Boat insurance

Markel Specialty - the boat insurance specialists

Protecting you out on the water for over 45 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.

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.

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.

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.

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.