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The Best Boat Insurance - How to Get Discount Boat Insurance

Updated on November 5, 2010

Find the best boat insurance

Boat insurance is a must of you own just about any type of boat. This includes everything from the smallest bass boat to the largest yacht. Depending on the policy you choose, this type of insurance can cover all kinds of problems and losses. These might include theft, vandalism, collisions on the water, or damages your boat received while being towed on a trailer.

If your boat is on or near coastal water, the possibility of hurricanes and tropical storms is all too real. Even when you take precautions to protect your boat, it can become damaged or even completely destroyed by powerful winds, water surges, or projectiles.

Fire is another possibility on a boat. Even a small fire that’s relatively contained can cause a lot of damage, from heat, flame, and smoke. Being prepared by having fire extinguishers onboard is a must, but even they can’t reverse the damage and injury already inflicted before the fire is put out.

Another very plausible event is capsizing. Boats might capsize for a number of reasons, and when they do, severe damage can be the result. Boat insurance can pay for repairs.

In the event of a capsize, or because of other reasons, your boat could completely sink. This, obviously, would result in a total loss. Do you have the extra cash on hand to replace it? The best boat insurance companies will replace your boat. With the best boat insurance companies, if your boat is less than one year old, it will be replaced with a brand new boat of comparable value. Older boats are rated, and you’ll receive the amount of their worth.

Not only is you boat covered. With the best boat insurance companies, all the gear that’s attached to the boat permanently is also protected. This includes oars, electric trolling engines, seat cushions, tools, dinghies, life preservers, water skis, ski ropes, anchors, and extra fuel tanks. If the boat has a detachable cover, like a Bimini top, that will covered, too.

Now let’s talk about liability insurance. Liability insurance for boats works much the same way as the liability insurance policies you have on your automobile and on your home. With this type of insurance, if someone is injured on your boat or because of your boat, the liability insurance will pay for medical expenses.

Liability insurance will also cover property damages incurred because of your boat. And if you boat is in a wreck on the water, the boat insurance company will pay to have the wreckage removed.

Best boat insurance

The very best boat insurance will cover just about anything you can think of, along with some things you probably never thought of. What if your boat breaks down on the water? Let’s say you’re miles from shore and the boat stops running because of any number of reasons. You and your family or guests will be stranded. This doesn’t have to be the case, however. With boat insurance that covers emergency towing, you and your boat will be rescued, and your insurance will cover the cost.

Shop online for the best boat insurance. All boat insurance companies are not created equal, and just because your friend’s plan is great for him, it doesn’t mean that it’s the best boat insurance for your unique situation. Decide exactly what types of coverage you want, including any deductibles, before shopping for boat insurance. And don’t decide on price alone – value is much more important!

Boat insurance rates – discount boat insurance

Is there a way to get discount boat insurance or even cheap boat insurance? The answer is yes – or, at least cheaper boat insurance. While no really good insurance is exactly cheap, there are certainly ways to get discount boat insurance.

Some boat insurance companies offer several ways to save money on insuring your vessel. If, for example, your boat is in storage during the winter months, some insurance companies will give you a discount. If you pass a boating safety course, most companies will give you a discount. If your boat is used only in freshwater, there’s another discount on boat insurance rates.

Also, the amount of your premiums is somewhat determined by your automobile driving record. Boat insurance companies figure if you’re a safe driver on the road, you’ll also be a safe driver on the water. On the other hand, if you have speeding tickets, DUIs, or reckless driving charges on your record, the insurance company will reason that you’re not a very safe driver, and your boat insurance rates will be higher.

Boat insurance companies vary in which discounts they’ll honor, so be sure to ask about these with an agent. If you find a boat insurance company that offers a lot of discounts, and if you qualify for all of them, you could save a sizeable chunk on your boat insurance rates and end up with real discount boat insurance.

Boat insurance companies

There are numerous reputable boat insurance companies. Some of these might be the same insurance companies you use to insure your automobile or your home. A few reputable boat insurance companies that you might already be familiar with are State Farm, Geico, Progressive, Nationwide, and Allstate.

Boat insurance quote

It’s easy to get a boat insurance quote. In fact, you can do it the easy way with a boat insurance online quote. Several boat insurance companies offer this free and easy service for potential clients.

To get a free boat insurance quote, simply go online to insurance companies’ home pages and fill out the information required. Once the information has been submitted, you’ll receive your boat insurance online quote. Some insurance companies will print your insurance quote right on the screen, while others will email your quote. A few boat insurance companies might call you to discuss your quote and your boat insurance needs.


Hurricane insurance is part of boat insurance.
Hurricane insurance is part of boat insurance.
Protect your vessel and yourself with boat insurance.
Protect your vessel and yourself with boat insurance.


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    • JustUKInsurance profile image

      JustUKInsurance 5 years ago from Gloucestershire

      Really informative and quality article.

      Finding the more niche insurances can be difficult, so it is great that more of us are promoting how to do it successfully.

      Cracking stuff!

    • habee profile image

      Holle Abee 7 years ago from Georgia

      Ictodd, thanks so much for reading!

    • habee profile image

      Holle Abee 7 years ago from Georgia

      Cvanthul, so nice of you to visit!

    • habee profile image

      Holle Abee 7 years ago from Georgia

      AP, I agree - living near the ocean would be worth the extra cost!

    • habee profile image

      Holle Abee 7 years ago from Georgia

      HH, you're a sweetie!

    • habee profile image

      Holle Abee 7 years ago from Georgia

      Nifty, those Pawn Stars dudes are pretty smart! Much, however, depends on the boat and by how well it's maintained.

    • habee profile image

      Holle Abee 7 years ago from Georgia

      Many thanks, Anglnwu! Boats are a lot of fun, BTW.

    • habee profile image

      Holle Abee 7 years ago from Georgia

      Drbj, we've owned several boats, and I want another one!

      Howdy, De Greek! Can I come for a short cruise??

    • lctodd1947 profile image

      lctodd1947 7 years ago from USA

      Habee, you are fantastic with your subjects. This is great information for many who live near the water. Thanks for sharing.

    • cvanthul profile image

      Cristina Vanthul 7 years ago from Florida

      Great advice, habee! There isn't enough written about boat insurance.

    • Alternative Prime profile image

      Alternative Prime 7 years ago from > California

      Great Hub,

      I find it ironic that the insurance companies tie the premiums of your boat coverage to your auto coverage. Very interesting fact I was never aware of...

      As mentioned, it's tough getting insurance in Florida for anything even your house due to the "Hurricane" factor...Wind,Rain,Flooding etc...It's all well worth it though...Florida has exceptional amenities...

      Great Hub & Great Info

    • Hello, hello, profile image

      Hello, hello, 7 years ago from London, UK

      Brilliant advice for people who own a boat. Very comprehensive written hub. Comgratulation for achieving 100. Well done and you deserved it.

    • nifty@50 profile image

      nifty@50 7 years ago

      On "Pawn Stars", the tv show, they claim "boat" stands for (break out another thousand), and I'm sure you've heard the saying a boat will make you glad twice, the day you buy it and the day you sell it! With all that said, I really do enjoy getting out on the lake with one! It's just too bad with insurance issues they are next to impossible to rent!

    • anglnwu profile image

      anglnwu 7 years ago

      I don't own a boat but you never know--reading articles like these can come in handy. Nicely done! BTW, nice pic of your daughter.

    • De Greek profile image

      De Greek 7 years ago from UK

      This one is right on the money for me Habee. When I retire to Greece, I plan to buy a boat and just sail around :-)

      drbj you must tell me more about that hole :-)

    • drbj profile image

      drbj and sherry 7 years ago from south Florida

      Great info, holle. My hubby and I once owned a boat but sold it when we realized it was a hole down which we threw money! :)

    • habee profile image

      Holle Abee 7 years ago from Georgia

      LOL, jtrader!

      Hi, Eth! That's my daughter.

    • ethel smith profile image

      Eileen Kersey 7 years ago from Kingston-Upon-Hull

      Will be useful to boaters. Wrong word I know. Like the new you in your avatar :)

    • jtrader profile image

      jtrader 7 years ago

      Should have known that the insurance companies would match your driving habits off the water to those on the water and charge accordingly.