost can go up to $4,000 per year. It’s worth noting that, compared to other types of insurance, sailboat insurance is relatively affordable, especially when considering the protection it offers against potential risks.

What Is The Difference Between Agreed Value And Actual Cash Value?

The difference between agreed value and actual cash value in insurance policies is how the value of your property is determined in the event of a loss.

Agreed value insurance means that you and the insurance company have agreed upon a specific value for your property at the start of the policy. If there’s a total loss, you’ll receive this predetermined amount, with no depreciation considered.

Actual cash value, on the other hand, is more like the current market value of your property at the time of the loss. It takes into account depreciation, so you’d receive what the property is worth at the time of the claim, which could be less than what you paid for it or its replacement cost.

In the context of sailboat insurance, choosing between agreed value and actual cash value can significantly affect your financial recovery after an incident. Agreed-value policies are often preferred for their predictability and full coverage potential.

As we dock at the end of our sailboat insurance journey, it’s clear that the right policy is more than a piece of paper—it’s a promise of protection. It’s the assurance that, come high water or strong winds, your investment and your passions are safeguarded. Whether you’re a seasoned sailor or new to the nautical world, securing appropriate sailboat insurance is an essential step towards peace of mind on the water.

Don’t let your sailing dreams be capsized by unforeseen events. Take the helm of your safety and financial security by obtaining quotes from multiple providers. Compare, contrast, and choose the coverage that best fits your seafaring lifestyle. 🌊⛵

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Table of Contents

Do you need boat insurance?

What boat insurance will pay for, boat insurance costs and discounts, where to buy boat insurance.

Your prized boat probably didn’t come cheap. Whether you own a bass fishing boat or a yacht, it’s important to find the right boat insurance that will come to the rescue if you have damage or theft. Here’s how to understand boat insurance policies.

Your home insurance policy covers your boat in some cases, but it doesn’t go far. Homeowners policies typically cap boat coverage at $1,000 or 10% of your home’s insured value. And liability coverage — which pays for damage your boat does to others — typically isn’t included under home insurance. So a home insurance policy might help you only if your boat is small, slow and inexpensive.

At a glance: Do I need boat insurance?

You can typically buy liability insurance — which pays for damage your boat does to others — in amounts from $15,000 to $300,000, according to the Insurance Information Institute. Here's what else you can expect from a policy:

Check, too, about additional coverage for trailers and accessories, for towing and for damage caused by an uninsured boater.

You can buy two types of damage coverage for a boat:

Actual cash value. This pays the value of your boat at the time of the damage. If your boat is destroyed, your insurance company determines its market value.

Agreed amount value. If your boat is destroyed, your insurer pays you an amount that you and the company agreed on beforehand. If your boat can be repaired, your insurer replaces old items for new ones without deducting for depreciation.

It’s also important to understand what your boat insurance covers before heading out on the water, says Todd Shasha, boat and yacht personal insurance director at Travelers Insurance. He recommends checking whether your policy can cover these scenarios:

Mechanical breakdown coverage. Pays to repair or replace your outboard motor as long as it’s not due to wear and tear.

Salvage. If your boat becomes disabled and a basic tow won’t help, you might need to call a salvage company to recover it. Typically a salvage company will ask for a percentage of the boat’s value as payment, which can be quite expensive. Not all insurance companies offer this coverage.

Gadgets. Not all boat insurers cover expensive accessories like fishing equipment or fancy coolers unless they’re permanently attached to the boat. For example, Travelers offers personal property coverage that pays you if they’re stolen or lost while out on the water. Endorsements, which are additions to your policy, are available if you want to increase the value of your personal property limits.

Some important things to know about boating and your policy:

Navigational limits: If you own a yacht or a larger boat, your policy will have limits outlining where you can navigate your vessel. If you venture outside of the territory you agreed to in the policy, your insurance may not cover you. Typically, the broader your navigation area is, the higher your insurance costs will be.

Layup periods: Taking your boat out of the water is typical during cold weather, and most insurance companies will give you a credit because it’s not being used. But take the boat out for a spin before the layup period ends and you won’t be covered by your insurance policy.

Marine inspections: If your boat is an older model, most insurance companies will want you to have it inspected by a marine surveyor in order to assess the vessel’s condition and market value. For safety’s sake, consider a marine survey even if it’s not required.

Underage operators: You might be tempted to let your 12-year-old drive the boat every now and then. But if your child doesn't meet age and license requirements in your state, your boat insurance policy might not cover you. Age and license requirements for operating personal watercraft vary from state to state. In Virginia and Florida, for example, no one under 14 may operate a personal watercraft. In Texas, children under 13 are barred from driving one unless a licensed operator who's at least 18 is on board. For requirements where you live, check with the boating regulatory agency in your state.

How much you’ll pay for boat insurance depends on the level of insurance coverage you want, as well as the size, horsepower, type and value of your boat.

You can choose your deductible, which is the amount deducted from your insurance check if you make a claim. A typical policy has deductibles of $250 for property damage, $500 for theft and $1,000 for medical payments, according to the Insurance Information Institute. Liability claims against you do not have a deductible.

Insurance companies offer a variety of ways to save money, including discounts for:

Having a diesel-powered boat.

Not having made a previous boat insurance claim.

Carrying other policies, such as car or homeowners, with the same insurer.

Taking safety courses.

Boat insurance is widely available. NerdWallet looked at the top 25 auto insurance sellers in the country and found these that also offer boat insurance:

Offers coverage for boats up to $250,000 in value.

AAA lowers your deductible by 25% each time you renew your policy and haven’t had a claim.

Average cost of boat insurance from Allstate is about $20 a month, according to Allstate.

Bundle boat insurance with an Allstate homeowners policy and you qualify for up to a 20% discount.

American Family Insurance

Additional coverage options cover personal items and pay for repairs to your boat and equipment, without a deduction for depreciation.

If your boat is disabled, an Amica policy covers towing to nearest port.

If your yacht can’t be repaired, Amica pays to replace it with a new one, without subtracting depreciation.

Auto-Owners

Optional boat insurance coverage is available through homeowners policies.

Country Financial

Country Financial homeowners insurance covers your boat for up to $1,500.

You can buy more coverage under your homeowners policy.

Erie’s standard Boat Protector Policy comes with extras, including payments up to $500 to fix or replace boating equipment and accessories, and payments up to $250 for emergency towing. (Not available in Kentucky.)

Farmers offers seven packages to fit your vessel type and coverage needs.

Geico’s optional premium boat towing service offers unlimited on-water towing (within 25 miles of an approved tower) and pays the service provider directly.

Geico offers several discounts, including one for passing a boat-safety course and for maintaining a good driving record.

You can cover your boat, sailboat or personal watercraft with an endorsement to your Hanover Platinum or Connections homeowners insurance policy.

The Hartford

Additional coverage, which costs extra, is available for your accessories, trailer and boat hull.

Liberty Mutual

You must have a homeowners insurance policy with Liberty Mutual to get boat and watercraft insurance.

Optional coverage includes hurricane protection, which pays up to $250 to move your boat out of danger during a hurricane advisory.

Unforeseen emergency services coverage pays $250 for towing and other services on land or in the water.

Personal watercraft coverage includes liability, collision, comprehensive, uninsured or underinsured operator, and medical payments.

Optional towing and labor also available.

Progressive

Total loss replacement coverage pays for a new boat if your new boat is a total loss within five years of adding the coverage.

Progressive offers several specialized coverage options, including 24-hour roadside assistance if your car breaks down while towing your boat.

Unlike some insurers, Progressive doesn’t require you to submit a navigation plan. Nor does it require an inspection of your boat.

State Farm’s optional emergency service pays up to $500 to service your boat, motor or boat trailer.

Optional wreck-removal coverage pays “reasonable expenses” to raise or remove your boat when it’s required by law.

Travelers splits the cost to move the vessel to safety when you carry “hurricane-escape reimbursement” coverage, which costs extra.

Antique boats get the same comprehensive coverage available in Travelers' basic policy.

USAA members get a 5% discount on boat insurance, but the discount is not available in all states.

USAA is open only to active and retired military and their families.

Juan Castillo is a former staff writer at NerdWallet.

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Do I Need Boat Insurance?

You're probably not required by law to carry boat insurance, but that doesn't mean you don't need it.

A few states require that you have liability coverage on certain types of boats — powerboats with more than 50 horsepower or personal watercrafts (PWCs), for example — or on boats used in state parks or kept in state-run marinas. To find out if you are legally required to have insurance on your boat, search online for state and "boat insurance requirements."

Even if your state does not require you to carry boat insurance, your bank will if you have a loan on the boat, and your marina might. You won't be able to get a loan on your boat without providing the bank with proof of insurance that covers the full value of the boat in the event of a loss. The bank gets listed as the lien holder on the policy so that if any loss payments are made it will be listed as a co-payee on the check. Most marinas require proof of liability insurance before it will accept a contract for a slip or a mooring, and some will want to be listed as an additional insured on the policy.

If your state, bank, or marina requires you to carry boat insurance, your homeowner's policy will generally not be acceptable. That's because homeowner's policies are usually limited to boats under a certain size or value, and they don't have the necessary provisions to cover the types of losses that may occur with a boat. Boat insurance is designed to address the specific needs of boaters. Policies out in the market give you the option to insure the boat for its current market value in the event of a total loss — often called Actual Cash Value (ACV) — or for an "agreed value," also known as "stated value."

Download the BoatUS Buyers Guide PDF to read this article and the entire guide.

Most boat policies are "all risk" policies, which provide coverage for a broad array of calamities that could befall your boat, including theft, vandalism, lightning, fire, grounding or sinking, and lost or stolen belongings. Look for options that will protect your personal items such as watersports equipment and fishing gear, as well as provide towing coverage in the unfortunate event of a breakdown or soft grounding. Many companies also give you the option for a policy that does not insure physical damage to your boat at all, but only provides a specified amount of coverage for your liability to others in the event of an accident or protection from uninsured boaters.

The more your boat is worth, the more important insurance becomes to protect yourself from financial loss. If you have an umbrella policy, it will require your boat policy to have certain limits; make sure there is no coverage gap. Many umbrella or excess liability policies require the underlying policy (such as your boat policy) have liability limits of at least $300,000 to $500,000.

Even if you are not otherwise required to have insurance and your boat is not worth very much, you should still consider insuring it. A collision with a small powerboat can cause serious injuries, and even if you are not found liable for those injuries, you could end up spending a significant amount of money in legal fees to defend yourself. Policies that cover liability only are not that expensive. At the very least, get a quote on several different policies so you can make an informed decision based on the coverages versus the cost.

Visit BoatUS.com/Insurance to learn more about GEICO | BoatUS Marine Insurance or request a quote.

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Boat Insurance Guide

Boat Insurance Guide: Costs & Coverage

When it comes to insuring your boat, it’s often best to separate your boat insurance from your homeowner's policy. Many homeowners’ policies limit or don’t cover marine-specific risks, such as salvage work, wreck removal, pollution or environmental damage; but there are exceptions.

Types of Boat Insurance

Boat Insurance Costs
Boat Insurance FAQs

Insurance Factors

Insurers consider many factors when deciding whether or not to offer a policy. Almost any vessel can be insured— for a price. You want to consider the following to make sure the policy you purchase meets your needs:

Age of Boat
Speed/Horsepower
Condition (Does it meet US Coast Guard Standards in effect at the time it was built?)
Primary residence (If the boat is used as a primary residence)
Type (Inboard, Outboard, utility, cruiser, bassboat, saltwater fishing boat, performance boat)
Homemade (Boats without a serial number are tricky but many kits are okay)
Houseboats with no motor
Ownership (more than 2 owners)
Where it will operate (Ocean, lakes, bays, rivers, Great Lakes)

There are two basic types of boat insurance— “agreed value” and “actual cash value.” How depreciation is handled is what sets them apart.

An "agreed value" policy covers the boat based on its value when the policy was written. While it can cost more up front, there is no depreciation for a total loss of the boat (some partial losses may be depreciated).

"Actual cash value" policies cost less up front, but factor in depreciation. In other word, the policy will only pay up to the actual cash value of the boat at the time it is declared a total or partial loss. Eventually, as your boat ages, your insurer will likely insist on an actual cash value policy—and if often gives a substantial savings.

Kinds of Boat Insurance Policies

Personal Watercraft ( PWC )
Yacht - generally, vessels 26' and smaller are called "boats,” and "yachts" are 27' and larger. Yacht coverage tends to be broader and more specialized because larger boats travel farther and have more unique exposures.
Boat & PWC Rental - Although this is generally not required, rental insurance will help cover any damage the vessel, as well as the operator and passengers.
Boat Clubs - covers all members of club while operating a boat.
Professional (ProAngler, Fishing Guides & Charters) - These policies are very customizable and can cover items like travel to a tournament, equipment and more.

What Boat Insurance Policies Cover

How and where you boat determines the type of coverage you need. An "all risk" policy will offer the best protection. However, an “all risk” policy does not cover every type of loss. In insurance terms “all risk” just means that any risk not specifically omitted in the policy is covered. Typical exclusions include wear and tear, marring, denting, animal damage, manufacturers’ defects, design defects, ice and freezing.

You may also be able to add extra coverage. Available options may include: medical payments, personal effects, uninsured boaters liability, and towing and assistance. Most policies will cover permanently attached equipment, as well as items like anchors, oars, trolling motors, tools, seat cushions, and life jackets. Be sure to discuss these options with your agent.

Types of Boat Insurance Coverage

This will depend on the type of policy, but common coverage add-ons (in addition to basic ones above) include:

Specialized Coverage: Coverage for something specific on your boat like an expensive prop or navigation equipment.
Salvage: Coverage that pays to remove your boat due to damage, from substantial to minor.
Consequential Damage: Covers a loss that was the result wear and tear rather than an accident (rot, mold, corrosion).
Towing: Towing your boat across a body of water to safety can cost $400 per hour.
Cruising Extension: You can get temporary, additional coverage if you plan on leaving the USA (typically to Mexico or the Bahamas).

Insurance Claims

Hopefully, you will never need to make a claim but if you do, it’s good to be prepared. You are not required to carry proof of insurance on your boat, but it’s a good idea keep claim information handy for an emergency. Ask how the claim process works when you’re shopping for policies. Naturally, it should be quick and easy. In addition, find out if your agent (or other representative) will be available if you need help dealing with the aftermath of a claim, such as arranging for towing or salvage, rather than just cutting a check and leaving.

Shopping for Boat Insurance

Start with a little fact-finding. Ask your boating friends which company they use and how their claims have been handled. The way an insurer has handled claims in the past is a good indicator of the quality of service you can expect in the future.

State insurance regulatory agencies are also a good reference and can be found online.

Boat Insurance Cost Factors

Cruising Area: Where you boat.
Boating Safety Education: If you have been formally trained or certified.
Good Driving Records: Both boating and driving.
Liability Limits: The higher the limit the higher the cost.
Deductible: The higher the deductible the lower the premium.
Towing insurance requirements for offshore fishing (for example, a 20-mile tow could cost $3,000).

If you boat in a hurricane zone, your insurer may expect you to provide a hurricane plan. If a storm approaches, will you have it stored in a hurricane-proof facility or will you tow it or skipper it to a safer harbor. The answer can affect your rates, even lower them, but be prepared to follow the plan, because your coverage may hinge on it.

Insurance Discounts

There are a few ways to reduce your boat insurance costs. For example, if your boating is restricted by seasons and your boat is in storage during the winter, you can get deductions for winter layup. Many insurers offer discounts for good driving records and for anyone who has completed boater education classes. Finally, it usually costs less to be insured in fresh water versus salt, so be sure to discuss where you boat with your agent. You may earn extra savings by bundling your coverage with the same company that insures your home and/or car.

Before you buy your new vessel, it’s a good idea to determine your insurance costs based on your needs.

Boat Insurance Coverage FAQs

Small Boat (29' or less) Insurance

What is the best coverage for my boat?

It is best to have what is known as an "All Risk" policy, which will provide coverage for all types of losses except those specifically excluded in the policy. Typical exclusions may include wear and tear, gradual deterioration, marring, denting, scratching, animal damage, manufacturer's defects, defects in design, and ice and freezing.

How much should I insure my boat for?

You should insure your boat for the amount it would cost you to replace it with like kind and quality. This is called "Agreed Value" or "Stated Value" coverage, and in the event of a total loss, will pay the full insured amount. Beware of policies providing "Actual Cash Value" (ACV) coverage, which means the value of your boat will be replacement cost less depreciation.

What other coverages can I expect with my policy?

The following are standard coverages with standard deductibles and average limits:

Medical payments, $5,000
$1,000 limit Personal effects, $250 deductible
Uninsured boaters liability, between $300,000 and $500,000
$500 to $1000 limit Towing and assistance, no deductible
$1,000 limit Fishing equipment, $250 deductible

Who is allowed to operate my boat?

Most policies will allow anyone to operate your boat so long as you have given them permission. There are exceptions, of course, especially with high performance boats or personal watercraft so always read your policy. But beware, too many additional drivers often results in increased premiums.

I live in an area where I can't use my boat in the winter, but my lender requires it be insured year-round. What can I do?

Ask your insurance agent if they offer what is commonly referred to as a “lay-up” discount. You have year-round coverage with a discount for the months your boat is in dry storage.

Large Boat (Greater than 29') Insurance

What are the differences between boat and yacht insurance?

Generally "boats" are considered to be 26' and smaller, and "yachts" are 27' and larger. Generally speaking yacht coverage is broader and more specialized because larger boats travel further and have more unique exposures.

What should I look for in a yacht policy?

There are two main section s of a yacht policy. Hull insurance is all risk direct damage coverage that creates a very broad insuring agreement. It will include agreed amount hull coverage, meaning all parties agree at the time the policy is written on the value of the vessel and that value will be paid in the event of a total loss.

A true yacht policy also includes replacement cost (new for old) coverage on partial losses, with the exception of sails, canvas, batteries, outboards and sometimes outdrives, which are depreciated. Protection and indemnity insurance is the broadest of all liability coverages, and because maritime law is unique, you will need coverages that are designed for those exposures. Such things as Harborworkers and Longshoreman's coverage and Jones Act (crew) coverage can be critical, as an uncovered loss in this area could run into hundreds of thousands of dollars. Besides providing payment of judgments against you, P&I also provides for your defense in Admiralty Courts.

What is a normal deductible?

A yacht policy usually carries a percentage of the insured value deductible, for instance a 1%, deductible means a boat insured for $100,000 would have a $1,000 deductible. Most lenders allow a maximum deductible of 2% of the insured value. Beware of "named special deductibles" such as storm damage of 10% or more.

What are some of the other standard coverages I can expect?

These standard coverages have standard deductibles and average limits:

Medical payments, $10,000 limit
$5,000 limit personal effects, $250 deductible
$500,000 limit uninsured boaters liability, no deductible
$1,000 to $3,000 limit Towing and assistance, no deductible
$1,000 Hurricane haul out coverage. Small percentage of limit as deductible. Hurricane warning must be posted by NOA. Payment made to move boat to safe location, haul out or make special preparations to withstand storm.

What is Breach of Warranty?

That is coverage that primarily protects the lienholder's interest in your boat, paying off the balance owed but nothing more. If you breach the warranties in the policy, such as promising not to go outside your navigational limits, not to use your boat during the lay-up period, not to use your boat for anything but private pleasure use, and you do NOT have this coverage and experience a loss, you don't get paid for that loss and neither does the lender. You could end up making payments on a boat you cannot use.

Editor's Note: Information Courtesy of National Marine Lenders Association .

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What is the only thing better than attending a multi-day music festival? Getting to experience it on the water! Instead of battling concert traffic, boaters have the unique luxury of attending various music and art festivals by boat.

8 Tips for Planning a Wedding on a Boat

Want to host your wedding on a boat? Not only are boats cost-effective venues, but they're a romantic, unique, and memorable way to tie the knot (pun intended).

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Boat Insurance

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Manage Your Boat Insurance Policy

GEICO Marine (formerly Seaworthy) Policyholders

Log in to GEICO Marine to manage your policy or call (877) 581-BOAT (2628)
Mon - Fri 8:00 am - 10:00 pm, Sat - Sun 8:00 am - 9:15 pm

SkiSafe Policyholders

Log in to SkiSafe to your policy or call (800) 225-6560
Mon - Thu 9:00 am - 7:00 pm, Fri 9:00 am - 6:00 pm, Sat 9:30 am - 5:30 pm

Or call us at (800) 841-3005

Need a boat insurance quote?

Existing boat policyholder?

Get a boat insurance policy to protect your investment.

Boat insurance is crucial for protecting your investment, whether you're navigating lakes, rivers, or ocean waters across the United States. With GEICO for your boat and BoatUS–the nation's largest group of recreational boat owners–you're backed by a partnership with over 50 years of experience in making boating safer and more enjoyable.

Whether you're looking to start a new policy or find savings on an existing one, we're here to make boating better. Get started with a free boat insurance quote today and benefit from competitive rates without compromising on service. Protect your peace of mind and enjoy the waters with confidence, knowing that you have reliable coverage from names you can trust.

Why do you need boat insurance?

A boat insurance policy helps protect you and your boat. If you don't have a separate boat insurance policy, you're probably underinsured. This could mean paying a lot out of pocket for accidents outside your control. Many homeowners policies cover minor boating risks but don't cover your needs sufficiently due to:

Size restrictions
Limitations on horsepower
Limits on damage coverage

Boat insurance can provide coverage for:

Damage to your boat including hull, sails, equipment, and more.
Fuel spill liability
Liability to pay for damages and injuries you cause if you hit another boat, person, or dock
Medical coverage for you and persons in your boat.
Wreckage removal

Check out our "boating insurance explained" video for more reasons why boat insurance is a smart idea.

What types of watercrafts are covered by boat insurance?

All boats aren't the same. You need to customize your boat insurance to meet your needs and provide your watercraft with the proper coverage. Here is a list of the most common types of watercrafts.

Pontoon boats are one of the most popular inland water boats. They are a flattish boat that rely on floats to remain buoyant. Their wide and spacious area is great for many passengers to enjoy the ride.
Personal watercraft (PWC) are powered by a water jet pump and the rider generally sits, stands, or kneels on it. There are many types of PWCs which include WaveRunners, Sea-Doos and more.
Fishing and bass boats are designed and equipped for fishing. Most are powered by an outboard motor and are equipped with power poles, trolling motors, etc.
Powerboats are the most popular type of boat used for cruising, watersports, and so much more.
Sailboats are propelled partly or entirely by sails.

If you don't see your watercraft listed and are looking for more information on different types of boats and insurance for boats, check out our boat FAQ page .

What does boat insurance cover?

Understanding the different types of boat insurance coverage is crucial for ensuring your watercraft and your finances are protected against on-water incidents. At GEICO, we offer a variety of coverage options to suit every boater's needs, including:

Liability Coverage

Essential for all boat owners, liability insurance covers damages and injuries to others if you're at fault in an accident. This includes costs associated with injuries, property damage, and legal fees.

Hull and Equipment Coverage

Hull and Equipment Coverage protects your boat if it collides with another vessel or object. It also covers non-collision-related damages to your boat, such as those from fire, theft, or storms.

24/7 Boat Towing*

Boat towing coverage assists with towing costs and provides emergency services if your boat breaks down or you get stranded, so you can have peace of mind on the water.

Each type of coverage provides specific protections, allowing you to customize your policy according to your boating lifestyle and the risks you might encounter. Whether you're a casual weekend sailor or a dedicated marine enthusiast, understanding and selecting the right boat insurance coverages can make all the difference. Choose the boat insurance coverage that best fits your needs and sail with confidence knowing that GEICO has you covered.

How much does boat insurance cost?

Boat insurance is based on the type of boat, length, number of engines and horsepower, how you use it (recreation, charter, racing, etc.), and how and where it will be stored. All of these factors, including the experience and claims record of the owner/primary operator will factor into the cost of boat insurance.

Boost Your Savings With our Boat Insurance Discounts

GEICO offers several boat insurance discounts to help make coverage more affordable for boat owners. Some discounts include:

Multi-Policy Discounts

Save on boat insurance by bundling it with your GEICO Auto or additional GEICO Marine policy.

Boat Safety Courses

Discounts are available for boaters who have completed an approved boating safety course such as State Certified Safety , American Sailing Association Course , U.S. Power Squadrons , Charter Boat Captain's License, and U.S. Coast Guard Auxiliary .

Full-Pay Discount

Paying your policy in full upfront instead of in installments can lead to savings.

It's always a good idea to speak directly with a GEICO representative for the most current information regarding discounts and how you might be able to apply them to your policy.

Secure Your Boat Insurance Today

Don't wait until it's too late to think about protecting your boat. At GEICO, we offer tailored boat insurance policies designed to meet the unique needs of every boater.

Take action now! Get a free, no-obligation quote today, or speak directly with one of our specialists. They're available to answer your questions and guide you through your policy options, ensuring you have the perfect coverage for your boating lifestyle.

Call Us: (855) 395-1412

Mon - Fri 8:00 AM - 10:00 PM (ET)
Sat - Sun 8:00 AM - 9:15 PM (ET)

Boat Insurance FAQ

Is boat insurance required? Boat insurance liability coverage is only mandated in a few states, so always check insurance requirements for the state you're boating in. Physical damage coverage is required by your lender if you're financing your boat or watercraft. If you keep your boat at a marina, the marina may require you to have liability coverage.
Liability to pay for damages and injuries you cause if you accidentally hit another boat, person, or dock

There are some types of watercrafts that are not eligible for a GEICO boat policy including but not limited to:

Airboats, amphibious land boats or hovercraft
Boat with more than 4 owners
Boats over 50 feet in length
Boats over 40 years old
Boats valued over $2,500,000
Floating homes
Homemade boats
Houseboats that do not have motors
Steel hulls
Wooden hulls
Watercraft previously deemed a constructive total loss
Does boat insurance cover theft? Our Agreed Hull Value, and Actual Cash Value policies protect against damage to your watercraft from incidents out of your control, including theft.
How do I make a payment or manage my boat insurance policy? Managing your boat insurance policy and making payments is easy in the BoatUS app. You can also manage your policy or make payments online , or by calling (800) 283-2883 .
How do I report a claim on my boat insurance policy? You can report your claim through the BoatUS app. Claims can also be reported online , or by calling (800) 937-1937 .

GEICO has teamed up with its subsidiary, BoatUS, to bring boaters a policy developed by specialists, with the great service you expect from GEICO. Policies are underwritten by GEICO Marine Insurance Company. BoatUS—Boat Owner's Association of The United States—is the nation's largest association for recreational boaters providing service, savings and representation for over 50 years.

The above is meant as general information and as general policy descriptions to help you understand the different types of coverages. These descriptions do not refer to any specific contract of insurance and they do not modify any definitions, exclusions or any other provision expressly stated in any contracts of insurance. We encourage you to speak to your insurance representative and to read your policy contract to fully understand your coverages. Some discounts, coverages, payment plans, and features are not available for all customers, in all states, or in all locations.

*Boat and PWC coverages are underwritten by GEICO Marine Insurance Company. The TowBoatU.S. Towing Coverage Endorsement is offered by GEICO Marine Insurance Company, with towing services provided by the BoatU.S. Towing Program. Towing coverage only applies to the insured watercraft.

Boat Insurance

Get specialized boat insurance for as little as $100 per year *

Enter the ZIP Code where your boat is kept during boating season. . Read more

Bundle and save an average of 5% on auto! Δ list with 3 items

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Progressive simplifies boat insurance

We give you the freedom to boat wherever you'd like on any lake or river in the U.S. and Canada, plus ocean waters within 75 miles of their coasts. And, we drop the common requirements and restrictions other insurers may force on you. For example, we don't require a marine survey to purchase your policy, which could cost around $600 for a 30-foot boat. Get a boat insurance quote from Progressive so you have the protection you need to get on the water right away.

We insure over 1 million watercraft, and we can help insure yours, too

With over 35 years of boat insurance experience, we know how to keep you afloat. So, as long as your boat or personal watercraft (PWC) is valued at no more than $500,000 and is up to 50 feet long, we’ll most likely insure it. †† Don’t see your watercraft listed here? Call us at 1-855-347-3939 and we’ll do what we can to get you covered.

Bass & fishing boats

Boats built specifically for fishing, with features like trolling motors, power poles, etc.

Pontoon boats

Boats built on hollow metal cylinders for cruising on lakes and rivers

The most popular type of boat, used for fishing, cruising, watersports, and more

Personal watercraft (PWC)

These include Jet Skis, Sea-Doos, WaveRunners, and similar watercraft meant for one to three people

Boats that use at least one sail for power, although they may also have a motor

Ways to save

A boat insurance policy that offers more in savings

See why we're way above water when it comes to boat insurance discounts. Get a boat insurance quote online and we'll automatically apply each discount you're eligible for.

Multi-policy

Is your home, car, motorcycle, or RV insured with us? You could save even more on boat insurance if you have another Progressive policy.

You’ll earn a discount for having more than one watercraft on your policy.

Original owner

One of the easiest ways to save! If you are the original owner of your watercraft, we’ll give you a discount.

Safety course

Anyone can save. Just complete any state-approved safety course to save even more on your boat insurance policy.

Boat insurance that covers those choppy waters

We automatically include liability to pay for damages and injuries you cause if you hit another boat, person, dock, buoy, or something else. Plus, we offer comprehensive and collision to pay for damage to your boat in addition to other protections and benefits that you may not get with every insurer.

Some of our coverages

Sign & Glide® on-water towing †

If you run out of gas or your boat breaks down on the water, Progressive’s optional Sign & Glide coverage pays for on-water towing, fuel delivery, ** soft ungroundings, and jump starts. We even arrange for the tow and pay the tow operator directly (in most cases). Simply download our Sign & Glide app on your smart phone and you’ll never worry about an on-water breakdown. More on Sign & Glide .

Example: You run out of gas in the middle of a lake. If you added this protection, just call our dispatch center (number included on your policy card) or contact us through the Sign & Glide app. We’ll then deliver fuel and/or tow you to the nearest shore.

Full replacement cost

When your watercraft needs to be repaired, we always bring your boat back to its previous condition or better, and never depreciate the value of any of your parts.

Example: Four seats are damaged on your 10 year-old boat. They’re older and only worth $50 each, so some insurers may only give you $200 ($50 per seat). But, you need new ones that cost $250 each. We’ll pay the full $1,000 for all new seats. That's an $800 difference!

Propulsion Plus®

Add Propulsion Plus and we repair or replace the lower unit of an outboard motor, or upper and lower units of an inboard/outboard motor, if you have a mechanical breakdown—even if it’s caused by wear and tear. Propulsion Plus is optional and starts at just $38/ per year. Compare that to the thousands you could pay out of pocket to fix it on your own.

Example: Your lower unit is 10 years old and simply runs its course and dies on you. Typically, normal wear and tear wouldn’t be covered by insurance. But if you add Propulsion Plus coverage, we pay to repair or replace your lower unit.

Wreckage removal & fuel spill

Wreckage removal and fuel spill coverages are automatically included in every Progressive boat insurance policy. If your boat sinks or you’re responsible for a fuel spill, we cover the bills all the way up to your policy’s property damage liability limits. We only remove your sunken boat if it’s legally required.

Example: Your old boat sinks while docked. The Coast Guard may require you to remove the wreckage and address any fuel spills. Just contact us to file the claim, and we cover the costs.

Insurance limitations for boats and PWCs

When it comes to boat insurance, Progressive boasts some of the broadest acceptability in the business. But there are some types of vessels that can’t be added to a new or existing Progressive policy:

Boats 0-10 years old and worth more than $500,000
Boats 11-20 years old and worth more than $350,000
Boats more than 20 years old and worth more than $75,000
Boats used as a primary residence (live aboards)
All houseboats
Homemade boats without a hull identification number
Boats with more than two owners
Boats with steel or wood hulls
All amphibious land boats, hovercraft, or airboats
PWCs worth more than $27,000
Boats that do not meet published U.S. Coast Guard standards

We also cannot insure boats over 50 feet in length. In some hurricane-prone states, the limits can be 35 feet and $175,000 in value.

Common questions about boat insurance

How much is boat insurance?

Your price for boat insurance is based on numerous factors, including:

Location: Watercraft insurance is generally more expensive if you boat in a coastal state. You may pay less for boat insurance in states where boating is not a year-round activity.
Boat type: The year, make, and model of your watercraft will affect your policy’s cost.
Boating history: Experienced boaters are less likely to have an accident on the water and will often pay less for boat insurance compared to inexperienced boaters.
Prior claims: If you have a history of boat insurance claims, you could pay more to insure your boat and for liability protection.

Boat insurance policies are generally affordable. Nearly 75% of Progressive’s boat insurance customers pay their policies in full. Find out more about the cost of a boat policy and learn ways to attain cheap boat insurance .

Is boat insurance required?

Boat insurance is mandated in only a few states but, if you're financing your watercraft, you're typically required by your lender to carry comprehensive and collision coverage. Additionally, if you dock your boat, your marina may require you to show proof of liability coverage. Find out the boat insurance requirements in your state .

Does boat insurance cover theft?

Comprehensive coverage protects against damage to your watercraft from incidents out of your control, including theft .

Does boat insurance cover the boat trailer?

Damage to your boat trailer is typically covered if you add your trailer to your boat insurance policy. You're protected against damage to your boat trailer even if your boat isn't on the trailer at the time of the incident. Learn more about boat trailer insurance .

CHECK OUT WATERCRAFT EQUIPMENT FROM LEADING BOAT DEALERS

Come see us at an upcoming boat show and browse equipment for any lifestyle, activity, or budget.

Quote boat insurance and be covered for as low as $100/year *

Get a quote Or, call 1-855-347-3939

Monday - Friday: 8:00am to 8:00pm Eastern Time

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Find a business

Boat Distributors Manufacturers in Moscow, ID

Name (A - Z)

1. Renaissance Marine Group

From Business: In 2000, Weldcraft Marine Industries and Duckworth Boat Works came into a partnership to create Renaissance Marine Group. The company manufactures a range of…

2. Thunder Jet

From Business: Founded in 1981, ThunderJet is one of the world's leading jet boat manufacturers. The company s trailers feature tandem axles, dual brakes, bunk covers, spare…

3. Duckworth Boat Works Inc

4. riddle marine inc, 5. bentz boats, 6. sjx jet boats inc.

YP - The Real Yellow Pages SM - helps you find the right local businesses to meet your specific needs. Search results are sorted by a combination of factors to give you a set of choices in response to your search criteria. These factors are similar to those you might use to determine which business to select from a local Yellow Pages directory, including proximity to where you are searching, expertise in the specific services or products you need, and comprehensive business information to help evaluate a business's suitability for you. “Preferred” listings, or those with featured website buttons, indicate YP advertisers who directly provide information about their businesses to help consumers make more informed buying decisions. YP advertisers receive higher placement in the default ordering of search results and may appear in sponsored listings on the top, side, or bottom of the search results page.

Places Near Moscow, ID with Boat Distributors Manufacturers

Viola (12 miles)
Pullman (14 miles)

Related Categories

Member info

Full information About Member, contact

Malakut Insurance Brokers LLC

Tel: +74959331373 FAX: +7 4959331370 Email: [email protected] Web: www.malakut.com

HQ Address: 12, Malaya Sukharevskaya Sq., Moscow, 127051, Russia

International Practice Group Address: 12, Malaya Sukharevskaya Sq., Moscow, 127051, Russia

Legal form ofthe company (plc etc. ): LLC

Registration number of the regulatory authority: 4004

Business area / specialization:

Corporate P&C

Personal lines and EB

Aviation and Space

Marine and Energy

Trade Credit

Reinsurance

Company Representatives

Tatiana Razuvaeva

+7 495 933 1373 +7 916 473 7884 +7 495 933 13 70 [email protected]

telephone mobile fax e-mail

IMAGES

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Sailboat Insurance: The Best Options By Far
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Overview of Sailboat Insurance Coverage and How Much is Needed
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COMMENTS

Sailboat Insurance Guide: Costs, Requirements & More
The cost of sailboat insurance varies by the age of your vessel, its length, its motor type, and the boat's location. But, sailboat insurance usually costs a few hundred dollars a month, or between 1% and 5% of your vessel's value. For instance, if you have a $200,000 sailboat, and insurance is about 2% of its value, it could cost you ...
Sailboat Insurance: Understanding Coverage and Cost
Learn about the different types of sailboat insurance, coverage options, and factors that impact the cost of insurance for your sailboat. Find out if you need insurance for your sailboat and how to choose a good policy for your needs.
Sailboat Insurance: The Best Options By Far
Learn how to find the best sailboat insurance coverage for your boat and budget. Compare the features, benefits, and costs of different boat insurance companies and policies.
A Guide to Sailboat Insurance
Learn how to choose the right sailboat insurance policy for your needs, avoid common mistakes, and lower your premiums. Compare different types of coverage, factors to consider, and tips for sailing safely and securely.
Sailboat Insurance: Get a Quote
Learn about sailboat insurance requirements, coverages, and discounts from Progressive. Find out how to protect your sailboat against physical damage and liability with flexible and affordable policies.
Navigating Boat Insurance: Requirements & Coverages You Need for Your
February 21, 2024. Some policies will subtract salvage costs from the insured value of the boat. BoatU.S. You can choose to work with a major company, such as getting Geico boat insurance or Progressive boat insurance, or you can go to a smaller provider. But one thing is for sure: If you have a boat or PWC, you will need insurance coverage.
Sailboat Insurance
Save on Boat Insurance. Our independent agents shop around to find you the best coverage. Few activities offer such a sense of freedom, self-reliance, and accomplishment as guiding a sailboat across crystal blue waves. Maybe you are a long-time sailboat owner and you are wondering whether you can find better rates or lower costs on your ...
Sailboat Insurance Guide: Cost Coverage and More
Sailboat Insurance: Requirements. Most states do not require sailboat insurance unless you live in Utah or Arkansas. Typically, there are two scenarios when you're required to have an insurance policy on your sailboat: If you have a loan on it and your lender requires an insurance policy to protect their investment.
Sailboat Insurance: Navigate Your Risks with the Right Coverage
Choosing the Right Sailboat Insurance. Choosing the right sailboat insurance is much like selecting the perfect sailboat; it requires careful consideration and a keen eye for detail. Here's how to ensure you're getting the best policy for your needs: Comparison Shopping. Don't anchor yourself to the first quote you receive.
Boat Insurance: An In-Depth Guide
NerdWallet looked at the top 25 auto insurance sellers in the country and found these that also offer boat insurance: AAA. Offers coverage for boats up to $250,000 in value. AAA lowers your ...
Boat insurance requirements by state
Liability requirements for boat insurance coverage by state. The following coverages are the basis of all Progressive boat policies: Property damage liability coverage may pay for damages to another boat, marina, or dock if your boat caused the damage. It may cover legal fees related to the incident as well. Bodily injury liability coverage may ...
Do You Need to Have Boat Insurance?
Boat insurance requirements by state. Arkansas, Hawaii and Utah are the only states that require boat insurance for certain boats or harbors. Arkansas: Liability coverage of at least $50,000 is required for all boats with engines rated 50+ horsepower. Hawaii: Liability insurance of at least $500,000 is required only for boats parked in Division ...
Boat Insurance Coverage Options
Boat insurance is not required in all states. However, if you finance your boat or dock it at a marina, you may be required to have a specialty boat policy. Get more information on boat insurance requirements. Off the water, you may be able to insure your boat on your homeowners insurance policy. But homeowners policies typically cover small ...
Do I Need Boat Insurance?
Many umbrella or excess liability policies require the underlying policy (such as your boat policy) have liability limits of at least $300,000 to $500,000. Even if you are not otherwise required to have insurance and your boat is not worth very much, you should still consider insuring it. A collision with a small powerboat can cause serious ...
Boat Insurance Guide: Costs & Coverage
A yacht policy usually carries a percentage of the insured value deductible, for instance a 1%, deductible means a boat insured for $100,000 would have a $1,000 deductible. Most lenders allow a maximum deductible of 2% of the insured value. Beware of "named special deductibles" such as storm damage of 10% or more.
Do You Need Boat Insurance? Answers to the Top 9 Questions
According to Progressive, the cost of boat insurance generally ranges from $277 to $753 per year. Depending on the type of boat, the boat's location, and your profile, your insurance costs may be higher or lower. When pricing policies, a good rule of thumb is for your annual premiums to land around 1.5% of the current market value of your boat.
Boat Insurance
Boat insurance liability coverage is only mandated in a few states, so always check insurance requirements for the state you're boating in. Physical damage coverage is required by your lender if you're financing your boat or watercraft. If you keep your boat at a marina, the marina may require you to have liability coverage.
Boat insurance coverage for watercraft and jet skis
If your boat causes injury to others or damage to other boats, docks, or structures, boat liability insurance can help you.1 Injury or damage can be due to direct contact with your vessel or situations caused by your vessel, like large wakes. Boat liability coverage may provide protection against lawsuits, including the payment of settlements and legal fees.
Boat Insurance: Get a Free Quote in Minutes
When it comes to boat insurance, Progressive boasts some of the broadest acceptability in the business. But there are some types of vessels that can't be added to a new or existing Progressive policy: Boats 0-10 years old and worth more than $500,000. Boats 11-20 years old and worth more than $350,000. Boats more than 20 years old and worth ...
Best 30 Boat Manufacturers in Moscow, ID with Reviews
Places Near Moscow, ID with Boat Manufacturers. Viola (12 miles) Pullman (14 miles) Related Categories Boat Equipment & Supplies Boat Storage Boat Maintenance & Repair Storage Household & Commercial Boat Builders Public & Commercial Warehouses Recreational Vehicles & Campers-Storage Automobile Storage Boat Yards Sightseeing Tours
Vnukovo International Airport Map
Vnukovo, formally Vnukovo Andrei Tupolev International Airport, is a dual-runway international airport located in Vnukovo District, 28 km southwest of the centre of Moscow, Russia.
Vnukovo Map
Vnukovo. Vnukovo District is an administrative district of Western Administrative Okrug, and one of the 125 raions of Moscow, Russia. Most of the district is occupied by Vnukovo International Airport, a small adjacent residential area, and a separate residential micro-district. Photo: Ssr, CC BY-SA 3.0. Ukraine is facing shortages in its brave ...
Malakut Insurance Brokers LLC
HQ Address: 12, Malaya Sukharevskaya Sq., Moscow, 127051, Russia . International Practice Group Address: 12, Malaya Sukharevskaya Sq., Moscow, 127051, Russia

Sailboat Insurance: The Basics

What Sailboat Insurance Covers

Sailboat Insurance Cost

Sailboat Insurance Requirements

What You Need For a Sailboat Insurance Quote

The Best Sailboat Insurance

Types of Sailboat Insurance

Coverage Options

Factors That Impact Insurance Costs

Do I Need Insurance for my Sailboat?

How to choose a good insurance for your sailboat

Determine Your Coverage Needs

Shop Around

Check the Financial Stability of the Insurance Company

Consider the Deductible

Read the Policy Carefully

Work with a Trusted Insurance Agent

Conclusion on How to choose a good insurance for your sailboat

Recent Posts

How to Find the Best Sailboat Insurance Coverage for You

What Does the Boat Insurance Cover?

Types of Boat Insurance Policy

Important Things to Know

Best Sailboat Insurance Companies

Allstate - Best for Budget

Nationwide - Best Option for Bundling

United States Power Squadron (USPS) Boat Insurance Program - Best for USPS Members

Markel - Best for Anglers

BoatUS - Best for Additional Benefits

State Farm - Best for Emergency Services Coverage

Foremost - Best for Flexible Coverage Options

Hagerty - Best for Classic Boats

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A Guide to Sailboat Insurance

Understanding Sailboat Insurance Coverage

Types of Sailboat Insurance Policies

Factors to Consider When Choosing Sailboat Insurance

Navigating Liability Coverage for Sailboat Owners

Protecting Your Sailboat Against Physical Damage

Coverage for Accidents

Cost of Repair?

Specialized Coverage for Racing Sailboats

Racing Sailboat Coverage

Unique Policy Considerations

Premiums and Deductibles

Exploring Additional Coverage Options for Sailboat Insurance

Tips for Lowering Sailboat Insurance Premiums

The Claims Process for Sailboat Insurance

Common Mistakes to Avoid When Insuring Your Sailboat

Expert Advice on Choosing the Best Sailboat Insurance Policy

Frequently Asked Questions

What Is the Difference Between Agreed Value and Actual Cash Value in Sailboat Insurance?

Are There Any Discounts Available for Sailboat Insurance if I Have Completed a Boating Safety Course?

Does Sailboat Insurance Cover Me if I Sail in International Waters?

Can I Add Coverage for Personal Belongings and Equipment Stored on My Sailboat?

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Boat Test: 2024 Brabus Shadow 1200 Sun-Top