Nothing compares to being on the water, especially when you have your own boat. Whether your boat is on land or in the water, American Family Insurance wants to make sure it is protected. We’ll work with you to help you feel comfortable on the water. Our boat coverage guarantees that you have access to knowledgeable, personalised insurance and the committed assistance of your very own American Family Insurance agent.
Our primary policy coverages that are available for purchase include property damage, medical expenditure coverage, bodily injury liability, and physical damage. To better understand how you are protected, take a closer look at your available coverage options below.
What Is Covered by Boat Insurance?
Boat insurance assists in defraying your repair expenses in the event that your watercraft suffers a covered loss or damage. In the event of a total covered loss, you can be eligible for the outright replacement of your boat if you’ve added a new vehicle replacement coverage endorsement to your policy. There are restrictions, so be sure to ask your agent if you qualify for the coverage.
Check out all the wonderful ways we can keep you and your family safe while you’re out on the lake.
Insurance against physical harm to your boat
Your watercraft is protected from physical damage both on land and at sea with this coverage. Your watercraft is safeguarded from the majority of unintentional loss or damage whether it is submerged, in motion, or in storage. Additionally, your outboard motor and other equipment that was installed by the manufacturer are typically covered as well. The coverage also covers sails, spars, and rigging if you own a sailboat.
Typical covered losses for watercraft physical damage are as follows:
Impact with a different vessel or object
- Fire
- Explosion
- Overturn
- Sinking
- Theft
- Windstorm
- Vandalism
Emergency On-Water and Roadside Service
Emergency roadside and on-water services worth $500 are initially included with physical damage coverage for your boat; for an extra fee, they can be expanded to the following increments: $1,000 or $2,500. At the scene of the breakdown, service consists of mechanical labour or other services for up to an hour. Keep in mind that the coverage does not cover mechanical breakdown of the boat.
Additionally, this service offers towing to a nearby garage, marina, or other site so that repairs can be made. It should be noted that although delivery of fuel, oil, or a loaned battery is an option, the consumer is still responsible for making the purchase.
Boat insurance coverage
Your financial future and you are both protected by liability coverage. You may be held liable as a boat owner for injuries or damage to property resulting from mishaps involving swimmers, water skiers, other boats, docks, and other parties.
As vital as preserving your boat and equipment is protecting you, the users of your watercraft, and yourself from liability losses. We provide a variety of liability coverage limits to make you feel secure in the event of the unexpected.
Boat liability insurance includes the following extra protection at no extra charge.
Defence and claim costs
Boat liability insurance can help with litigation and defence costs if you are held liable for a covered loss and a lawsuit results.
Immediate first aid
In the event that your watercraft is engaged in a covered event, this extra coverage pays for the reasonable costs related to first aid incurred by third parties.
Equipment coverage for boats
Your watercraft insurance policy offers coverage for watercraft equipment up to $3,000 if you choose physical damage coverage, but you can expand that coverage if you need to. Accessories on the insured watercraft that were not installed by the manufacturer as part of the initial sale are considered watercraft equipment.
The watercraft trailer, boat hoist, maritime instruments, safety and life-saving gear, water skis, an electric trolling motor and an auxiliary outboard motor are all covered under this policy.
Medical costs
Both you and the other people in your watercraft are covered for medical expenses. If you, a member of your household, or a visitor sustains a covered unintentional injury as a result of owning, maintaining, or operating an insured watercraft or an insured watercraft equipment, we’ll cover reasonable medical expenditures spent by you, the member of your household, or the visitor for suitable and necessary medical treatments.
You can choose a policy limit from the following options.
$1,000 $2,000 $3,000 $5,000 $10,000
- $ 1,000
- $ 2,000
- $ 3,000
- $ 5,000
- $ 10,000
Cover for cleaning up an oil or fuel spill
Every boat and watercraft coverage includes this, which offers up to $10,000 per loss for the cost of cleaning up an unintentional gasoline or oil spill. In any 12-month insurance period, the cap for this coverage is set at $20,000.
Additional peace of mind with an optional boat insurance endorsement policy
American Family offers various boat insurance coverages so you can tailor your policy because people have varied boats, boat equipment, and comfort levels. These boat insurance endorsements can increase your current protection and provide you with additional piece of mind, while some may have restrictions.
Extra premium fees will apply to any extra boat insurance coverages. View the fantastic boat insurance endorsements we provide:
Reducing deductible
As a reward for boating safely, Diminishing Deductible credits your deductible up to $500 for each year without a claim. One way we give you control over what you pay is through this. And as soon as you buy this insurance, you’ll get a credit. And that may immediately make a significant effect.
Coverage for personal items and fishing gear
This boat endorsement covers losses of any additional items you may use on your boat, like as clothing, fishing gear, and diving gear. Another piece of good news is that things covered by a loss are compensated on a replacement cost basis, which means depreciation will not be taken into account.
The coverage can be purchased in $1000 increments with a minimum limit of $1000 and a maximum limit of $25,000.
Coverage of repair costs
This endorsement permits you to repair your boat, motor, or boating equipment without taking a depreciation deduction in the event that property damage results in a partial loss. Depending on the value of your boat, you may be able to raise the first coverage, which starts at $3,000.
Value-agreed hull coverage
In the case of a covered total loss, we will pay the agreed value limit you choose for your insured watercraft under this plan. Repair cost coverage for partial losses is included in the policy by default.
Coverage for uninsured or underinsured watercraft
This insurance helps shield you from losses sustained in an accident caused by a driver who lacked liability insurance or had insufficient liability insurance.
Various fixed levels of coverage are available in increments of $100,000 to $1,000,000.
Choosing the correct amount of boat insurance coverage can be crucial if the unexpected occurs while you’re out on the water. To find out how these boat insurance endorsements can be added to your policy, be sure to contact your American Family Insurance representative.
What is the price of boat insurance?
Boat insurance typically costs a few hundred dollars, however the cost varies for each boat owner depending on a number of criteria, such as:
- What kind of motor do you have, such as an inboard or an inboard/outdrive?
- its size, year, brand, model, and engine
- power of the boat in horses
- You’ve received qualifications and safety precautions, such as a certified safety course.
- Your history of insurance claims for boats
Obtain further discounts from American Family for boat insurance.
Boat and personal watercraft types that we insure
We will often cover your boat or personal watercraft if the MSRP is under $250,000. There are certain restrictions, so be sure to ask your agent for additional information.
Here is a list of a few examples of the watercraft we cover:
- Sailboats
- Rowboats
- Fishing boats
- Canoes
- Bowriders
- Pontoon boats
- Cabin cruisers
- Yachts
- Jet boats
- Other types of personal watercraft.