Markel Specialty - the boat insurance specialists

Protecting you out on the water for over 35 years.

At Markel Specialty, we understand all boats are not equal and require different kinds of insurance coverage. That's why we tailor your boat insurance policy to fit your individual needs. We take into consideration what kind of boat you own and what activities you enjoy with it. For example, if you own a fishing boat, we offer optional fishing equipment coverage. Or, if you enjoy water-skiing, we provide watercraft liability insurance. So, whether you own an antique boat, power boat, ski boat, sail boat, fishing boat, pontoon, or pleasure boat, we have the right boat insurance coverage for you.

Why do I need boat insurance?

It only takes one incident to realize your need for boat insurance. It may feel like you don't need coverage if you only use your boat a few times a year, but in reality, each time you are on the water you are at risk of an accident. Since you can never tell when you may need 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 Markel Specialty, you can get extras that other insurance carriers (like your homeowners) may not even offer. And if they do, you might have to pay extra for them. Our boat insurance coverage can include such things as water-sport liability, medical payments coverage, and diminishing deductibles.

See how an average homeowners insurance policy stacks up against Markel Specialty 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

Don't wait until you file a claim to find out if you have the proper insurance protection for your boat. Get a free online quote today. Policies start as low as $100 per year.

*Terms and conditions may vary. **Coverage is optional. ***Included with bass/walleye boats.

What can boat insurance cover?

No matter what kind of boat you have, Markel Specialty offers an extensive listing of coverages for you, your passengers, and your boat. Our boat insurance product is available for watercraft that are 26 feet or less in length. Have a larger boat? Check out our yacht insurance program.

Coverage for your boat

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 Specialty, you and Markel Specialty agree on the value of your boat. This agreed value is the amount that would be paid out should the cost of repairs to fix your boat equal the value of your boat. For situations involving partial losses, there is no deduction for depreciation.

Replacement cost coverage
Available on watercraft up to three years of age. We will 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 will not cover normal wear and tear and deterioration, or the resulting damage. However, with Markel Specialty, if your boat is damaged from a fire, explosion, sinking, collision or stranding, you will be protected.

Ice and freezing damage
If you paid for 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.

Coverage for you

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 covers 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 liability coverage helps to cover the reasonable cost and expenses for which you are legally liable. This includes damage to property or cleanup resulting from unintentional spillage of a contaminant.

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
Uninsured boater insurance covers damages you or a family member are legally entitled to receive from an uninsured owner or operator of a watercraft (other than your watercraft), if bodily injury results from an accident while aboard an insured boat. Since this coverage is included at no additional charge to you, their oversight won't become your problem.

Additional optional coverages for an extra layer of insurance protection

Boat towing coverage
Each policy includes boat towing coverage that will cover the reasonable cost you may incur (up to the limit purchased), should you require 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. As marine specialists, we believe this coverage is needed and offer boat lift coverage to protect damage to your boat lift.

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 Specialty boat insurance policy. This coverage provides 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.

Discounts
DISCOUNTS
Get the coverage you deserve at a rate you’ll love with our numerous money-saving discounts and diminishing deductible.
Documents
RESOURCES
From boat safety tips to breaking down boat insurance, find the information, advice, and resources you’ll need all in one place.
FAQ
FAQs
Boat insurance doesn’t need to be complicated. Explore our most commonly asked questions about boat insurance and get the answers you’re looking for.

Policies as low as $100 per year.

Get a fast, free online quote today and get the protection and peace of mind you deserve. Plus, save up to 35% with our discounts.

Or call 800-236-2453 to speak with a boat insurance specialist.

This content is provided for informational purposes only. Terms, conditions, and exclusions apply. Coverage is underwritten by one or more insurance companies of Markel and policyholder services are provided by the underwriting manager, Markel Service, Incorporated, national producer license # 27585, in California d/b/a Markel Insurance Services, license # 0645481. Certain products and services are provided through various non-admitted insurance companies of Markel and are offered through licensed surplus lines brokers or through Markel West Insurance Services, California license # 2E11302. Terms and conditions for rate and coverage may vary by state and application. Insurance and coverage are subject to availability and qualifications and may not be available in all states. Coverage descriptions listed are intended to be brief and do not replace actual policy language. Markel® is a registered trademark of the Markel Corporation.