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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.
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Power Boat Insurance
(Here's how you can easily find coverage today.)
More than seven million people visit our site every year looking for unbiased information about insurance and other related topics. And with great readership comes great responsibility, which means we’re dedicated to providing honest and accurate information.
Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career. He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.
Are you a speed boat enthusiast? Are you investing in a power boat and trying to determine what coverage you need? Contact a local independent insurance agent for free power boat insurance quotes from several reputable insurers.
These friendly professionals can shop around and find you the best rate for a policy that meets your unique needs.
Save on Boat Insurance
Our independent agents shop around to find you the best coverage.
Speed Boat Safety Statistics
While you’re thinking about purchasing insurance for your speed boat, it might be good to refer to a few facts. This data can help you understand the risks you face and how insurance companies think about your protection needs.
- In 2019, open power boats reported more accidents than any other type of watercraft.
- That year, 46% of all accidents occurred in boats of this type.
- In 2019, only 14% of fatalities took place on boats whose operator had completed boat safety training.
Is Speed Boat Insurance Required?
Regulations vary by state and county, but speed boat insurance is not required by law in most jurisdictions. However, this does not mean you shouldn’t consider it. Boating accidents are quite common, especially for boaters who are new to the activity.
Even if you have a lot of experience operating a jet boat or performance boat, you should still consider a boat insurance policy to cover yourself in case of accidents or injury.
The Top Causes of Power Boat Accidents
The following were the top five causes:
- Operator was inattentive or distracted.
- Operator was inexperienced or untrained.
- Boat was traveling at excessive speed.
- Operator failed to properly look out.
- Operator was under the influence of alcohol.
In 2019, alcohol was a contributing factor in 18% of all watercraft deaths.
Types of Power Boat Insurance
Every power boat operator has different needs, so it is important not to buy a one-size-fits-all policy. Get coverage that is customized for you. The right agent can help tailor your coverage to fit your unique needs.
Your policy may contain several different types of speed boat insurance to cover various aspects of your risk, including the following:
- Property damage liability coverage: No matter how experienced a boater you are, there is always a chance you could collide with another boat, a dock, or other property. Property damage liability insurance covers you in case you damage another boat, a dock, or other structure. If you plan to operate your speed boat in an area populated by other boaters, be sure you are prepared with adequate property damage liability insurance.
- Bodily injury liability coverage: This coverage protects you in case you injure another person while operating your power boat. You are covered whether that person is a passenger on your boat, on someone else’s boat, or even on land. This is perhaps the most important coverage in your power boat insurance policy, because a collision with a fast-moving speed boat can cause traumatic injuries. Your power boat liability insurance will help to cover legal costs in the event that an injured party files a lawsuit.
- Collision coverage: This covers your boat and trailer if an accident physically damages your boat. If you end up striking a submerged log or rock, or if you fail to navigate a landing properly, you may have a large expense on your hands to repair your watercraft and get it back in working order. This portion of your policy will help you cover these costs, after your deductible is met.
- Comprehensive coverage: Whether you are driving, docking, towing, or storing your boat, it is at risk of many types of damage. It might be a target of vandalism, or you might fail to secure it properly when it’s moored. It might suffer from a fire or capsize after a severe storm. It could even be stolen while sitting on a trailer in your driveway. Whatever the risk, comprehensive insurance protects your investment when "other than collision" events damage your speed boat.
Is Power Boat Insurance Available Online?
You can easily search for speed boat insurance quotes online. This is a convenient method of research that can help you get a lot of preliminary information fast. When it comes time to buy, you might have some questions - and that's where a living, breathing insurance agent can be very helpful.
An independent agent is a great resource when you're looking for quotes online or offline. Independent agents have access to several top insurance companies, understand many different coverage options and available discounts , and can help you find the right power boat insurance for your needs.
Find Discounts and Savings on Your Powerboat Insurance
Power boating has its risks, and every year scores of people are injured or killed while operating speed boats. If you are a speed boat enthusiast, safe driving precautions can keep you and your passengers safe, and can also help you to keep your power boat insurance costs down. Remaining claims-free is one of the best ways to lower your boat insurance costs .
Here are some important safety tips for speed boaters:
- Do not operate a powerful speed boat until you have undergone safety training.
- Do not allow inexperienced users to operate your boat unsupervised.
- Keep your eyes open, and be vigilant in all directions.
- Avoid racing your boat at excessive speeds.
- Most importantly, do not overindulge in alcohol while operating a power boat.
Getting the Best Power Boat Insurance at the Best Price
When you decide to buy power boat insurance, find an independent agent . These agents will help you find the right policy for your needs at a rate you can afford. You will feel more confident about your insurance coverage, because you had more choices and more help.
Simply find a local independent insurance agent. Your agent will fully assess your insurance needs and ensure that you get the quality, affordable power boat insurance you need for peace of mind on the water.
USCG 2019 boating statistics
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Ahoy! Boat Insurance - Benefits for Boaters
Leveraging technology and our boating expertise to provide you with the best insurance, coupled with a better and safer experience on the water.
Get a Great Boat & Yacht Insurance Quote, Fast
Receive extensive coverage at a great price from expert boaters who understand your needs, with a quick and easy online quote.
A Worry-Free Boating Experience
Enjoy our advanced tech providing you with safe boating, weather alerts, and boat retrieval assistance features for an enjoyable and safe experience on the water.
Supporting You When Something Goes Wrong
We are there for you, online and by phone, so your claim process is quick and easy, supported by our team and mobile app.
A boat isn't just another piece of property
It’s a lifestyle choice. It’s where you create memories, it’s your escape when you need a little serenity or a place to run to for some excitement.
We’re boaters, we get that.
Ahoy! is a new boat and yacht insurance company designed by people who understand and care about boating as much as you do. Ahoy! provides innovative recreational boat and yacht insurance that leverages proactive, risk-reducing technology to keep the most exciting aspect of your life stress-free. From Cabin Cruiser Insurance , to Power Boats , Bass Boats , Sailboats , Pontoon Boats , Yachts, and more, Ahoy! is there to help!
Get a Quote
How does Ahoy! boat insurance work?
In four simple steps, you can get boat and yacht insurance coverage, get unique benefits, and connect to our mobile app to benefit from multiple features which will help you stay safe on the water.
Get a Quote & Pay
Leveraging our seamless sign-up process, get the most modern-minded, tech-driven boating insurance policy out there in just under 10 minutes.
Now that you are a mate, download our mobile app, easily scan photos of your boat or yacht for lower claim deductibles and help in case of theft.
Sail away into the horizon. Feel fully at peace knowing that our technology-powered mobile app is looking out for you.
Just in Case
If there’s an incident, we’ve got your back. Our 24/7 First Mate is there for you every step of the way to help resolve any issues or if you need to file a claim.
Cutting Edge Technology
Ahoy's mobile app and the boat recovery assistance tag equip you with additional advanced functionalities at no extra charge, to keep you and your boat/yacht safe so you can make the most out of your time on the water.
Weather Information and Alerts
Phone overboard, processing claims, stolen boat recovery assistance.
Wherever you are, and whatever you do, sailing or at home/work, we follow the weather where your boat is, allow you to watch the weather forecast and send you alerts about imminent weather threats.
Ahoy! provides exclusive mobile phone overboard coverage*. The Ahoy! mobile app includes a sailing auto-detection feature that knows when you've set sail, so your mobile phone is automatically insured every time you're on the water. *Deductibles may apply
Using the Ahoy! mobile app, you can self-scan your boat/yacht, by taking a series of photos which will be stored in our secured cloud. The self-scan serves as your boat's digital file, and can help in quick processing of damage-related claims (by sending the same set of photos showing the damage). Uploading these photos of your boat/yacht will qualify you for a lower deductible.
Upon becoming a mate, we will mail you a welcome kit containing a boat recovery assistance tag. The assistance tag, together with the self-scan images will be instrumental in instructing the authorities assisting with the search for your boat/yacht in case it was stolen.
Marine Coverage
- A maximum length of 50 feet.
- An age limit of 40 years with a valuation cap of $500,000 .
- Engine power up to 500HP for single or dual-engine crafts, or a total of 1050HP for vessels with triple engines (limited to three engines).
Yacht Insurance Power boat insurance Fishing boat insurance Pontoon boat insurance Sailboat insurance
Insurance coverage.
- Comprehensive and Collision
- Uninsured/Underinsured Boaters
- On-Water Towing
- Fishing Equipment
- We also offer Roadside Assistance, Boat Rental Reimbursement, and coverage for your personal effects.
Liability Uninsured/Underinsured Boaters Fishing Equipment Medical On-Water Towing Comprehensive and Collision
In most ways, I’m all about having fun in life, enjoying challenges and people. So it makes sense that boating is my natural element. But when it comes to important practicalities, like boating insurance, I’m very no-nonsense. I would only ever work with a company like Ahoy! that offers the absolute best coverage. Because if I can’t feel truly carefree, fun isn’t actually fun.
I’ve always wanted boating insurance with specialized expertise in boats, like Ahoy!, not just an add-on to car or home insurance. Until now, there has been a real gap in information, coverage, and understanding of what boating really is for me - a kind of escape.
Karen Harris
Everything is better on the water. It’s where we make memories that last forever. Ahoy! understands how important boating is to me and my family because they are boaters like me.. I can enjoy my boating time more fully, because I know my most precious toy is protected.
Justin Monge
Boating is a lifestyle, not a hobby. And my boat is just as important, if not more so, than my house, car, and other assets. So, it’s critical that my boat coverage is comprehensive and leaves me without worries – like Ahoy! does - allowing me to fully disconnect from the rigors of work and fully reconnect with myself.
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Write boat/yacht insurance coverage for us.
Differentiate your agency by providing your clients with the best and most modern boat and yacht insurance available! We created a user-friendly agent portal through which you can easily price, quote, bind and track your portfolio. We offer an attractive commission structure , as well as special agent incentives, which are available for a limited time during our initial roll-out in your state.
We are fast!
Get your boat insurance policy in under 10 minutes!
More Boat Topics
- Boat Liability Insurance
- Fishing and Bass Boat Insurance
- Boat Repair Cost Coverage
- Non-Motorized Boat Insurance
- Personal Effects Fishing Equipment Coverage
- Personal Watercraft
- Powerboat Insurance
- Sailboat Insurance Coverage
- Yacht Insurance
Comprehensive Boat Insurance
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- Expert support for all your questions
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The information on this web page represents only a brief description of coverages and may or may not be part of your policy. Insurance policy terms and conditions may apply. Coverage features and limits vary by state and may be subject to change. Some products are not available in every state. Discount availability and eligibility vary by state and policy terms. (Discounts may only apply to auto and property policies.) Please check with your agent and read the policy for exact details on coverages and exclusions.
* Discount and savings amounts and product eligibility will vary by state, property type, policy form and company underwriting the auto and/or homeowners policy. Discounts may not apply to all coverages on an auto or property policy. Discounts do not apply to a life policy. Some restrictions may apply.
**Refer to your policy documents for coverage limit details. Coverage applies to covered losses only after your individual property & coverage specific deductible(s) has been met. Please speak with your agent to learn more about your coverage options.
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High performance boat insurance
High performance boats need high performance insurance.
Find a Markel marine agent and get a free, no-obligation quote today.
Trust one of the leading marine insurance providers with over 45 years of experience.
For over 45 years, we’ve provided specifically tailored policies for high performance boats that offer customizable coverage, flexible payment options and a team of experienced claims specialists to help you every step of the way. Your high performance watercraft should be insured with a high performing policy that provides coverage for all your specific needs.
Why do you need high performance boat insurance?
If you have a high performance boat, you're most likely carrying some kind of insurance on it—but is it the right kind of insurance from the right kind of insurance provider?
Still not sure?
Here’s a few of the advantages to insuring your high performance boat with us:.
Customizable coverage to suit your boating style.
Discounts and cost-effective coverage options to save you money.
Experienced high performance boat underwriters and marine claims specialists who provide prompt, responsive service.
Flexible payment options.
Save money by customizing your high performance boat insurance
Transit and storage If your boat being refurbished, this is an option to save you money when you're not using your boat.
Actual cash value coverage (ACV) Reduce your coverage to ACV, which factors in depreciation of your high performance boat should you have to file a claim.
Mature operator discount Is the primary operator of your high performance boat 40 or over? If you answered yes, your policy qualifies for a discount.
What we offer
If your speedboat goes over 65 m.p.h., then it needs serious protection. Insurance protection, that is.
Our coverages can include:
- Coverage for your high performance boat
- Coverage for you
- Optional coverages
Hull and equipment insurance protection including:
- Protect and recover can cover reasonable costs incurred when trying to protect your high performance boat from further damage after an accident.
- Agreed value for total loss, which locks in the value of your boat in case of a covered loss.
- Replacement cost coverage on partial losses for newer boats, meaning depreciation will not be factored into your settlement.
Personal effects coverage For all the "extras" you physically bring on-board, like a cell phone or camera.
Emergency towing and assistance If you happen to break down, we can provide coverage for the expenses you incur to tow your boat to the boat repair shop.
Windstorm extra expense If there is a named storm, watch or warning, we will share the expense with you to help protect your high performance boat before the storm makes landfall.
Medical payments Helps pay for injuries suffered by you or any passengers during a boating accident.
Boat liability Protects you in case you are responsible for injuries to another person, or damage to their boat or their property.
Uninsured boater Unfortunately, not all boaters on the water have insurance. This coverage helps protect you and your family members if you are injured in an accident caused by an uninsured boater. Coverage is automatically included if watercraft liability is purchased.
Pollution liability Pollution coverage helps protects you if you are held legally liable due to an oil pollution leak or spill.
- Boat trailer coverage
- Boat lift and boat house coverage
- Trip coverage
Frequently asked questions about high performance boat insurance
General questions.
How fast is too fast to have my boat insured by Markel? Our high performance program is designed to provide coverage for newer boats over 26’ in length, capable of speeds up to 120 m.p.h.
I live where it gets cold in the winter. Do I have to call and change my lay-up dates? No, we rate typical usage based on where you live. We do not have lay-up dates, so if you have an unseasonably warm day late in the year, you are covered.
Where do I take my boat if it gets damaged? We don’t have any restrictions on where you take your boat to get a covered loss repaired.
If I have a guest on my boat that is injured, what happens? In the unfortunate event that one of your guests is injured on your high performance boat, the damages for bodily injury for which the boat owner (i.e., the insured) becomes legally liable can be covered under your policy.
If my boat is a total loss, how do I know that I will be adequately protected? We offer two different types of settlement options in the event of a covered loss:
- Agreed value for total loss – both parties (you and Markel) agree on the value of your boat. In the event of a total loss, the agreed value of your boat stated in your policy is the amount that is paid out to you if you have a covered loss.
- Actual Cash Value (ACV) looks at the current market value of the boat, along with the age and overall condition of the boat at the time of a covered loss, then pays out the market value of the boat.
On most total losses, your deductible is typically waived.
We also offer protection and recover coverage, which in the event of total loss of your boat, can help cover the reasonable costs incurred when you are trying to protect your boat from further loss.
How do I make a change to my policy? Contact the agent listed on your policy’s declarations page if you need to make a change to your Markel Marine insurance policy.
Can I pay my bill online? Absolutely! Visit our "My Account" page, where you can make a payment with a credit card, debit card or checking account. You can also decide if you want to make a one-time payment or set up automatic recurring payments so you never miss a payment.
Claims questions
How do I file a claim? We understand that no one wants to file a claim and do everything we can to make the process as painless as possible. You can report your high performance boat insurance claim by calling our office at +1.800.236.2453 or submit your claim online and we'll take it from there.
How long will it take for my claim to be processed? We are committed to investigating, evaluating and resolving marine insurance claims in a timely manner.
Is there anything I can do to help speed up the claim process? Yes, you can help streamline the claims and settlement process and avoid delays by providing the following information when you file your claim:
- Policy number
- Date, time and location of loss or damage
- Description of loss or damage
- Digital photos (if possible)
- Phone number to reach you
Additional resources
Related articles.
From boat safety tips to breaking down high performance boat insurance, find the information, advice, and resources you’ll need all in one place.
Supporter of Tres Martin’s Performance Boat School
As a world champion boat racer, Tres can elevate your skill level, and show you a new understanding and new techniques that are imperative to safe operation.
Related products
Specialized coverage designed specifically for boats 26 feet or less, such as pontoons, runabouts, fishing boats and more.
Personal watercraft
Insurance for personal watercrafts (PWCs) such as a Jet Ski, Sea-Doo or WaveRunner.
For watercrafts greater than 26 feet in length, such as a yacht, sailboat, sport fishing boat, trawler or houseboat.
- Testimonials
HH Insurance Blog
10 key things you need to know about powerboat insurance.
Americans love boating. In 2018, more than 280,000 new powerboats were sold in the U.S. However, what many people don’t like is the tedious process of buying powerboat insurance.
If you’re like most people, you were excited about choosing the size of your boat, the bottom paint color, and even other intricate nautical details of the vessel. However, you’re not as enthusiastic about getting insurance.
Getting coverage for your boat is the only way to secure your investment from marine risks. Therefore, before you set sail, here are 10 things you need to know about powerboat insurance.
1. Most Homeowners’ Insurance Policies Don’t Cover Boats
There’s a chance that your boat isn’t covered by your homeowners’ insurance policy . Even your flood insurance policy won’t cover damage to your boat after floods.
Thus, you should check your policy to determine whether or not your boat is covered. Most homeowners policies that cover powerboats have limitations. For example, they may not provide liability coverage.
Consider getting a separate, comprehensive policy for your powerboat. This will cover damages to the boat while in storage or the waters.
2. There Are Two Types of Powerboat Insurance
You have two options of powerboat insurance to choose from: agreed value and actual cash value. They are mostly the same. The difference lies in how depreciation is determined.
In the agreed value policy, the boat is covered based on its value when the insurance policy was written. The insurer doesn’t consider depreciation when handling a total or partial loss claim. Therefore, you will be compensated for the full value of the powerboat.
Actual cash value factors depreciation. Thus, in a total or partial loss claim, you’ll be compensated an amount that’s less the depreciation of the powerboat.
Actual cash value is the cheaper policy. However, the payout during a claim is less than what you get with an agreed value policy.
3. Boat Insurance Covers Numerous Disasters
You may be wondering whether or not buying powerboat insurance is worth it. The answer is yes.
The policy covers a wide range of disasters, such as fire, sinking, collision, capsizing, theft, and storms. Any risk that causes damage to your boat is insured.
Therefore, boat insurance can secure your investment and save you from incurring losses after property damage.
4. Insurance Covers Everything on Your Boat
Boating accidents are common in the U.S. There were 4,291 boating accidents in 2017 alone. To protect you from losses and lawsuits, insurance companies cover everything and everyone on your boat.
Your policy covers any property damage, including that of third parties. It also protects you from third-party lawsuits.
If someone gets injured while on your boat, your policy will cover their medical expenses and any personal injury damages resulting from the accident.
5. You Can Purchase Additional Insurance
Most plans cover the basic things we mentioned earlier. However, you can purchase additional coverage to further secure your investment.
Consider adding the following forms of coverage to your boat insurance policy:
- Specialized coverage for expensive items like navigation equipment
- Consequential damage for wear and tear losses
- Towing cover
- Ice and freezing coverage
Getting additional coverage can save you from paying out of pocket for expenses and losses that are not covered by your insurer.
6. You’re Not Covered Everywhere
Getting powerboat insurance in Tampa Bay doesn’t mean that it works everywhere. Well, it will be valid in the U.S, but not in Mexico or the Bahamas.
Before using your boat in waters outside the state or country, talk to your insurer about the extent of coverage you have. If you’re not covered, you can purchase a cruising extension cover. This protects you while using the boat outside the country.
7. Maintenance and Leaks May Not Be Covered
Most insurance companies don’t include essential maintenance and leak repairs in their policy. Any repairs necessary to keep the boat in excellent condition are solely your responsibility.
Beware that you’ll need some cash for basic maintenance. Consider getting professional boat maintenance services regularly. They will prevent costly uninsured repairs and save your money.
8. Premiums Depend on Individual Factors
When buying auto insurance , your insurer uses individual factors to determine the premiums you’ll pay. This is the case with boat insurance as well.
Factors like your credit rating, driving and boating experience, age, and claim history will be used to determine the cost of insurance. If you’re considered a high-risk client, you’ll pay higher rates.
Before buying powerboat insurance, work on your credit rating. You can pay off some short-term debts to improve the score and increase the chances of getting lower premiums.
9. You Can Lower the Cost of Insurance
Your insurance policy doesn’t have to be expensive. You can lower the cost and pay less in premiums every year. Below are some proven techniques:
- Increase your deductible
- Buy from your auto and homeowners’ insurance provider and get a discount for bundling your policies
- Complete a state-approved boating safety program
- Add safety equipment such as monitoring devices and fire extinguishers to your boat
If there’s anything you can do to lower your risk of making a claim, do it. It will play to your advantage when it comes to calculating premiums.
10. You Can Pause Your Policy in Winter
Boating is only practical during the summer and other warmer months of the year. The boat will be tucked away in your garage or a storage facility for the rest of the time.
During fall and winter, the risk of boating accidents or damage is negligible as the boats are usually in storage. Thus, you can reduce insurance costs by pausing your policy.
Talk to your insurer and find out whether this is possible. However, you cannot use your boat during the pause period. If you do, you’ll be on your own, and the policy won’t cover any property damage or liability claims.
Get Insurance for Your Powerboat Today
Buying powerboat insurance is one of the least favorite things to do for most people. However, the cover will protect your property and pay for damages incurred when there is an accident.
Contact us today for a free powerboat insurance quote!
**This blog provides a brief overview of the terms and phrases used within the insurance industry. These definitions are not applicable in all states or for all insurance and financial products. This is not an insurance contract. Other terms, conditions and exclusions apply. Please read your official policy for full details about coverage. These definitions do not alter or modify the terms of any insurance contract.
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Boat Insurance FAQ
BoatUS has been providing an insurance program since 1966, over 55 years of service to boaters nationwide.
GEICO offers coverage in all 50 states to boat owners with a US address.
The cost of boat insurance can vary by underwriting company, but in general, it’s based on the type of boat, length, number of engines and horsepower, how you are going to use it (recreation, commercial charter, racing, etc.), and how/where it is stored. All of these factors, including the experience and claims record of the owner will factor into the cost. Completing boating safety courses and insuring multiple boats with the same company could also positively impact your premium.
Start your boat quote today .
The program offers liability limits of $100,000, $300,000, $500,000 and in some cases $1,000,000. If you have an umbrella or other excess liability policy, you should make sure the Liability limit selected meets your needs. You may also have a minimum liability limit for a slip rental or storage agreement.
The BoatUS 24-Hour Dispatch Hotline will give you immediate assistance in making the necessary arrangements to protect your property, such as dispatching salvage operators or sending out pollution control professionals. When there has been significant damage or injury, inspectors will be assigned. In catastrophe situations (hurricanes, major flood, etc.) the BoatUS "CAT" Team is flown into the area to expedite salvage and claims processing.
Policyholders have the option to add TowBoatUS Towing for the insured boat by endorsement with services provided by the nation's largest fleet. NOTE: If you have more than one boat, consider purchasing Unlimited Towing through Membership in BoatUS — the Association for service on all boats owned, borrowed or chartered. When you purchase insurance for your trailer, Roadside Assistance is included for breakdowns when trailering your boat.
When you purchase insurance for your trailer, Roadside Assistance is included for breakdowns when trailering your boat.
You will need a cruising extension when taking your boat to Mexican waters. However, this extension will only cover the physical damage to your boat. Also, all boats are required under Mexican Law to have liability insurance issued through a Mexican Insurance Company. Without it, you could face serious consequences including fines, impoundment and/or imprisonment. We work with a bona-fide Mexican insurer who can provide this liability coverage for both your boat and car online. See our Policy Pages for details .
Fast, fair, and with a focus on making sure you and your boat are handled with care. Policyholders can start the claims process quickly online using My Account at BoatUS.Geico.com/Account or through the BoatUS App . Policyholders may also call 800-937-1937 to speak one-on-one with experienced claims specialist 24-hours a day, 7 days a week. Depending on the nature of the claim, the specialist will provide specific instructions about what steps to take from that point forward.
Quotes, Cost, and Discounts
There are many factors that go into determining the premium for your boat – the amount of coverage you want, your boat's location, use, size, age, power type along with your ownership and operating experience. For a free quote, visit our online application or call 800-283-2883 to speak with an underwriter.
While the amount you pay for insurance has to be a factor in the selection of your protection package, it is more important to consider the types of losses covered, how much you will collect in the event of a loss, what assistance is available in an emergency, and what level of service you will receive. The boat owner should select a carrier, agent, and policy that meets their specific needs. In most cases, this means not selecting a policy based on the price, but on what you get in return. Even large differences in premium will be made up quickly if you select an inadequate policy, an uninformed agent, or an indifferent carrier.
First and foremost, choose a policy that best fits your boating needs. Some factors that can influence your premium:
- Boating safety education : You’ll receive an insurance discount if you complete a safety course that's been approved by the National Association of State Boating Law Administrators (NASBLA) or complete the BoatUS Safety Course online.
- Liability limits : the higher the limit, the higher the cost.
- The size of your deductible : The higher your deductible, the lower your premium.
- Keeping your boat safe and secure : Maintain your boat in a particularly secure location — secure from extraordinary weather patterns such as hurricanes, tornados, floods, etc. and/or secure from theft or vandalism. Catastrophic loss from weather or thieves is a significant cost factor in boat insurance.
Yes! If you need a quote immediately call us at 800-283-2883 from 8:00am – 10:00pm, Monday – Friday EST, Saturday – Sunday 8:00am – 9:15pm EST, or visit our online application 24/7 . In most cases, we will provide you with a firm, actionable quote — not a ballpark figure like some other insurance companies.
If you applied online, you will receive coverage options immediately or in some specific scenarios, by email. Simply click on the "BUY” icon and follow the instructions. You may also call our office at 800-283-2883 to start coverage. Premium payment or down payment can be made by credit card or check at the time of purchase.
No, you don't need to be a Member of BoatUS to get a quote. However, should you decide to bind coverage, we encourage you to join BoatUS for the discounts and savings on fuel, slips and boating equipment, and to receive our award-winning BoatUS Magazine . Also, to purchase Unlimited Towing for any boat you own, borrow or charter (separate from the single-boat endorsement offered with your policy) Membership is required. This can be arranged at the same time you initiate your insurance coverage and can be included in your premium.
Yes. The extended payment plan requires a down payment of 30%. The balance is billed in either three (3) or seven (7) equal monthly installments, depending on the premium. Each installment includes a $5.00 handling charge.
View All Payment Options .
While we cannot recommend an individual marine surveyor, please take a moment to check out this resource that can help to determine the best type of survey and surveyor for your needs.
GEICO wants to be your first choice for boat insurance. However, there are some types of vessels that are not eligible for a GEICO policy which are listed below. Other criteria may apply and will be reviewed by underwriters at the time of an application for boat insurance:
- Boats over 50 feet in length
- Houseboats that do not have motors
- Floating homes
- Homemade boats
- Boat with more than 4 owners
- Amphibious land boats or hovercraft
- Watercraft previously deemed a constructive total loss
- Boats valued over $2,500,000
Mechanical Breakdown Coverage
Mechanical Breakdown Coverage is an optional coverage that pays to repair or replace the lower unit of an outboard motor, or the upper and lower units of a stern drive motor in the event of a mechanical breakdown. It does not cover any of the internal components of the engine itself.
Mechanical Breakdown Coverage is offered to boats equal to 10 years old or less, with an outboard or sterndrive motor.
Pricing is based on the age of the boat at the time the coverage is purchased. It increases over time as the boat ages and the risk of mechanical breakdown increases.
This endorsement must be in effect for 30 days before a mechanical breakdown loss will be covered. Any loss that occurs less than 30 days from the date the coverage starts, or any pre-existing condition, would not be covered.
Yes, the Mechanical Breakdown Coverage is only $250 per outboard or outdrive unit. If both outdrives or outboard lower units fail due to a mechanical breakdown, then the deductible is $250 for each unit.
Yes, this endorsement does provide coverage for wear and tear and mechanical breakdown for the parts specifically listed (see Mechanical Breakdown Coverage ). It does not cover gradual diminishing performance of the unit. The loss must be sudden.
Wear and tear - deterioration that results from ordinary use over the course of time and the part suddenly ceases to function. For example, the teeth wear off of the prop shaft on an outboard motor and the propeller no longer turns. This is covered by Mechanical Breakdown Coverage.
Diminishing performance - a decline in the level of output of a certain part resulting in ineffective operation of the part. For example: If your propeller has an intermittent hesitation due to the prop shaft teeth starting to wear and causes vibrations affecting the efficiency and smoothness of the ride. The cost to have the prop shaft replaced at this time would not be covered under this endorsement. The propeller must fail to turn completely for the Mechanical Breakdown Coverage to take effect.
Any repair facility of your choice can perform repairs.
Yes, if a claim is paid you will forfeit your 10% no loss credit until you remain claims free for one policy period. This also applies to the diminishing deductible. If a claim is paid then the deductible will return to the deductible listed on the Declarations page of your first policy period with us, without regard to any diminishment.
No. Mechanical Breakdown Coverage is only available as an endorsement for the Agreed Hull Value (AHV) policy. Interested in adding the Mechanical Breakdown endorsement to your AHV policy? Call 800-283-2883.
All manufacturer's required maintenance must be made on the outdrive or outboard lower unit or this coverage doesn't apply.
Please note:
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 in all states. Coverage is subject to the terms, limits and conditions of your policy contract.
For a quote, visit our Online Application or call 800-283-2883 for personal service.
All coverage is subject to terms, conditions, limits and exclusions of the policy. Not all policy options are available in all states. Boat and PWC policies are underwritten by GEICO Marine Insurance Company with administrative offices at 5323 Port Royal Road, Springfield, VA 22151. GEICO Marine Insurance Company is domiciled in Omaha, NE, and coverage is offered in all 50 states and the District of Columbia to boat owners with a U.S. address. View the GEICO Marine Insurance Company Privacy Policy & Notice of Collection .
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Kostroma is the big capital city of Kostroma Oblast, and a stop on Russia's Golden Ring circuit. It is a historic city, founded in the 12th century, and served as a sort of northern retreat for the powerful in Muscovy when threatened by southern and western invaders. Kostroma's wealth of art and architecture is owed to the legacy of such retreats.
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