Boat insurance coverage

We understand that boats needs specialized insurance protection. Unlike some other insurers, we treat boats like boats. Not like cars. Not like houses. Not like something that can be easily bundled. So in the end, you get the peace of mind knowing that you and your boat are properly covered.

Coverage for your boat

Watercraft physical damage protection
Watercraft hull and equipment coverage helps pay for repairs or replacement of your boat if it is damaged or stolen. We know that each boater is comfortable with a different level of risk. That's why we offer a range of deductibles and give you options to increase the deductible on your boat insurance policy for a premium credit, if you don't mind a higher deductible. The range of deductibles also helps you adjust your boat insurance cost to meet your needs. Available options are 1% (minimum $250), 2% (minimum $500), or 3% (minimum $750) of the hull value.

Loss-free boating? Bye bye deductible!  For most boats, we will reduce your deductible by 25% each consecutive year that you are loss free. So, boat safely and you could get that deductible down to zero!

Agreed value watercraft and equipment
When you purchase physical damage protection with an agreed value settlement option from Markel, the agreed value of your boat, as described on your policy declarations page, is paid should the repair costs equal the value of your boat. 

For situations involving partial losses, there is no deduction for depreciation. 

Replacement cost coverage
With 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, including theft.

Personal effects
Personal effects coverage helps to protect personal items on board, such as cell phones, MP3 players, cameras, water skis, and personal flotation devices. We include $1,000 in coverage with each policy. If your belongings require additional coverage, you may purchase up to $5,000 (subject to a $250 deductible).

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 & tear and deterioration or the resulting damage. However, with Markel, if your boat is damaged from a fire, explosion, sinking, collision or stranding, you will be protected.

Ice and freezing damage
Leave your boat at your trusted marina for the winter and paid for winterization services, only to find once you pick up the boat, it was never properly winterized and your engine block froze and cracked! No problem.  Markel will cover the damage provided you contracted with a commercial marina or repair facility.

Ultimate drive coverage
Optional coverage that pays to repair or replace the drive for an outboard or sterndrive in the event of a mechanical breakdown due to wear and tear or defect.

Coverage for you

Watercraft liability
Watercraft liability coverage will help pay damages for bodily injury or property damage for which you are legally liable through ownership, maintenance, or use of your boat. Coverage includes partaking in watersport activities for most hull types. Available limits range from $25,000 to $1,000,000.

Remember, watercraft liability insurance won't pay for your boat or your injuries. It is there to 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
Medical payments coverage helps to pay for necessary medical treatment resulting from an accident causing bodily injury to any person while in, upon boarding, or leaving your insured boat. 

To show our appreciation for your business, we include $1,000 worth of medical payments coverage at no additional cost with your policy. If you prefer, we offer higher coverage limits as well.

Uninsured boater
Uninsured boater coverage will help to pay for 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. Since this coverage is included at no additional charge to you, their oversight won't become your problem. 

Additional coverage

Boat towing coverage
Each policy includes boat towing coverage that will reimburse 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.

Since we don't want our customers stranded, $500 towing coverage is included at no additional cost.  Higher limits may be purchased.

Boat lift coverage
Boat lift coverage may be purchased to provide protection for your boat lift. Some people are surprised to learn that damage to their boat lift may not be covered under their homeowner's policy. As marine specialists, we believe this coverage should be available to everyone.

Get an event insurance quote

*Insurance, coverage, and discounts 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. For questions or a complete definition of coverages and discounts available to you, please call a Markel Insurance Specialist at 1-800-236-2453.

Markel Customer Service
Hours of operation:
Mon.–Fri., 7:00 a.m.–8:00 p.m. CST
Sat., 9:00 a.m.–5:00 p.m. CST


Get a boat insurance quote now!