How to Find the Best Boat Insurance

As a boat owner, you probably know all about properly caring for your boat, keeping your passengers safe, and finding the best spots to enjoy a day on the water. What you might not be as sure of is how to find the best boat insurance to protect your treasured vessel. There are certain things you'll want to look for in your policy that go beyond the price.

Luckily, a local independent insurance agent can help you shop and compare boat insurance policies from multiple local carriers. They'll help you find the best rate for the ideal amount of coverage. But first, use our guide to learn how to compare boat insurance to find the right policy.

How to Assess Your Boat Insurance Needs

Your independent insurance agent can help you decide what coverage is best for your boat. However, you can also do a "self-inventory" to see what kinds of coverage might be appropriate. Try asking yourself the following questions to determine how much boat insurance you need.

• Are you an avid fisher or a recreational cruiser?
• Is your boat new or used?
• Is your boat made for high speeds or slow trolling?
• What are your boat’s make, model, and length?
• Do you boat in lakes and rivers, or coastal waters?
• Are you a solo boater, or do you often entertain others?

The answers to these questions can greatly influence how much coverage you need and which types of protection to look for in a complete policy. Keep your answers to these questions handy when you next speak with your independent insurance agent to ensure you get the best coverage for your needs and budget.

What to Look for in a Boat Insurance Policy

Depending on the type of boat you have and how you use it, your boat insurance needs may vary greatly. When you build your policy, it might include some or all of the following types of coverage.

• Boating liability insurance: Covers lawsuit expenses related to third-party claims of bodily injury or personal property damage.
• Comprehensive insurance: Pays for damage to your boat due to a non-collision event, such as a flood or theft. 
• Collision insurance: Pays for damage to your boat from a collision with another object, regardless of fault.
• Uninsured/underinsured boater insurance: Covers expenses related to property damage and medical treatments in case of a collision with a boater who doesn't carry adequate insurance to reimburse you.
• Medical payments insurance: Covers medical treatment expenses for yourself or your passengers after a boating collision, regardless of fault.
• Towing insurance: Covers towing expenses if your boat becomes disabled on the water due to mechanical failure, etc.
• Equipment insurance: Covers costs related to repairs or replacements for equipment or accessories not originally installed by the manufacturer, such as GPS units, boat hoists, and more, that get damaged, lost, stolen, or destroyed.
• Personal effects insurance: Covers the cost of repairs or replacements for personal items like scuba gear, fishing gear, and water skis that get damaged, lost, stolen, or destroyed.
• Fuel spill/wreckage cleanup insurance: Covers expenses related to wreckage and pollutant clean-up if you cause a collision on the water.

Your independent insurance agent can help you build a complete boat insurance policy that includes every type of protection necessary for your vessel.

How Much Does Boat Insurance Cost?

The current average cost of boat insurance is between $200 and $500. The cost of your boat insurance policy can depend on many different factors, including:

• The specs of your watercraft, including its make and model
• The engine size and length of your watercraft
• Your location and where you'll be boating
• Your boat insurance claims history
• Your personal boating history
• Where your watercraft is stored while not in use
• The types and amounts of coverage you select

A local independent insurance agent can help you find affordable boat insurance near you.

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How to Save Money on Boat Insurance

There are several boat insurance discounts that your carrier may offer to help you lower your premium rates. Discount options typically vary by insurance company, but you might be able to save money on your coverage by:

• Bundling your boat insurance policy with another type of coverage, such as homeowners insurance or auto insurance, with the same carrier
• Staying with the same boat insurance carrier for at least a few years
• Completing an approved boater safety course
• Installing security devices on your boat
• Being affiliated with certain groups or organizations
• Storing your boat for the winter months

Your independent insurance agent can help you find and apply any boat insurance discounts you're eligible to receive to reduce your rates as much as possible.

How to Compare Boat Insurance Carriers

Comparing boat insurance providers typically includes a thorough look at a number of factors. When looking for the best boat insurance companies, consider the following criteria.

• Financial stability: Consider each company’s financial strength and stability over time. Rating systems, like the AM Best credit rating company, provide a guideline for measuring a company’s current standing. The better a carrier's financial stability, the better its likelihood of paying out your boat insurance claims when necessary.
• Customer service: The best boat insurance companies are known for providing excellent customer service and delivering on their coverage promises to policyholders. You can read customer reviews of boat insurance carriers on many different websites, including the Better Business Bureau (BBB), and see the organization's official rating for each carrier. 
• Competitive rates: This one's best evaluated with the help of a local independent insurance agent, who can shop and compare policies and prices from multiple boat insurance carriers for you. Your agent knows which carriers offer the most affordable coverage that still deliver a top-notch experience.

If you have any further questions about comparing boat insurance companies, your independent insurance agent can assist you. They can also provide a list of recommended carriers for you to get started right away.

The Top Boat Insurance Companies of 2025

If you're in a hurry, you can also just skip ahead to our top recommendations for the best boat insurance companies this year. Any of these outstanding carriers can provide the coverage you need at a great rate.


           

Top Boat Insurance Company	Overall Carrier Star Rating
Progressive	5 Stars
Nationwide	5 Stars
PURE Insurance	4.5 Stars
Ahoy! Insurance	4 Stars
Global Marine Insurance Agency	4 Stars

An Independent Insurance Agent Can Help You Compare Boat Insurance

Evaluating your insurance needs, comparing your options, and choosing the right provider shouldn’t be a daunting task. That’s why allowing an independent insurance agent to help can be a great solution for many boat owners. Your agent can shop and compare policies and premium rates from multiple carriers in your area to find the best value. And down the road, your agent will still be there to help you file claims or update your policy when necessary.