Coverage that protects your Boats
We have a policy for most types of boats including bass boats, cruisers, fishing boats, pontoons, runabouts, sailboats, catamarans and utility boats.
Larger and faster boats such as
For physical loss or damage, coverage includes the hull, machinery, fittings, furnishings and permanently attached equipment as part of either an actual cash value policy or on an agreed amount value basis. These policies also provide broader liability protection than a homeowners policy. But there are distinct differences between the two types of policies.
Actual Cash Value
These policies pay for replacement costs less depreciation at the time of the loss. In the event of a total loss, used boat pricing guides and other resources are used to determine the vessel’s approximate market value. Partial losses are settled by taking the total cost of the repair less a percentage for depreciation.
Agreed Amount Value
This type of policy means that you and your insurer have agreed on the value of your vessel and in the event of a total loss you will be paid that amount. Agreed Amount Value policies also replace old items for new in the event of a partial loss, without any deduction for depreciation.
Boat insurance also covers:
- Bodily injury—for injuries caused to another person
- Property damage—for damage caused to someone else’s property
- Other driver liability—for any legal expenses incurred by someone using the boat with the owner’s permission
- Medical payments—for injuries to the boat owner and other passengers
Most companies offer liability limits that start at $15,000 and can be increased to $300,000. Typical policies include deductibles of $250 for property damage, $500 for theft and $1000 for medical payments. Higher limits may be available. Additional coverage can be purchased for trailers and other accessories. Boat owners may also consider purchasing an umbrella liability policy which will provide additional protection for their boat,
Boaters should also inquire about special equipment kept on the boat, such as fishing gear, to make sure it is covered and verify that towing coverage is included in the policy.
Boat owners should also inquire about discounts for the following:
Diesel poweredcraft, which areless hazardous than gasoline powered boats as they are less likely to explode
- Coast Guard approved fire extinguishers
- Ship-to-shore radios
- Two years of claims-free experience
- Multi-policies with the same insurer, such as a car, home or umbrella policy
- Safety education courses, such as those offered by the Coast Guard Auxiliary, U.S. Power Squadrons, or the American Red Cross.
Cover your boat on the water and on the road with boat insurance from East Insurance Group. With improved boating insurance coverage and competitive pricing, we can
Boat insurance discounts
Start saving on your boat insurance policy when you take advantage of discounts for:
- Taking a boat safety course
- Owning multiple boat coverages
Protect your boat with boat insurance
Request a free boat quote to get the coverage that’s right for you. Our options include:
- Physical damage
- Personal effects and fishing equipment
- On-water towing
- Rental reimbursement
- Roadside assistance