Boat insurance covers physical damage to your boat and motor, liability for injuries or damage you cause on the water, medical payments, towing and, in hurricane-prone states, haul-out and storage costs. It is separate from your homeowners policy, which offers little or no coverage for most boats.
- Required by law
- Not in most states we serve, but marinas and lenders usually require it
- Not covered by homeowners
- Most homeowners policies cap boat coverage at a small amount
- Hull coverage options
- Agreed value or actual cash value
- Hurricane season
- Policies may require a haul-out or named-storm plan in coastal states
- Bundle savings
- Multi-policy discount with a GEICO auto policy
What boat insurance covers
Hull coverage for the boat, motor and attached equipment after a collision, storm, fire, theft or sinking. Trailer coverage can be added.
Liability for injuries and damage you cause, plus fuel-spill and wreck-removal liability that many marinas require.
On-water towing and medical payments for you and your passengers.
Southeast boating specifics
Hurricane haul-out reimburses a share of the cost to move or secure your boat ahead of a named storm. It's worth having anywhere from Pensacola to the Outer Banks.
Navigational limits define where you're covered. Make sure your policy includes the offshore and coastal waters you use.
Bundling boat with auto earns a multi-policy discount, and boater-safety course completion can lower the rate further.
Available in these states
Boat Insurance FAQ
Is boat insurance required in Florida or Georgia?
Neither state requires it by law, but most marinas and lenders do, and liability protection on the water is important either way.
Does homeowners insurance cover my boat?
Usually only very small boats with low-horsepower motors, and only for limited amounts. Most boats need a dedicated policy.
What is agreed value vs. actual cash value?
Agreed value pays a fixed amount you set when you buy the policy. Actual cash value pays the depreciated value at the time of loss and is usually cheaper.
How much does boat insurance cost?
Boat insurance is priced on the boat's value, length, horsepower and age, where it is used and stored, your boating experience, and the coverage limits you choose. Personal watercraft and small fishing boats are usually inexpensive; larger powerboats in coastal Florida cost more because of hurricane exposure. A quote takes a few minutes.
Does boat insurance cover me while towing?
While the boat is on a trailer behind your vehicle, your auto liability typically covers damage the trailer causes to others, and your boat policy covers damage to the boat itself. Confirm trailer coverage is included when you quote.
Does boat insurance cover hurricane damage?
Yes if you carry physical damage (hull) coverage. Many policies in Florida and coastal Georgia and the Carolinas include a named-storm deductible and may require a hurricane plan such as hauling the boat out of the water. Ask us how your policy handles storms.