Boat Insurance

When you have devoted time and effort to find the right watercraft or boat, make sure your investment is protected by the right insurance coverage. The size, type and value of the craft and the water in which you use it factor into how much you will pay for boat insurance. 

Insurance coverage typically includes the hull, machinery, fittings, furnishings and permanently attached equipment as part of either an actual cash value policy or on an agreed amount value basis. 

  • Actual Cash Value policies pay for replacement costs less depreciation at the time of the loss. In the event of a total loss, used boat pricing guides and other resources are used to determine the vessel’s approximate market value.
  • Agreed Amount Value basis policies mean that you and your insurer have agreed on the value of your vessel and in the event of a total loss you will be paid that amount. Agreed Amount Value policies also replace old items for new in the event of a partial loss, without any deduction for depreciation.

Physical damage exclusions apply.

Boat insurance can also cover:

  • Theft   
  • Bodily injury caused to another person
  • Property damage caused to someone else’s property
  • Guest passenger liability for any legal expenses incurred by someone using the boat with the owner’s permission
  • Medical payments for injuries to the boat owner and other passengers

We specialize in: 

  • All Risks coverage for the hull and machinery, rigging, tender, outboards, and personal effects
  • Liability coverage for bodily injury or property damage to third parties
  • Volunteer medical payment coverage
  • Flexibility for special coverage such as skippered chartering
  • Sailboat racing

Contact a HUB personal insurance broker today.

Learn more about boat insurance and safety:

Avoid a Boatload of Trouble with Boat Insurance

The Case for Boat Insurance