Finding the best boat insurance for your needs can be difficult. Whether you’re looking for the cheapest premiums, the best customer service or just great basic coverage, NerdWallet has you covered.
Insurance is important for boating enthusiasts who own a vessel of any shape or size. The vast majority of personal recreational watercraft are docked in a marina away from the home, rendering personal surveillance impractical. Just as you would insure a car, a boating policy is a must for any would-be owners and sailors. However, the added benefit of a boating policy is the peace of mind provided by the vandalism and malicious mischief coverage.
Fully customizable policies may be tailored to an individual’s specific marine situation, with optional add-ons to cover fishing equipment, personal property, towing (both on and off-water), and any damage to you or your property caused by an uninsured boater. Basic policies cover any accidental damage that may occur as a result of a collision, sinking or vandalism. Most policies will cover physical damage to the hull, the sails of a sailboat and any onboard furnishings and equipment, and extensive damage to a boat trailer.
State Farm: Best rated
State Farm boat insurance covers your standard array of boating mishaps, such as sinking and damage from storms. Property covered under your policy also includes anchors, oars, trolling motors, tools, life preservers and many other things. Customers with the company have reported some trouble with sudden changes in price, but its coverage is fast and reliable.
Geico: Best basic boat coverage
Geico boat insurance has several good aspects prospective buyers should consider. It is among the cheapest rates you will find for complete coverage of your boat. You can also get discounts for completing boating safety courses as well as having a clean driving history. Customers reviews have stated a very quick claims processing period and agents who know what they are talking about.
Allstate: Best for customer satisfaction
Allstate provides protection for your boat with several great advantages. Its rates are among the lowest out there, starting at only $20 a month. Allstate also provides coverage for up to 100 miles off of the coast you are operating in. Many customer reviews have made clear a strong sense of loyalty to the company for the excellent coverage it provides. There are also reports the company is very forgiving with claims and will not jack up prices without warning.
AARP | The Hartford: Best for customers over 50
AARP Hartford offers great protection for your watercraft. It offers many discounts and a lifetime renewability policy for customers. You can also get liability coverage involving water sports in the unfortunate case of an accident. Reviews have indicated some customers having trouble getting their claims processed but overall AARP Hartford is ranked favorably. AARP Hartford boat insurance isn’t the cheapest but it does include a range a coverage options.
Progressive: Best coverage variety
Boat insurance from Progressive has several good options for people looking to insure their watercraft. It’s among the cheaper choices available, while still offering comprehensive coverage against other uninsured boaters and providing medical payments for injuries on the water. Customers have reported that Progressive remains professional and knowledgeable when customer service is contacted, and many claim to have saved money when switching from other companies.
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