Jane Dotson
BoatUS and GEICO have partnered to offer boat insurance policies at competitive prices. BoatUS insurance offers comprehensive coverage for boat owners, including protection for the boat, engine, and gear. The policy includes liability coverage, medical payments, and personal effects coverage. BoatUS insurance takes effect immediately upon purchase, providing peace of mind for boat owners. The cost of BoatUS insurance varies based on several factors, including the boat's size, age, power type, location, and usage. Policyholders can also add optional coverages, such as towing services and mechanical breakdown coverage, to further enhance their protection. With BoatUS insurance, boat owners can rest assured that they are protected against unforeseen events and can enjoy their time on the water with confidence.
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What You'll Learn
BoatUS insurance coverage
BoatUS provides insurance coverage for boats and PWCs in all 50 states and the District of Columbia. The insurance is underwritten by GEICO Marine Insurance Company, which is domiciled in Omaha, Nebraska.
BoatUS also offers liability coverage to protect assets without the added cost of hull coverage. This is their lowest-cost marine insurance policy. Additionally, they provide coverage for mechanical breakdowns, which is usually excluded from standard policies. This optional coverage is offered for boats that are 10 years old or less with an outboard or sterndrive motor. It covers the repair or replacement of the lower unit of an outboard motor or the upper and lower units of a sterndrive motor.
BoatUS insurance also includes coverage for personal items such as cell phones, tablets, stereos, and clothing that are lost or damaged while on board or during loading and unloading. For anglers and watersport enthusiasts, tournament reimbursement fees are also covered under personal effects.
Furthermore, BoatUS provides additional medical coverage of $25,000 for payments not covered by any major medical policy. This is to ensure that policyholders and their families do not incur large out-of-pocket expenses if injured onboard.
BoatUS offers a 24-hour dispatch hotline for immediate assistance, and in catastrophe situations, they deploy their "CAT" Team to expedite salvage and claims processing. Policyholders can also add TowBoatUS towing coverage to their policy, which provides services like towing to the nearest repair facility, flat tire repair, battery jumps, and fuel delivery.
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Policy options
BoatUS offers a range of policy options for boat insurance, which are underwritten by GEICO Marine Insurance Company and available to boat owners in all 50 states and the District of Columbia. The cost of boat insurance is influenced by several factors, including the type of boat, length, number of engines, horsepower, intended use, storage location, and the owner's experience and claims history.
One of the policy options available is the Agreed Hull Coverage, which provides protection for the lower unit of the insured outboard engine and outdrive in the event of a mechanical breakdown, a feature that is usually excluded in standard policies. This coverage also extends to fishing and watersports equipment, personal items, and Tournament Reimbursement fees for competitive anglers or watersport enthusiasts.
BoatUS also offers a policy that provides additional medical coverage for onboard injuries, ensuring that policyholders and their families are protected from large out-of-pocket expenses. This coverage is in addition to the medical payments limit selected with the policy and can provide peace of mind for those who spend significant time on their boats.
For those seeking a more affordable option, BoatUS offers a low-cost marine insurance policy that provides essential liability coverage without the added cost of hull coverage. This policy is ideal for smaller boats, personal watercraft, and boats without a lien holder.
Additionally, BoatUS provides the option to add TowBoatUS Towing coverage to your policy, which offers services such as towing to the nearest repair facility, flat tire repair, battery jumps, and fuel delivery. This coverage starts at just $3 a month and is based on boat size and location.
It's important to note that not all policy options are available in all states, and certain types of vessels may not be eligible for a GEICO policy. Mechanical Breakdown Coverage, for example, is offered to boats equal to or less than 10 years old, with pricing based on the age of the boat at the time of purchase.
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Boat insurance cost
The cost of boat insurance can vary significantly depending on various factors, with policies ranging from a few hundred to tens of thousands of dollars annually. The average annual cost of boat insurance policies at Progressive in 2023-2024 ranged from $267 in Minnesota to $839 in Florida. Generally, insurance rates are more affordable in states with no coastline, and coastal states tend to have bigger and more expensive boats. The Great Lakes states often fall into the low-cost category due to smaller boat lengths and shorter boating seasons.
The type of watercraft is a crucial factor in determining insurance costs. Fishing boats, pontoon boats, sailboats, and personal watercraft have unique features that can affect the policy price. The size, value, and horsepower of your boat are also significant considerations, with insurance for a $20,000 boat averaging $300 per year, while a $2 million yacht can cost up to $30,000 annually.
Your boating history and experience can influence rates, with more experienced boaters potentially receiving lower insurance premiums. Maintaining a clean boating and driving record is essential, as accidents or illegal actions on the water can increase your insurance costs. Additionally, enrolling in boating safety courses and installing safety features, such as an onboard fire suppression system, can help lower your premium.
The coverage limits and deductibles you choose will also impact the cost. A simple liability-only policy typically costs between $200 and $500 per year, while more comprehensive coverage can range from 1% to 5% of your boat's value. Bundling your boat insurance with home or automotive plans is an effective way to save on insurance costs without compromising on the coverage you need.
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BoatUS claims
BoatUS offers a range of insurance options for boat owners, including coverage for different boat types, engines, and personal items on board. The company has also partnered with GEICO to provide additional benefits to policyholders.
BoatUS insurance policies can vary in what they cover and when they take effect. For example, the Mechanical Breakdown Coverage option is only offered to boats that are 10 years old or less with an outboard or sterndrive motor. This coverage is an optional extra that pays to repair or replace the lower unit of an outboard motor or the upper and lower units of a sterndrive motor in the event of a mechanical breakdown. This type of coverage does not include the internal components of the engine itself. The cost of this coverage is based on the age of the boat at the time of purchase and increases over time as the boat ages and the risk of mechanical breakdown increases.
BoatUS also offers a 24-hour dispatch hotline for immediate assistance in protecting your property. In the event of significant damage or injury, inspectors will be assigned, and in catastrophe situations, the BoatUS "CAT" Team will be flown in to expedite salvage and claims processing. Policyholders can also add towing coverage to their insurance for as little as $3 a month, depending on boat size and location.
BoatUS provides several options for filing a claim. Policyholders can start the claims process online using their account on BoatUS.Geico.com/Account or through the BoatUS App. There is also a 24-hour claims hotline where policyholders can speak to an experienced claims specialist. Depending on the nature of the claim, the specialist will provide specific instructions on the next steps.
The cost of boat insurance from BoatUS is influenced by various factors, including the type of boat, length, number of engines, horsepower, intended use, storage location, and the experience and claims record of the owner. BoatUS also offers additional benefits, such as coverage for fishing and watersports equipment, personal items, and Tournament Reimbursement fees for competitive anglers or watersport enthusiasts.
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BoatUS towing coverage
BoatUS offers a range of towing coverage options for boat owners. The company has partnered with GEICO to provide insurance coverage for boats, boat trailers, and towing vehicles.
The BoatUS app is a convenient way to access towing services, with features like TowBoatUS CONNECT, which connects users directly to the TowBoatUS fleet for assistance. The app is available for iPhone, iPad, and Android devices.
BoatUS also offers unlimited towing memberships, such as the Unlimited Freshwater Towing Membership for $109/year, which provides towing services for boats in freshwater locations. The Unlimited Service Area covers a minimum of 25 miles from the responding TowBoatUS port, with no out-of-pocket expenses for towing or soft ungrounding.
Additionally, BoatUS provides roadside assistance when purchasing insurance for boat trailers, including towing to the nearest repair facility, flat tire repair, battery jumps, and fuel delivery.
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