For anyone that owns or rents a boat, insurance is a must. Think of boat insurance as car insurance in that it protects people from unplanned and unexpected situations. This type of insurance usually protects against damage to the boat or damage to other property caused by the boat but is not always cheap. No boat owner wants to have to worry about how they will afford all the repairs to their vessel if an accident occurs. Boat insurance reduces that fear in that it covers some or all of the cost of repairs. But with so many different boat insurance companies, how does one know which one is best for them? For those looking for affordable boat insurance for 2017 here is a list of the top 10 boat insurance companies that are most affordable.
Boat U.S. is a very well trusted marine insurance program. They provide insurance for almost all marine vessels including powerboats, sailboats, yachts, and jet skis. All insurance packages for this company include full salvage cost coverage, $25,000 base medical coverage, and full coverage for any discharge of fuel/oil during an accident. Boat U.S. has many options for discounts on premiums. For those that complete certain boat safety courses, there is a discount. For those who keep their vessel in a lake or river, they receive cheaper premiums. Also, for those who go claim free each year, Boat U.S. provides a 25% reduction in their deductible.
Allstate is mostly known for their home insurance programs but they also have great quality boat insurance programs. This insurance program provides help with medical payments, property coverage, towing, and even boat trailer coverage. Allstate is great for those trying to save money on their insurance premiums. They offer a 20% discount for those who combine boat insurance with home insurance as well as a 10% discount for those who pay the premium in full. Also, for those who complete a boat safety course, Allstate provides a 5% discount.
Travelers insurance is great for boats of all sizes ranging from runabout boats to yachts. They provide coverage for towing, physical damage to boat, damage to personal property on boat, and damage to property of others. Travelers prides itself on having plenty of discounts for their customers. They even have a discount for those who own a hybrid or electric boat. Travelers also provides discounts on premiums for those that complete regular and advanced boat safety courses.
Progressive provides great boat insurance for a great price. They cover boats on all lakes and rivers within the United States as well as up to 75 miles off shore. They also do not require a navigation plan, which is great for those who just want to get up and go without having to worry about where they are going. Progressive also provides countless discounts for their customers including: original owner discount, safe boater discount, and multi boat discount.
Geico is another insurance company that provides extra discounts for those that combine insurance policies. The insurance plan covers the boat, motor, trailer, and damages. They offer unlimited 24/7 towing with no out of pocket expenses. Also, Geico offers discounts for those with a safe driving history, those who complete safety courses on boating, and for those who have more than one insurance policy with the company.
National Boat Owners Association
This insurance company deals strictly with boats and other marine vessels. They describe how each part of boating life (navigation, safety equipment, engines, etc.) affects insurance premiums. They provide coverage for unexpected spills, towing, and even damages. They are dedicated to customer safety and offer deals for those who acquire and install systems that will help in the case of an emergency.
This insurance company provides policies for all types of marine vessels ranging from jet skis to yachts. They provide coverage for almost all physical damages to the boat, the trailer, or both. SkiSafe provides water towing and on-road assistance to all customers along with replacement cost coverage for damages to boats before 36 months of ownership. They offer low premiums with extra discounts for those with excellent driving records, boating history, and those who have completed safety courses.
Most people know Nationwide and their jingle. However, not many people are aware that they provide great, affordable boat insurance. They offer collision and liability coverage for damages to the boat, motors, trailer, etc as well as medical payments and towing. Nationwide offers plenty of discounts for safe drivers, multi boat owners, boats that use diesel fuel, and for the completion of safety courses.
United Marine is in its 26th year of solely providing boat insurance. They make sure their customers know exactly what is being covered in their insurance policies by describing each aspect of the policy. United Marine is great for those who keep their boat in rivers and lakes as those locations have a much cheaper premium. They provide many different payment options on all of their policies and discounts for those who complete a boating safety course.
Anchor Marine Underwriters Incorporated
Anchor Marine is a marine and boat insurance agency that has been providing great service since the 1980’s. Customers love their fast and honest service and continue to use this company for many years. Anchor Marine covers many different types of boats including yachts, sailboats, runabout boats, classic boats, fishing boats, and many more. They also make sure that their customers know what plans to purchase that will provide top coverage and save them the most amount of money.
While there are plenty of insurance companies with boat insurance policies, these are the top 10 in that they provide great service and cheap premiums. While boat insurance is not required in many states, boating accidents can get very expensive so insurance is highly recommended. These cheap boat and marine insurance agencies make sure their clients know what is covered in each policy and why boat insurance is a necessity on the water. Even Trusted Choice, an independent insurance agency expresses the need for boat and marine insurance. No one wants to be in an emergency and not have someone there to help them and for those without insurance, if they get into an accident, they are on their own for paying the bills.
See also: Compare Boat Insurance Quotes