Frequently asked questions

Need more answers? Give us a call at 800-236-2453.

  • How much coverage do I need?
    There isn't a good answer to this question. 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 is best to evaluate your comfortable level of risk when protecting your boat, assets, and passengers. Your best option is to call our boat specialists at 800-236-2453 to discuss the best coverage for you.
  • I don't use my boat often. Do I really need boat insurance?

    It is best to remember, 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.

    Even if you aren't worried about covering your boat for physical damage, you should (at the very least) have a liability-only policy. This type of policy will help to protect your assets in the event that you are held liable for bodily injury or damage to someone else or their property in an accident.

  • I have two boats. Can they be on the same policy?
    Yup. Multiple units can be added to your Markel Specialty 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 marine insurance specialist a call at 800-236-2453 to learn more.
  • Isn’t my boat covered under my homeowner’s policy?
    Probably, but most likely it is not properly covered. When you insure your boat with Markel Specialty, you’ll get all of the extras that many other insurance carriers (like your homeowners) don’t offer. Our boat insurance coverage includes such things as water-sport liability, medical payments coverage and diminishing deductibles–coverages your homeowner’s insurance company may not even offer. Learn more by visiting our boat insurance coverage page.
  • Does Markel Specialty offer any boat insurance discounts?
    Yes, here at Markel Specialty, 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 5+ years of experience)
    • Multiple units discount for all units on the same policy
    • Outboard propulsion discount
    • Older operator discount (for those of us 40 or over)
    • Diesel engine discount

    Plus, we offer a diminishing deductible program! For each consecutive accident-free year, your deductible will decrease by 25%, all the way to zero after 4 years! A savings of more than $1,000!

  • My boat is older. Do you insure older boats?
    Whether your boat is a brand-new 2018 model, or your grandpa’s old 1960 model, 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 800-236-2453 to discuss the best coverage for you and your boat.
  • Does Markel Specialty 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 will be protected under our consequential damage coverage.

    Also, if you purchase our optional ultimate drive coverage, your boat will be protected 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! Markel Specialty's boat insurance policy will cover corporately titled boats, for both personal use and client entertainment. We do require all corporately titled boats designate a designee of the watercraft.
  • Is my boat trailer covered?
    Yes,   $500 of coverage is automatically included our base policy, with the option to purchase up to $7,500 worth of coverage.  We will cover your boat trailer if it is damaged while transporting the insured watercraft.
  • Does Markel Specialty offer watersport liability?
    Yes, watersport liability is automatically included with our watercraft liability on most boat types that are able to participate in watersport activities (i.e. coverage is not included for boats that cannot engage in watersport activities like airboats, hovercrafts, homemade/kit boats, inflatable boats or high performance cat and vee boats). Our watersport liability coverage provides protection to those individuals participating in most watersport activities on the insured boat. Note, the coverage is available for personal boating activities, and does not apply to any competitive watersport activities.
  • 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 will be covered!
  • Does it cost more if my kids waterski?
    No way! We know that is one of the main reasons people buy boats, so we're certainly not going to charge you extra for it.
  • Do you cover pontoon boats and other unique boats?
    Yes, we do! Get your pontoon insurance boat quote right now! We are marine insurance specialists, so we offer coverage for all 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 800-236-2453 to speak with one of our marine 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 protection at replacement cost. Please contact one of our marine insurance specialists at 800-236-2453 to find out more.
  • How long has Markel Specialty been insuring boats?
    We understand the lure of the water because we’re boaters just like you. What’s more, we’ve been boat insurance specialists for over 35 years. Needless to say, we know a thing or two about boats and, of course, boat insurance. And that means a whole lot of peace of mind for you.
  • 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 is paying for those repairs without an active insurance policy.
  • How do I file a claim?
    We understand that no one wants to file a claim. That's why we do everything we can to make the process as painless as possible. You may simply submit your boat insurance claim online or call us at 800-236-2453 and we'll take it from there!

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