Boat Insurance Cost Calculator

Boat Insurance Coverages

A boat policy includes: (1) Liability (BI/PD): for injuries or property damage you cause. Marina rules usually require $300K+ minimum. (2) Physical damage: collision, sinking, storm, fire, theft. Coverage written as either Agreed Value (set amount, no depreciation) or Actual Cash Value (depreciated). Agreed Value strongly preferred. (3) Uninsured boater: like uninsured motorist for cars. (4) Medical Payments: first-dollar medical for passengers. (5) Personal effects: belongings on board (fishing gear, electronics, sound systems). (6) Towing: on-water tow coverage. Source: BoatUS Foundation, NAIC. Last updated: May 2026.

Agreed Value vs Actual Cash Value

This is the most important boat insurance decision. Agreed Value: at policy inception, you and insurer agree on hull value (e.g., $45,000). After total loss, payout is the agreed value with no depreciation. Costs ~15-25% more than ACV. Actual Cash Value: payout is current depreciated value at time of loss. A 10-year-old boat insured for $30K might pay only $18K after total loss. Always choose Agreed Value for boats over $15,000 in value.

Hurricane and Lay-Up Provisions

Coastal policies often include named-storm provisions: pre-storm haul-out preparation (the insured must move the boat to designated safe location). Failure to comply = denied claim if damage occurs during named storm. Lay-up clauses give discounts if you don't operate the boat in winter months (typically Nov-March in northern US, year-round south). Document any seasonal storage at marina insurance address.

USCG Course and Other Discounts

Most insurers offer 10-15% off for completion of US Coast Guard Auxiliary or US Power Squadron boating safety course. Other available discounts: (1) Multi-policy with auto/home (5-12%). (2) Marina security or shore power monitoring (5%). (3) Diesel engine (10%+ — lower fire risk). (4) GPS tracker / LoJack-equivalent (5-10%). Stack 3-4 of these to cut premium 30%.