Find the best boat insurance for your vessel. Compare top providers on hull coverage, liability, and price to protect your watercraft.
Get Boat Quote →Boat insurance covers physical damage to your vessel (hull coverage), liability if you injure someone or damage another boat, medical payments for injuries on your boat, and theft. Most homeowners policies only cover small boats under 25 HP or under 25 feet — anything larger needs a dedicated boat policy.
Most states don't legally require boat insurance, but marinas frequently mandate it, and lenders almost always require it if you're financing the boat. Given typical premiums run just $200-$500 a year for standard recreational boats, the protection is inexpensive relative to the risk of an uninsured accident or total loss.
| Company | Coverage | Avg Annual | Best For |
|---|---|---|---|
| Progressive | All watercraft | $300–$800 | Best overall, widest coverage |
| BoatUS (Geico) | Recreational boats | $250–$700 | Best for recreational boaters |
| Markel | All watercraft | $350–$900 | Best for high-value boats |
| West Bend | Freshwater boats | $200–$600 | Best for inland lake boaters |
| National Boat Owners Assoc. | All boats | $280–$750 | Best for membership benefits |
| Boat Type | Value Range | Avg Annual Premium |
|---|---|---|
| Fishing boat (basic) | $5K–$20K | $150–$400 |
| Pontoon boat | $15K–$50K | $300–$600 |
| Ski/wakeboard boat | $20K–$60K | $400–$800 |
| Sailboat | $10K–$100K+ | $300–$1,500 |
| Yacht (over 30 ft) | $50K–$500K+ | $1,500–$5,000+ |
This distinction matters significantly when choosing a policy. Agreed value coverage pays the full agreed-upon amount in a total loss regardless of depreciation — better suited to newer or higher-value boats. Actual cash value (ACV) factors in depreciation, which can leave older boat owners with a payout well below what's needed to replace the vessel. If you plan to keep your boat long-term or it's relatively new, agreed value coverage is generally worth the modest additional cost.
Everything you need to make a confident decision
Find the best boat insurance for your vessel. Compare top providers on hull coverage, liability, and price to protect your watercraft.
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