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Boat insurance policies for carefree days on the water as low as $100 per year.*
Get a fast, free online quote today and save up to 35% in discounts.
Or call +1.800.236.2453 to speak with a boat insurance specialist.
Offering coverage to you and your boat for over 45 years.
We understand every boat requires a different kind of insurance coverage, which is why we tailor your boat insurance policy to fit your individual needs. We consider the kind of boat you own and your favorite activities to customize your policy. No matter the boat you own—from antique to pleasure boat, pontoon and more—we aim to have the right insurance coverage for you.
Why do you need boat insurance?
Whether you use your boat twice or 30 times a year, it only takes one incident to realize why you need boat insurance. It’s important to protect your boat at all times—no matter how little you use it.
If your boat is insured under your homeowners policy, there’s a good chance your boat and gear may not be properly protected. When you insure your boat with us, you can get extras that other insurance carriers may not even offer, such as water-sport liability, medical payments coverage and diminishing deductibles.
Still not sure?
See how an average homeowner's insurance policy stacks up against Markel boat insurance:**
| Policy coverage | Average homeowners policy | Markel boat policy |
|---|---|---|
| Watercraft liability | Yes | Yes |
| Medical payments | Yes | Yes |
| Agreed value watercraft and equipment | No | Yes |
| Emergency towing | No | Yes |
| Personal effects coverage | No | Yes |
| Uninsured/underinsured boater | Not likely | Yes |
| Pollution liability | No | Yes |
| Replacement cost settlement | Not likely | Yes† |
| Boat lift coverage | No | Yes† |
| Trailer coverage | No | Yes† |
| Fishing equipment coverage | No | Yes† |
| Professional angler liability | No | Yes† |
| Tournament fee reimbursement | No | Yes‡ |
| Crash damage | Yes | Yes |
| Theft coverage | Yes | Yes |
| Theft away from home | Yes | Yes |
| Wreck removal | No | Yes |
Provided for illustrative purposes only. **Terms and conditions may vary. †Coverage is optional. ‡Included with bass/walleye boats.
Save up to 35% with our boat insurance discounts.
We’re always looking for ways to save you money, so we help you minimize the cost of boat insurance by offering a variety of recreational boat insurance discounts, saving you up to 35%.
Loss free boating? Say goodbye, deductible.
With our diminishing deductible program, your deductible will decrease by 25% for each consecutive year that you're not involved in an accident. After being accident-free for four years, your deductible will be zero.
Experienced boater discount
If you have five or more years of boating experience, we will compensate you by discounting your premium.
Other boat insurance discounts:
• Multiple units under the same policy
• Outboard propulsion
• Primary operator age 40 and over
• Diesel engine
What we offer
We offer coverage for a variety of watercrafts up to 26 feet in length, including:
- Antique boat
- Power boat
- Ski boat
- Sailboat
- Fishing boat
- Pontoon
- Pleasure boat
- And much more
Our coverages can include:
Watercraft physical damage insurance protection
Watercraft hull and equipment coverage helps cover repairs or replacement of your boat if it is damaged or stolen. We offer a range of deductibles and give you options to increase the deductible on your policy for a premium credit.
Agreed value watercraft and equipment
When you purchase physical damage insurance protection with an agreed value settlement option from Markel, you and Markel agree on the value of your boat. This agreed value is the amount that would be paid out if the boat is deemed a total loss.
Replacement cost coverage
Available on watercraft up to three years of age. We will help pay for a new boat of the same make, class, size and type in the event of a total loss of the insured watercraft, including theft.
Personal effects
Insurance protection for your personal items on board, such as cell phones, MP3 players, cameras, water skis and personal flotation devices.
Consequential damage
Even with the best maintenance plan, it is possible to miss something that could potentially cause a major loss. Most policies typically will not cover normal wear and tear and deterioration, or the resulting damage. When you choose coverage with us, damage to your boat from a fire, explosion, sinking, collision or stranding due to wear and tear can be covered.
Ice and freezing damage
If you paid for professional winterization services but find that they weren’t done properly and your engine block froze and cracked, we can provide coverage for the damage if you contracted with a commercial marina or repair facility.
Ultimate drive coverage
Optional coverage to repair or replace an outboard or sterndrive in the event of a mechanical breakdown due to wear and tear or defect.
Watercraft liability
We provide coverage for bodily injury or property damage for which you are legally liable through ownership, maintenance or use of your boat. This includes watersport activities for most hull types. Watercraft liability will not cover your boat or your injuries. It is there to help protect you and your assets from the costs associated with damages and injuries caused to others.
Pollution liability
Pollution coverage helps protects you if you are held legally liable due to an oil pollution leak or spill.
Medical payments
Helps to cover necessary medical treatment resulting from an accident-causing bodily injury to any person while in, upon boarding or leaving your insured boat.
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.
Emergency towing and assistance
Each policy includes boat towing coverage that can cover the reasonable cost you may incur (up to the limit purchased), should you require on-water commercial towing assistance:
- Towing to the nearest facility where necessary repairs can be made.
- Delivery of gas, oil, parts or a loaned battery (excluding the cost of items themselves) or emergency labor while away from safe harbor.
Boat lift coverage
Damage to your boat lift may not be covered under your homeowner's policy.
Fishing equipment coverage
Losing your fishing equipment can be devastating to your favorite pastime and your wallet. That's why we offer optional fishing equipment coverage, which can be added to any Markel boat insurance policy. This coverage can provide replacement cost coverage for your fishing gear, including:
- Rods and reels
- Lures, rigs and line
- Tackle boxes
- Depth finders
- Trolling motors
Tournament fee reimbursement
Miss a tournament? We’ve got you covered. We know how disappointing it can be to miss out on a fishing tournament, especially when you've already paid the entry fee. Our tournament fee reimbursement, included with our fishing boat insurance coverage, refunds your entry fee if you are not able to participate in a scheduled tournament due to a covered event, such as:
- Bodily injury to you or a family member
- Loss or damage to your fishing boat
- Mechanical breakdown of your towing vehicle while en route to the tournament
Get paid to fish?
In addition to our fishing boat coverage, we offer another layer of liability protection for those fortunate enough to make fishing their career. Contact us for more information on coverage for paid guides, charter boats and more.
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Frequently asked questions about boat insurance
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General questions
How much coverage do I need?
Each boat, person, location and situation is different. There isn't a good way to give a "ballpark" figure for how much coverage you need. It’s best to evaluate your comfortable level of risk when protecting your boat, assets and passengers. Your best option is to call our boat insurance specialists at +1.800.236.2453 to discuss the best coverage for you.I have two boats. Can they be on the same policy?
Yes, multiple units can be added to your boat insurance policy provided both boats are in the same state. If your boats are in two different states, two policies may be required. Please give a boat insurance specialist a call at +1.800.236.2453 to learn more.Does Markel offer any boat insurance discounts?
Yes, we are always looking for ways to save you money. We offer a variety of boat insurance discounts, saving you up to 35%.- Experience boater discount (for boaters with over five years of experience)
- Multiple units discount for all units on the same policy
- Outboard propulsion discount
- Older operator discount (for those 40 or over)
- Diesel engine discount
We also offer a diminishing deductible program. For each consecutive accident-free year, your deductible will decrease by 25%, all the way to zero after four years for a savings of more than $1,000.
My boat is older. Do you insure older boats?
All ages of boats fall into our boat insurance program. If you are still unsure if your boat will qualify for our boat insurance coverage, give one of our boat insurance specialists a call at +1.800.236.2453 to discuss the best coverage for you and your boat.Does Markel boat insurance cover normal wear and tear of my boat?
Most insurance policies will not cover normal wear and tear and deterioration or the resulting damage. However, if your boat is damaged from fire, explosion, sinking, collision or stranding, you may be protected under our consequential damage coverage.Also, if you purchase our optional ultimate drive coverage, it will provide coverage for your boat in the event of a mechanical breakdown due to wear and tear or defect of the outboard or sterndrive.
My boat is in a corporation’s name. Can I still insure it with you?
Absolutely! Our boat insurance policy will cover corporately titled boats, for both personal use and client entertainment.Is my boat trailer covered?
Up to $7,500 worth of coverage can be purchased, providing coverage for your boat trailer.Does Markel offer watersport liability?
Watersport liability is automatically included with our watercraft liability on most boat types that can participate in watersport activities (i.e., coverage is not included for certain types like airboats, hovercrafts, homemade/kit boats, inflatable boats or high performance cat and vee boats). Our watersport liability coverage provides insurance protection to those individuals participating in most watersport activities on the insured boat.My engine block froze and cracked, is that covered?
Most insurance carriers will not cover damage caused by ice and/or freezing. Luckily for you, we offer an ice and freezing protection you can add to your policy to help protect you. If you contracted with a commercial marine or repair facility for necessary winterization maintenance and your boat sustains damage from the chilly winter conditions while being “winterized,” the damages to your boat may be covered.Does it cost more if my kids waterski?
No, we know that’s one of the main reasons people buy boats, so we're certainly not going to charge you extra for it.Do you cover unique boats?
We offer coverage for various kinds of unique boats that other insurers may shy away from, including high performance boats, airboats, hovercraft, etc. Not sure if your watercraft will be covered? Give us a call at +1.800.236.2453 to speak with one of our boat insurance specialists.What kind of fishing equipment is covered?
Your rods, reels and tackle are automatically covered under your personal effects coverage up to the limit purchased. If that coverage isn't sufficient, our fishing equipment coverage provides insurance protection at replacement cost.How long has Markel been insuring boats?
We’ve been boat insurance specialists for over 45 years and understand the lure of the water because we’re boaters like you. We know a thing or two about boats and, of course, boat insurance.Do I need to insure my boat in the winter?
It may seem that since you don't use your boat in the winter you don't need to insure it. This is a risky way of looking at insurance, and one that we have seen cost far too many people far too much money. Your boat is at risk for damages at all times of the year, not only when it's on the water. For example, if your boat is placed in storage for the winter and it is damaged, you will not have any assistance paying for those repairs without an active insurance policy. -
Claims questions
How do I file a claim?
We make filing a claim as easy and quick as possible. You can report your boat insurance claim by calling our office at +1.800.236.2453 or submit your claim online.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
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Boat insurance policies for carefree days on the water as low as $100 per year.*
Get a fast, free online quote today and save up to 35% in discounts.
Or call +1.800.236.2453 to speak with a boat insurance specialist.
Additional resources
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Bicycle
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*As of December 2023, the minimum annual premium is $100 and rates could exceed $100 depending on the coverage options selected and value of the boat to be insured.