cheapest sailboat insurance

Sailboat Insurance: The Best Options By Far

Last Updated by

Daniel Wade

January 26, 2024

Whether you own a yacht, speedboat, or fishing boat, it certainly didn't come cheap. So it's crucial to find the best sailboat insurance that will come to your rescue if something does happen.

Just like your home or car, your boat is probably one of your most prized assets and needs the right insurance as well. Even though boats are widely known for providing their owners with great recreation and adventure, they come with various types of risks. Whether it's an accident, fire, theft, or damage, these are just some of the disasters that can come your way and that can come your way. And even if boat insurance is not a must in your state or area, having your boat properly insured will keep your head above the water and prevent you from sinking. You, therefore, should understand how to protect your sailboat, yourself, and your passengers.

Boat insurance is essential in covering you in case of a loss of damage to your sailboat. It generally covers most types of watercraft including yachts, speedboats, pontoon boats, fishing boats, leisure crafts, paddle boats, and many more. Boat insurance will cover you from various things including collision damage, bodily injury liability, property damage liability, comprehensive coverage, and other additional coverage options.

The fact that sailboat insurance is widely available can make it quite overwhelming when looking for the right boat insurance for you. But to make it a lot easier for you, we've dug deep into the boat insurance industry and highlight the best sailboat insurance options to go for.

Table of contents

How to Find the Best Sailboat Insurance Coverage for You

There are a few things to consider when looking for the best boat insurance coverage for you.

What Does the Boat Insurance Cover?

It's of great importance to know what will be covered by your preferred boat insurance company before taking your boat out on the water. Needless to say, insurance policies and contracts are always very complex, so taking your time and understanding everything is essential. To give you a head start, here are a few things that your boat insurance should cover.

‍ Damage to the boat or permanently attached equipment such as anchors
Damage arising from fire, theft, vandalism, collision, and lightning
Property damage liability, which is essentially the damage that your boat causes to someone else's property
Bodily injury liability, which revolves around the expenses incurred when someone gets injured on your boat or by your boat
Medical payments for expenses incurred by you and your passengers in the event of an accident
Guest passenger liability, which revolves around the legal expenses incurred when something happens if another person was using the boat with your permission
Mechanical Breakdown coverage, which pays for the repair of any part of the boat as long as it's not caused by wear and tear

Some of the things that are not included in the insurance include:

‍ Normal wear and tear
Damage caused by sharks or other creatures
Defective machinery
Damage caused by mold and insects

Types of Boat Insurance Policy

It's essential to know the type of boat insurance policy that you want. The two common options include:

Agreed Value - This is the amount that is agreed between you as the boat owner and the insurance company. This boat insurance tends to be more expensive since your boat's depreciation isn't taken into consideration. So in case of an accident, the insurer can even end up paying more than the current value of the boat.

Actual Cash Value - This revolves around the insurer paying up to the current actual value of the boat if anything happens. These premiums tend to be lower since the insurer will calculate the depreciation value and pay depending on the actual value of the boat.

Important Things to Know

Here are some important things to know as far as boat insurance is concerned.

‍ Navigational Limits - These are limits that outline where you can navigate your boat and you may not be covered if you venture beyond the agreed territory. Needless to say, your premiums will be higher if your navigation limits are extensive.
Marine Inspection - Most insurers will require your boat to be inspected by a certified marine surveyor to assess the condition for the boat and its market value.
Layup Periods - These refer to periods when you take your boat out of the water such as during winter when you're not boating. Most insurers will give you credit but you may not be covered if you take the boat out for a ride during the layup periods and something happens.
Underage Operators - Do not be tempted to offer your boat to an underage if he/she doesn't meet the age and license requirements in your area.

Best Sailboat Insurance Companies

Progressive.

As one of the leaders in the insurance industry, Progressive has been providing boat insurance for over 35 years. This company has insured over 1 million boats and has a network of independent agents across the country who are always willing to guide you through their policies.

Although Progressive is widely known for providing auto insurance, its boat insurance offerings revolve around covering small to medium-sized boats measuring not more than 50 feet in length with value not exceeding $500,000. Some of the coverage options to expect from this company include collision coverage, comprehensive coverage, bodily injury and property damage liability, medical payments, mechanical breakdown coverage, and many more.

Unlike most boat insurance companies, Progressive doesn't require boaters to provide a navigation plan. As long as your seafaring adventures are within 75 miles of the U.S. or Canadian coastlines, Progressive will offer a solid and reliable plan for your boat insurance. The company's customizable boat insurance is a cherry on the cake as it makes it a lot easier for boaters to bundle their policies and work within their budgets.

Allstate - Best for Budget

Consistently ranked among the best by various rating institutions in terms of financial strength and customer service, Allstate is one of the biggest providers of boat insurance in the country. With boat coverage options as low as $21 monthly, Allstate offers some of the most affordable coverage options in the boat insurance industry.

The company offers many types of boat insurance and pledge to keep their customers in good and safe hands. From your repair costs, trailer coverage, watercraft liability coverage to uninsured watercraft coverage, and many more, the average cost of boat insurance from Allstate is just about $20 a month.

Nationwide - Best Option for Bundling

Offering unique options for each boater's unique boating lifestyle, Nationwide is widely known for offering the best multi-policy options in the boat insurance industry. In other words, it can give you some of the best coverage options for your boat if you decide to combine your home, car, and boat insurance. With this, you'll get amazing extra perks such as rental reimbursement coverage, optional towing, and road assistance if your boat trailer is included in the coverage.

This is a company that will offer you amazing deals and discounts of up to 25% if you choose to bundle your boat insurance with at least one other policy provided by the company. What's more; they offer affordable packages for fishing equipment ($1,000), personal effects ($3,000), and towing ($500).

United States Power Squadron (USPS) Boat Insurance Program - Best for USPS Members

USPS is one of the few boat insurance companies that strictly offer insurance for boats. This may be quite disadvantageous for those looking for bundling options but it's great if you're looking for a company that puts its total focus on ensuring your safety and that of your vessel while out there on the water.

As such, this company offers automatic coverage for water skiing, hurricane safe harbor reimbursements, and personal effects coverage of up to $1,500. It also offers automatic fuel spill liability not exceeding $854,000. This is a company that offers among the most competitive packages for serious boaters out there. They offer online quotes, same-day coverage, and policy discounts if you pay premiums in bulk as well as round the clock claims processing.

Markel - Best for Anglers

If you're an angler looking for the best boat insurance for your vessel and fishing equipment, as well as other personal effects, look no further than Markel. With its professional fisherman policy, this company offers replacement cost coverage of up to $5,000 for fishing equipment and cost coverage of up to $10,000 for personal effects.

The company also offers discounts for operators aged 40 and above, accident-free discounts, and discounts for anglers or boaters with more than five years of experience. The best part is that you can save up to 35% on your boat insurance premium if you qualify for these discounts.

So whether you're a professional angler or just fishing for fun, Markel offers some of the best boat insurance coverage options for anglers. You'll be in safe hands with just $100 per year but this may depend on the coverage options that you need.

BoatUS - Best for Additional Benefits

Acquired by Geico in 2015, BoatUS has been offering boat insurance through its affiliation with the Boat Owners Association of the United States. It offers all types of coverage options including actual cash value coverage, liability-only coverage, and full coverage at an agreed value.

The best part for considering BoatUS for your boat insurance is that the company has some of the best additional benefits in the boat insurance industry. For example, all policies must include fuel spill liability coverage and supplemental medical coverage. This, therefore, means that the total costs of your insurance premiums will be reduced significantly thanks to these deductibles and additional benefits. You can also get discounts for good driving records and the completion of approved safety courses. For members, there are even more additional benefits.

State Farm - Best for Emergency Services Coverage

As one of the best-known names in the insurance industry in the country, State Farm might be your go-to-guys if you're looking for the best emergency services coverage. The company offers optional emergency services for up to $500 to service your boat, boat trailer, or motor in case of any damage as stipulated in your coverage contract. The company's optional wreck-removal coverage can also be ideal for you if you're looking for reasonable expenses if you're required by law to raise or remove your boat or wreckage.

The company also provides multi-policy discounts, which can be ideal for you if you want to cut down paperwork and combine your home, auto, and boat insurance. So whether you're a proud owner of a yacht or a modest kayak, State Farm can provide coverage options for your unique needs, especially in times of emergency.

Foremost - Best for Flexible Coverage Options

Known for offering affordable boat insurance coverage options across the country, Foremost can be a great option for you if you're looking for a boat insurance company that can offer coverage options that are suited for your unique insurance needs. Some of its unique coverage options include enhanced towing services, hurricane haul-out, additional pollution liability coverage, fishing tournament fee reimbursement, trip interruption service, pet coverage, and many more.

Most of these coverage options are flexibly tailored to lower your premiums and make boat insurance quite affordable. This company is widely known for insuring specialty risks and can easily offer good, better, and best coverage packages depending on how much you're willing to pay and the types of coverage options that you want.

Hagerty - Best for Classic Boats

Just like classic cars, we all know that classic boats are a rarity and you certainly want the best insurer for your unique an exotic classic boat. Of course, owners of classic boats have special needs that might not be the same as other boats, and this requires a company that offers these specialties. Well, Hagerty takes immense pride as one of the best boat insurers for classic boats.

The company not only offers personalized insurance services but also utilizes actual cash value to determine the right coverage limits for your boats. Its agents are also affiliated with well-known boating clubs whose members are generally proud owners of classic boats. So you can consider joining one of these boating clubs and you might be in for significant discounts on your insurance premiums for your classic boat.

United Marine Underwriters - Best for Personalized Customer Service

Having provided boat insurance across the United States except in New Mexico for nearly three decades, United Marine Underwriters takes immense pride in presenting itself as a specialty boat insurance company that puts a lot of emphasis on customer service, happiness, and safety.

This company offers liability limits of up to $1 million and you get various discounts if you meet certain thresholds. For example, you'll get substantial discounts if you complete one of the recognized boat safety courses that are approved by the National Association of State Boating Law Administrators and the Coast Guard Auxiliary and Power Squadron. The company also assigns you a primary service person to take care of all your servicing needs, which is why it's widely known for its excellent customer service.

Legally speaking boat insurance is not a must in many states unless you come you're planning to boat in Utah, Hawaii, and Arkansas. However, the peace of mind that boat insurance gives you when out on the water can never be underestimated. And because your boat is probably one of your most prized possessions, it's essential to choose the best sailboat insurance option; something that covers all your needs.

I've personally had thousands of questions about sailing and sailboats over the years. As I learn and experience sailing, and the community, I share the answers that work and make sense to me, here on Life of Sailing.

by this author

Financial and Budgeting

Sailboat Insurance: The Best Options By Far

Most Recent

What Does "Sailing By The Lee" Mean?

October 3, 2023

The Best Sailing Schools And Programs: Reviews & Ratings

September 26, 2023

Important Legal Info

Lifeofsailing.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon. This site also participates in other affiliate programs and is compensated for referring traffic and business to these companies.

Best Bluewater Sailboats Under $50K

December 28, 2023

How To Choose The Right Sailing Instructor

August 16, 2023

Cost To Dock A Sailboat

May 17, 2023

Best Liveaboard Catamaran Sailboats

Can a Novice Sail Around the World?

Elizabeth O'Malley

June 15, 2022

Best Electric Outboard Motors | Life of Sailing

4 Best Electric Outboard Motors

How Long Did It Take The Vikings To Sail To England?

10 Best Sailboat Brands | Life of Sailing

10 Best Sailboat Brands (And Why)

December 20, 2023

7 Best Places To Liveaboard A Sailboat

Get the best sailing content.

Boat Insurance

Start a boat insurance quote and get out on the water..

Or continue previous quote .

Manage Your Boat Insurance Policy

GEICO Marine (formerly Seaworthy) Policyholders

Log in to GEICO Marine to manage your policy or call (877) 581-BOAT (2628)
Mon - Fri 8:00 am - 10:00 pm, Sat - Sun 8:00 am - 9:15 pm

SkiSafe Policyholders

Log in to SkiSafe to your policy or call (800) 225-6560
Mon - Thu 9:00 am - 7:00 pm, Fri 9:00 am - 6:00 pm, Sat 9:30 am - 5:30 pm

Or call us at (800) 841-3005

Need a boat insurance quote?

Existing boat policyholder?

Get a boat insurance policy to protect your investment.

Boat insurance helps you protect your boat or personal watercraft (PWC) investment. So if you travel across lakes, rivers, or ocean waters of the United States we can help keep your peace of mind afloat. Whether you're looking for a new boat insurance policy or just to save money, we can help you get started with a free boat insurance quote.

Make boating better, together. Experience and a name you can trust go a long way when you're shopping for boat insurance. That's why the GEICO Marine Insurance Company has teamed with BoatUS , the nation's largest group of recreational boat owners. Since 1966, BoatUS has been helping to make boating safer, more affordable, and fun. Together, we share a passion for all things boating.

We all want cheap boat insurance rates, but customer service matters too. Protect your investment with boat insurance you can count on and get your free online boat insurance quote today.

Why do you need boat insurance?

A boat insurance policy helps protect you and your boat. If you don't have a separate boat insurance policy, you're probably underinsured. This could mean paying a lot out of pocket for accidents outside your control. Many homeowners policies cover minor boating risks but don't cover your needs sufficiently due to:

Size restrictions
Limitations on horsepower
Limits on damage coverage

Check out our "boating insurance explained" video and article here for more reasons why boat insurance is a smart idea.

Boat insurance can provide coverage for:

Damage to your boat including hull, sails, equipment, and more.
New boat replacement
Fuel spill liability
Liability to pay for damages and injuries you cause if you hit another boat, person, dock
Medical coverage for you and persons in your boat.
Wreckage removal

What types of watercraft are covered by boat insurance?

All boats aren't the same. You need to customize your boat insurance to meet your needs and provide your watercraft with the proper coverage. Here is a list of the most common types of watercrafts.

Pontoon boats are one of the most popular inland water boats. They are a flattish boats that rely on floats to remain buoyant. Their wide and spacious area is great for many passengers to enjoy the ride.
Personal watercraft (PWC) are powered by a water jet pump and the rider generally sits, stands, or kneels on it. There are many types of PWCs which include WaveRunners, Sea-Doos and more.
Fishing and bass boats are designed and equipped for fishing. Most are powered by an outboard motor and are equipped with power poles, trolling motors, etc.
Powerboats are the most popular type of boat used for cruising, watersports, and so much more.
Sailboats are propelled partly or entirely by sails.

If you don't see your watercraft listed and are looking for more information on different types of boats and insurance for boats, check out our boat FAQ page .

What does boat insurance cover?

A policy insures your boat against damage and loss caused by common risks, such as collision, fire, storms, and theft. Boat insurance may also help protect you if you accidently injure someone or damage their property with your boat.

Service and Claims

When you choose GEICO Boat Insurance, you have access to:

Licensed agents as passionate about boating as you are
Expert service including 24/7 claims handling and towing
Experience you can rely on

24/7 Boat Towing*

GEICO Marine Insurance Company has teamed with TowBoatUS, the nation's largest towing fleet to provide:

24/7 boat towing assistance
On the water towing services provided by TowBoatUS
Fuel delivery services
Digital dispatch through the BoatUS app and more

Personal Watercraft (PWC) Insurance Coverage

You can get a boat policy for your PWC. Typical PWC insurance coverage includes:

Damage to another craft or dock
Physical damage to your watercraft
Towing assistance

How much does boat insurance cost?

Boat insurance is based on the type of boat, length, number of engines and horsepower, how you use it (recreation, commercial charter, racing, etc.), and how and where it will be stored. All of these factors, including the experience and claims record of the owner will factor into the cost of boat insurance.

You could save even more with these boat insurance discounts.

We know discounts and our watercraft insurance agents can help you get them to help you save on your boat insurance quote.

Multi-Policy Discounts

If you're a current GEICO Auto Insurance policyholder, you could save on your boat insurance .

Boat Safety Courses

We know that safety comes first when you're having fun on the water. When you pass boat safety courses, you could save money on your boat insurance.

Need to speak with a boat insurance sales representative?

You can reach us at (855) 395-1412

Mon - Fri 8:00 AM - 10:00 PM (ET)
Sat - Sun 8:00 AM - 9:15 PM (ET)

Boat Insurance: Get the answers you're looking for.

Is boat insurance required? Boat insurance liability coverage is only mandated in a few states, so always check insurance requirements for the state you're boating in. Physical damage coverage is required by your lender if you're financing your boat or watercraft. If you keep your boat at a marina, the marina may require you to have liability coverage.
Liability to pay for damages and injuries you cause if you accidentally hit another boat, person, or dock

There are some types of watercraft that can't be added to a new or existing GEICO boat policy:

Airboats, amphibious land boats or hovercraft
Boat with more than 4 owners
Boats over 50 feet in length
Boats over 40 years old
Boats valued over $2,500,000
Floating homes
Homemade boats
Houseboats that do not have motors
Steel hulls
Wooden hulls
Watercraft previously deemed a constructive total loss
Does boat insurance cover theft? Our Ageed Hull Value, and Actual Cash Value policies protect against damage to your watercraft from incidents out of your control, including theft.
How do I make a payment or manage my boat insurance policy? Managing your boat insurance policy and making payments is easy in the BoatUS app. You can also manage your policy or make payments online , or by calling (800) 283-2883 .
How do I report a claim on my boat insurance policy? You can report your claim through the BoatUS app. Claims can also be reported online , or by calling (800) 937-1937 .

GEICO has teamed up with its subsidiary, BoatUS, to bring boaters a policy developed by experts, with the great service you expect from GEICO. Policies are underwritten by GEICO Marine Insurance Company. BoatUS—Boat Owner's Association of The United States—is the nation's largest association for recreational boaters providing service, savings and representation for over 50 years.

The above is meant as general information and as general policy descriptions to help you understand the different types of coverages. These descriptions do not refer to any specific contract of insurance and they do not modify any definitions, exclusions or any other provision expressly stated in any contracts of insurance. We encourage you to speak to your insurance representative and to read your policy contract to fully understand your coverages. Some discounts, coverages, payment plans, and features are not available for all customers, in all states, or in all locations.

*Boat and PWC coverages are underwritten by GEICO Marine Insurance Company. The TowBoatU.S. Towing Coverage Endorsement is offered by GEICO Marine Insurance Company, with towing services provided by the BoatU.S. Towing Program. Towing coverage only applies to the insured watercraft.

Colorado Language Preference

Are you a resident of or looking for insurance in the State of Colorado?

We are temporarily unable to provide services in Spanish for Colorado residents. You will now be directed to an English experience.

Estamos encantados de ofrecer nuestra nueva version del sitio web en Español. Apreciamos su paciencia mientras seguimos mejorando su experiencia.

Boat Insurance from Experts.

Boat insurance from experts.

Your online quote is just minutes away!

Policies for All Boat Types - Yacht to PWC
Coverage for Fishing and Watersports Gear
Unlimited Towing from TowBoatUS
24/7 Claims Service from Boating Experts
Multi-Policy Discounts - Bundle and Save!

BoatUS and GEICO have teamed up to bring boaters a great boat insurance policy at a great price.

Search Search Please fill out this field.

We independently evaluate all recommended products and services. If you click on links we provide, we may receive compensation. Learn more .

Car Insurance
Car Insurance Companies

Best Boat Insurance

Be prepared for anything before you head out on the water

Boating accidents are more common than most people realize. The United States Coast Guard counted 4,439 boating accidents in 20201 alone, which resulted in $67.5 million of property damage and 658 fatalities. You can never predict when accidents will strike, but you can prepare yourself for any possible catastrophe by purchasing the best boat insurance for your needs.

We evaluated boat insurance policies from more than 20 nationally recognized brands to help you determine who offers the best boat insurance your money can buy before you head out on the water. After our careful analysis, we selected five companies that offer the best boat insurance.

Best Boat Insurance of 2024

Best Overall: Allstate
Progressive: Best for Cheap Boat Insurance
Nationwide: Best for Policy Bundling
Foremost: Best Variety of Coverage
Markel: Best for Fishermen
Our Top Picks
Best for Cheap Boat Insurance
Best for Policy Bundling
Best Variety of Coverage
Best for Fishermen
See More (2)
Compare Providers

The Bottom Line

Frequently asked questions, methodology, best overall : allstate.

Great coverage including many extras

Average national rates around $25 per month

Limited info online about restrictions and exclusions to coverage

Allstate offers a very comprehensive lineup of options for boat coverage, including:

Watercraft liability coverage
Property coverage
Repair costs
Medical payments
Uninsured watercraft coverage
Additional equipment and personal effects
Trailer coverage
Emergency services (such as towing, labor, and fuel, oil, and battery delivery)
Agreed value

Even though Allstate offers boat coverage starting at about $25 per month, it doesn’t shy away from discounts. You may qualify for the following when you insure your boat with Allstate:

Multiple Policy Discount – Discount when you combine your boat insurance with an Allstate homeowners policy
Full-Pay Discount – Discount for paying your full premium upfront
Homeownership Discount – Discount for owning a home
Boat Education Discount – Discount when you take an approved boater safety class
Easy Pay Plan Discount – Discount when you enroll in automatic payments

Limitations

Allstate does not disclose many limitations on its boat coverage. However, some types of coverage and discounts are not to be had in all states, so it’s best to contact a local Allstate agent to verify the availability of coverage and discounts before switching over to Allstate for your boat insurance.

Additional Perks

Allstate offers the best of both worlds to its customers: local agents to help you with your insurance needs, as well as online tools and an 800 number to get questions answered anytime.

Allstate’s website also has a lot of information and resources for boaters, which can be especially helpful to new boaters or those with limited experience in owning a boat. The company offers articles and videos on boat maintenance, dealing with accidents and other marine emergencies, and handling your boat and boat insurance during the offseason.

Progressive : Best for Cheap Boat Insurance

Rates as low as $100 per year

Wide array of coverage

Lots of available discounts

Restrictions on types of boats covered

As expected from one of the industry leaders in personal property insurance, Progressive offers all of the major coverage and more, including:

Bodily injury and property damage liability
Comprehensive coverage
Collision coverage
Uninsured/underinsured boater (UB/UIB)
Propulsion Plus mechanical breakdown coverage (add-on, starts at $38 per year)
Sign & Glide on-water towing (add-on, starts at $30 per year)
Fishing equipment or carry-on items
Water sports injury coverage
Fuel spills and wreckage removal
Roadside assistance and trip interruption (if you elect trailer coverage)
Full replacement cost

You can potentially save even more with Progressive by qualifying for some of the following discounts:

Advanced Quote Discount – For those who obtain a quote and sign up for coverage at least 24 hours before you want it to go into effect
Transfer Discount – For those who move their boat to Progressive from another company
Multiple Policy Discount – For those who maintain multiple types of insurance with Progressive (car, boat, motorcycle, homeowners, etc)
Multi-boat Discount – For those who insure more than one vessel
Association Discounts – For those who are members of the United States Coast Guard Auxiliary, United States Power Squadron, or USAA
Original Owner Discount – If you’re the original owner of your boat
Responsible Driver Discount – For boaters who remain accident-free on the water for at least three years
Prompt Payment Discount – Automatically discounted so long as you pay on time
Pay-in-Full Discount – For paying your entire premium upfront

Additionally, Progressive offers these perks that help customers save on their boat insurance over time:

Small Accident Forgiveness – This prevents your rates from increasing if you end up in a boating accident with a claim under $500.
Large Accident Forgiveness – This prevents your rates from increasing after an accident if you’ve previously remained accident-free for three years.
Disappearing Deductible – Your deductible lowers by 25% for each period you remain claim-free until it finally reaches zero.

Progressive boat insurance is only available for boats up to 50 feet in length, and in some states that experience higher hurricane risks, the limitations are 35 feet and $175,000 in value.

Progressive also places some age and value restrictions on the boats it covers. For example, it will not insure the following:

Boats over 10 years old and worth more than $500,000
Boats that are 11 to 20 years old and worth more than $250,000
Boats over 20 years old and worth more than $60,000
Boats used as a primary residence
Houseboats that do not have motors
Homemade boats without a hull identification number
Boats with more than two owners
Boats with steel or wood hulls
All amphibious land boats, hovercraft, and airboats
PWCs worth more than $27,000
Boats that do not meet published U.S. Coast Guard standards

If you aren’t sure if your boat fits into Progressive’s coverage requirements, you should contact Progressive over the phone to ask clarification questions and obtain a quote.

Other companies place restrictions on where you can use your boat, but Progressive gives you the freedom to sail wherever you’d like on any lake or river in the United States, as well as in ocean waters within 75 miles of the coast.

Progressive also waives some requirements that other companies force on customers, such as navigation plans and marine surveys. These requirements often cost customers hundreds of dollars, which means you save even more by using Progressive.

Finally, Progressive offers a variety of online tools and features, including the Name Your Price Tool and a mobile app. These help travelers access their plans and make changes anytime.

Nationwide : Best for Policy Bundling

Multi-policy discount for those who bundle boat insurance and at least one other policy with Nationwide

Boat insurance packages to help customers save money

No online quote tool for boat insurance

Not all coverages and discounts available in all states

Nationwide offers lots of options for boat insurance coverage, including:

Uninsured/underinsured boater
Medical payments coverage
Roadside assistance (for boats and trailers)
On-water boat towing and labor
Fishing equipment insurance
Personal effects insurance

Furthermore, there may be additional savings on your boat insurance when you select one of Nationwide’s boat insurance packages. The company offers a wide range of packages for different types of boaters, such as:

Weekenders – For those who simply take gear onto their boat and remove it when they’re done, Nationwide offers an affordable package that includes up to $1,000 for fishing equipment, $3,000 for personal effects, and $500 for towing.
Overnighters – For those who take short boating trips, Nationwide offers up to $2,500 for fishing equipment, $5,000 for personal effects, and $2,500 for towing.
Light Tackle Anglers – For customers who own a bass boat or smaller fishing boat, Nationwide offers up to $5,000 for fishing equipment, $2,000 for personal effects, and $2,500 for towing.
Deep Water Pros – For those who fish big waters, gulfs, bays, and oceans, Nationwide offers up to $10,000 for fishing equipment, $5,000 for personal effects, and $2,500 for towing.

The best way to save with Nationwide is by bundling your insurance policies with them. While the company's website claims customers can save up to 20% when bundling home and auto, it does not mention specific savings on bundling another policy with your Nationwide boat insurance. However, customers who choose to bundle a boat policy with their home, auto, or life policy with Nationwide will be awarded a discount.

In general, Nationwide offers these discounts to people who insure boats:

Multiple Policy and Multiple Boat Discounts – For those who combine home, boat, vehicle, and/or life insurance policies
Boater Safety Course Discount – For those who complete an approved water safety course
Diesel Fuel Discount – For those who own a diesel-powered boat
Paid-in-full Discount – For those who pay their 12-month premium upfront
Claims-Free Renewal Discount – For those who are claim-free during the previous year

Although Nationwide doesn’t specifically list limitations on where you can obtain its boat insurance, the company does stress that not all products and discounts are available in all states. Contact a local Nationwide agent or use the company’s website to obtain a quote before switching your boat coverage over to Nationwide.

Nationwide offers a digital experience through its website and mobile app. On the website you can take advantage of resources as well as manage your policy through the company’s customer portal.

Foremost : Best Variety of Coverage

Variety of packages and coverage options

Several great discounts

Limitations on who can receive coverage

When it comes to coverage, Foremost offers many standard coverage options, including:

Watercraft physical damage
Personal liability
Uninsured watercraft
Towing and Roadside assistance
Personal property

Additionally, Foremost offers numerous packages that let boaters customize the coverage they receive. These include:

Saver Package – The most affordable package includes cash value settlements in case of a total loss
Plus Package – Includes all of the basic coverage plus agreed value/total loss replacement cost settlement, watersports liability, diminishing deductible, extended depreciation deferral, and hurricane haul-out
Elite Package – Offers the most coverage possible, with perks such as boat lift/hoist/cradle coverage, fishing tournament fee reimbursement, pet insurance, trip interruption coverage, enhanced towing services, Bahamas and Mexico navigation coverage, extended total loss replacement, and depreciation deferral
Pontoon and Pontoon Elite Packages – For the specific needs of pontoon boats
Classic and Classic Elite Packages – For boats more than 25 years old
Performance and Performance Elite Packages – For speedboats that reach speeds of 77 mph or greater
Personal Watercraft Insurance – With features specifically tailored for personal watercraft

Foremost’s discounts include:

Lay-Up Discount – For those who store their boat for at least three months each year
Paid-in-Full Discount – For those who pay their entire coverage period upfront
Boating Safety Course Discount – For those who complete an approved safety course or obtain a marine license
Protective Device Discount – For those with boats that contain safety features (such as automatic fire extinguishing equipment, monitoring systems, an alarm system, a no-strike lightning system, a theft recovery system, dock assist, NMMA certification and/or a PWC brake system)
Multiple Policy Discount – For those who hold more than one policy through Foremost or its partner companies (Farmers, Bristol West, or 21st Century)
Multiple Unit Discount – For those who insure more than one boat
Loss Free Renewal Discount – For those who go three or more years without claims
Insured Age Discount – For those 55 or older
Affinity and Alliance Discount – For members of approved organizations

Although Foremost boat insurance is available in all 50 states, coverage and coverage amounts may vary by state. Foremost also limits and denies coverage based on credit scores , meaning that it may not be the best option for those with poor credit.

Foremost doesn’t offer a lot of perks, but the numerous coverage packages and discounts make it a viable choice if you want to have the ability to customize your coverage.

Markel : Best for Fishermen

Expansive coverage for fishing equipment

Savings of up to 35% with discounts including a diminishing deductible

No options to bundle with homeowners or car insurance

Markel offers boat insurance starting at just $100 per year depending on what coverage you need. Whether you’re a professional fisher or just enjoy fishing for fun, Markel offers lots of coverage, including for:

Watercraft liability
Agreed value watercraft and equipment
Emergency towing
Personal effects
Pollution liability
Replacement cost settlement
Fishing equipment
Professional angler liability
Tournament fee reimbursement
Crash damage
Theft away from home
Wreck removal

Although Markel doesn’t offer some of the discounts that larger insurance companies do, you can still save money through these discounts for:

Multiple boats
Outboard propulsion
Age (when the primary operator is 40 or older)
Diesel engines
Experienced boaters (for those with five or more years of boating experience)
Being accident-free (a diminishing deductible program reduces your deductible by 25% for every year that you remain accident-free until it hits zero)

Markel operates in all 50 states, but you should always consult with a customer service representative to see what boat insurance is available for you.

Additionally, Markel does not currently offer a smartphone app.

Although Markel boat insurance comes with a few limitations, there are some significant perks. For starters, the diminishing deductible program is one discount option that not all companies provide. Moreover, Markel is the only company we found that offers discounts for boaters over the age of 40, which can help older people who fish for fun save money.

The most notable perk with Markel, though, is the large amount of coverages it has as standard policy. The professional angler option provides replacement cost coverage for fishing equipment and personal items, in addition to covering the boat itself. These coverage options make Markel a standout pick for anyone who uses their boat for fishing in any capacity.

Compare Best Boat Insurance

Boat insurance protects one of your most expensive possessions and gives you peace of mind when out on the water. When selecting a policy, don’t forget to compare all the fine print and see which companies offer the best discounts and other perks to help you get the most bang for your buck.

Do I Need to Have Boat Insurance?

Though boat insurance is not required in every state, you shouldn’t go without it in most cases. If you end up in an accident or stranded out in the ocean somewhere, you’ll be glad you have it.

It’s recommended that you obtain boat insurance if you own one of the following types of boats:

Large sailboats
Personal watercraft (such as WaveRunners)
Motorboats (anything that runs faster than 25 mph)

Conversely, if you’re just using a canoe, a small-engine boat, or an inexpensive boat worth less than $1,000, you may not need boat insurance.

What Should I Look for When Shopping for Boat Insurance?

There are many factors to consider when shopping for boat insurance. For starters, you’ll need to decide if you want a policy that uses an agreed value policy or an actual cash value (ACV) policy. ACV policies are typically cheaper, but they provide less payout in the event of a total loss.

Furthermore, you’ll want to look for exclusions and restrictions to boat coverage. For example, some companies will only insure boats up to a certain size, whereas others will not insure boats used for commercial purposes. Knowing the specifics of your boat and what you’ll use it for can really help you find the best policy to fit your needs.

Once you find several companies that will cover your boat, read the entire list of standard coverage inclusions and compare. Where one company may offer towing as a standard feature, another company may only offer it if you pay an extra monthly fee. Noting these small differences could really save you money.

Finally, consider a company’s reputation and the attention it gives to its boat insurance. Some specialty insurance companies focus solely on coverage for boats and other recreational vehicles, while other companies just offer boat insurance as an extra to attract more customers. Noting this can help you get the best coverage from experts who know what they’re doing when it comes to boats.

Does Homeowners Insurance Cover My Boat?

Although some homeowners insurance policies cover boats, these typically come with several limitations. In most cases homeowners policies treat your boat like any other household possession (i.e. a television or couch), meaning that your policy will only cover the boat up to a certain value (10% of your home’s insured value in most cases). What’s more, liability insurance for your boat isn’t typically included under your homeowner's insurance. This means you’d be out any liability or injury costs in the event of a boating accident.

What Does Boat Insurance Cover?

At first glance coverage for your boat may look and sound a lot like auto insurance coverage. This makes sense given that a boat is basically a car that you drive in the water.

Bodily injury liability : Just like your car insurance policy, your boat insurance will cover costs associated with injuries you may cause others, such as medical bills, lost income, and pain and suffering.
Property damage liability : Just as car insurance covers property damage to other vehicles and stationary objects, boat insurance also covers damage to docks and other boats.
Collision coverage : Collision coverage is usually an optional coverage for cars, and it’s the same for boats. This type of insurance covers repairs and replacement of your own boat in the event of an accident. As with any other policy, though, always read the fine print on collision coverage; not all insurance providers will cover your boat if it sinks.
Comprehensive coverage : Comprehensive coverage protects your boat against all non-accident-related damage to your boats, such as theft, vandalism, and other potential hazards.
Umbrella coverage : In most cases, your insurance company will only insure your boat if you or other listed drivers on your policy are driving the boat. However, the exception to this rule is an umbrella policy . If you obtain this type of coverage, any driver is covered unless they are specifically excluded from the policy.
Additional types of coverage : Depending on the insurance company and the policy you select, you may also receive coverage for medical payments, roadside assistance, wreckage removal, watersports, fuel spills, carry-on items, fishing equipment, trip interruption, uninsured boater, trailers, and towing (both for the boat on a trailer and in the water).

When selecting the best boat insurance providers, we compared policies and discounts for more than 20 nationally recognized insurance companies that offer boat policies. We also looked at each company’s financial strength, customer satisfaction ratings, and reviews. We feel confident that our evaluations provide a useful guide to help you select a boat insurance company, but we always encourage you to shop around and compare quotes before signing on the dotted line for any insurance policy.

Thomas Barwick / Getty Images

United States Coast Guard. “ 2021 Recreational Boating Statistics .” Page 6.

Insurance Information Institute. “ Boat Insurance and Safety .“

Terms of Service
Editorial Policy
Privacy Policy
Your Privacy Choices

Best Extended Auto Warranty
Best Used Car Warranty
Best Car Warranty Companies
CarShield Reviews
Best Auto Loan Rates
Average Auto Loan Interest Rates
Best Auto Refinance Rates
Bad Credit Auto Loans
Best Auto Shipping Companies
How To Ship a Car
Car Shipping Cost Calculator
Montway Auto Transport Reviews
Best Car Buying Apps
Best Websites To Sell Your Car Online
CarMax Review
Carvana Reviews
Best LLC Service
Best Registered Agent Service
Best Trademark Service
Best Online Legal Services
Best CRMs for Small Business
Best CRM Software
Best CRM for Real Estate
Best Marketing CRM
Best CRM for Sales
Best Personal Loans
Best Fast Personal Loans
Best Debt Consolidation Loans
Best Personal Loans for Bad Credit
Best Home Equity Loan Rates
Best Home Equity Loans
What Is a HELOC?
HELOC vs. Home Equity Loan
Best Free Checking Accounts
Best High-Yield Savings Accounts
Bank Account Bonuses
Checking Accounts
Savings Accounts
Money Market Accounts
Best CD Rates
Citibank CD Rates
Synchrony Bank CD Rates
Chase CD Rates
Capital One CD Rates
Best Hearing Aids
Best OTC Hearing Aids
Most Affordable Hearing Aids
Eargo Hearing Aids Review
Best Medical Alert Systems
Best Medical Alert Watches
Best Medical Alert Necklaces
Are Medical Alert Systems Covered by Insurance?
Best Online Therapy
Best Online Therapy Platforms That Take Insurance
Best Online Psychiatrist Platforms
BetterHelp Review
Best Mattress
Best Mattress for Side Sleepers
Best Mattress for Back Pain
Best Adjustable Beds
Best Home Warranty Companies
American Home Shield Review
First American Home Warranty Review
Best Home Appliance Insurance
Best Moving Companies
Best Interstate Moving Companies
Best Long-Distance Moving Companies
Cheap Moving Companies
Best Window Replacement Companies
Best Gutter Guards
Gutter Installation Costs
Best Window Brands
Best Solar Companies
Best Solar Panels
How Much Do Solar Panels Cost?
Solar Calculator
Best Car Insurance Companies
Cheapest Car Insurance Companies
Best Car Insurance for New Drivers
Same-day Car Insurance
Best Pet Insurance
Pet Insurance Cost
Cheapest Pet Insurance
Pet Wellness Plans
Best Life Insurance
Best Term Life Insurance
Best Whole Life Insurance
Term vs. Whole Life Insurance
Best Travel Insurance Companies
Best Homeowners Insurance Companies
Best Renters Insurance Companies
Best Motorcycle Insurance

Partner content: This content was created by a business partner of Dow Jones, independent of the MarketWatch newsroom. Links in this article may result in us earning a commission. Learn More

Cheapest Boat Insurance

The cheapest boat insurance can be found for as low as $100 per year from companies like Progressive, Markel and Boat US, NBOA, Foremost and State Farm

Daniel is a MarketWatch Guides team writer and has written for numerous automotive news sites and marketing firms across the U.S., U.K., and Australia, specializing in auto finance and car care topics. Daniel is a MarketWatch Guides team authority on auto insurance, loans, warranty options, auto services and more.

Rashawn Mitchner is a MarketWatch Guides team editor with over 10 years of experience covering personal finance and insurance topics.

Key Takeaways:

You can get basic coverage for as little as $100 per year from boat insurance companies like Progressive and Markel depending on your situation.
Costs depend on the type of boat, condition, horsepower, location and more.
You can save more with different discounts from various companies.

In this article, we will break down our picks for the cheapest boat insurance companies in depth along with highlighting notable discounts and coverages for each. We’ll also guide you through the process of getting cheap boat insurance when comparing quotes and walk through everything you need to know when making your decision for coverage.

Who Has The Cheapest Boat Insurance?

We found that Progressive offers the cheapest boat insurance overall due to its low overall costs and plentiful discounts. You can also find affordable coverage for your marine vehicle from Market, BoatUS, National Boat Owners Association, Foremost, and State Farm.

Affordable Boat Insurance

The table below shows our picks for cheap boat insurance coverage :

Cheapest Boat Insurance Reviews

Below we’ve summarized the cheapest boat insurance providers, our reviews of each insurer’s services along with notable coverages and discounts offered by each.

1. Progressive

Progressive earned our Editor’s Choice award in our review of the best boat insurance due to its ample discount opportunities and wide array of coverage options. Most boaters can find the coverage they need at highly competitive rates through the insurer. Here are some highlights of Progressive boat insurance .

Notable Boat Insurance Discounts

Original owner : Progressive offers a discount if you are the first and only owner of your vessel.
Advanced quote : You’ll get cheaper boat insurance if you buy it at least one day in advance of your coverage beginning.
Prompt payment : Progressive gives discounts to policyholders who continue to pay their premiums on time.

Notable Boat Insurance Coverages

Sign & Glide ® on-water towing : You can opt to cover the cost of water towing and other emergency services as part of your boat insurance.
Propulsion Plus ® mechanical breakdown coverage : This MBI coverage pays for the cost of wear-and-tear repairs, which aren’t typically covered by standard insurance.
Trailer trip interruption : For an additional fee, trip interruption coverage will reimburse you for up to $500 in food, transportation and lodging costs if you break down over 100 miles from home.

Markel is a specialty insurer with a wealth of coverage options geared toward fishing pros and other serious boaters. For example, the company offers liability insurance for fishing companies and marine businesses, as well as optional coverage for rods, reels and other fishing equipment. Many of Markel’s discounts are also tailored toward experienced boaters who spend a lot of time on the water.

Experienced driver : If you have five or more years of experience operating a boat, you can get a discount on your Markel policy.
Mature operator : Markel offers discounted rates to boat drivers over the age of 40.
Diesel engine : Having a diesel-powered engine on your boat can earn you a discount.
Tournament fee reimbursement : This coverage reimburses fishing tournament entry fees if you miss the tournament for one of several qualifying reasons.
Fishing equipment : This add-on offers coverage for all your fishing gear, from tackle boxes to trolling motors.
Professional liability : Commercial anglers, tour guides and others who use their boats for commercial purposes can add extra coverage for injuries and property damage related to their work.
Ice and freezing damage : If you paid for winterization services but your boat still suffers damages from ice or freezes, this covers the cost of repairs and replacement parts.

As a specialty boat insurer, BoatUS is backed by Geico — one of the country’s largest and most reputable providers. The company is a membership organization that provides benefits and also lobbies government bodies for a wide range of marine issues.

Not only does BoatUS offer some of the most extensive coverage options, but it also provides coverage for the most expansive cruising areas among insurers in our review — a significant perk for serious boaters. However, note that coverage options vary depending on the type of boat you want to insure and where it’s located.

Bundling : You can get a multi-policy discount if you bundle your Geico auto insurance with your boat insurance.
Multi-boat : BoatUS offers a discount if you insure more than one vessel under the same policy.
Unlimited towing : You can opt to include unlimited towing from TowBoatUS in your policy. The price of this add-on is based on the length and value of your boat.
Diminishing deductible : With this option, you can reduce your deductible by 25% each year you go without a claim. Eventually, you can drop your deductible to zero.

4. National Boat Owners Association

Unlike the other companies on this list, the National Boat Owners Association (NBOA) is not a direct provider. Instead, it’s an insurance marketplace where agents can help match you with the coverage and company that best suits your needs and budget. Since the NBOA works with a variety of providers, its rates, discounts and coverages vary.

The NBOA is also a membership organization with valuable benefits such as industry discounts, towing and more. While membership is not included with insurance policies, it is open to anyone at two different price tiers.

5. Foremost

Foremost is a specialty insurance subsidiary of Farmers, one of the largest insurance companies in the country. In addition to the more traditional a la carte approach to building a policy, Foremost offers coverage packages designed to fit different needs and types of boats. The company includes emergency waterside assistance in many of its policies and several desirable add-ons in upper-tier packages.

Paid-in-full : Foremost offers a discount when you pay for your policy up front rather than in monthly payments.
Safety course : You can get cheaper boat insurance with Foremost if you complete a state-approved boat safety course.
Hurricane haul-out : This coverage pays for all or some of the cost of moving your boat to safety in the event of a hurricane.
Pollution liability : You can choose to cover costs related to fuel spills and other types of boat pollution, including cleanup, civil penalties and more.
Boat lift : With this additional coverage, Foremost will cover damages to your boat lift.

6. State Farm

As the country’s largest insurer, it should come as no surprise that State Farm offers a broad range of boat coverage. However, the company offers more specialized boat insurance than one might expect. With specialty coverage options for commercial fishers as well as for boats used as rentals, State Farm boat insurance is an especially solid choice for people who use their boats for business.

Lay-up : If you store your boat for several months out of the year, you could earn a discount on your boat insurance premium.
Fresh water : In some areas, you can get a discount from State Farm if you do not use your boat in salt water.
Boat rental liability : State Farm offers coverage for boats that you rent short-term from others.
Boat rented to others : You can also get coverage for boats that you rent to others to protect you from liability claims made against you.
Boat rental reimbursement and liability : Similar to rental car coverage, this covers the cost of a rental boat while yours is being repaired for covered damage. It also includes liability insurance for the boat you rent.

How To Get the Cheapest Boat Insurance

We’ve discussed how and why coverage rates for boats vary. While some factors are beyond your control, there are changes and adjustments you can make to get the cheapest boat insurance available to you.

See If Your Homeowners Insurance Covers Your Boat

Most home insurance policies have limited coverage for boats and other watercrafts in certain situations. However, most policies only pay up to $1,000 to cover damages. This amount is a common deductible for many homeowners policies, meaning it may not make sense to file a claim.

Nonetheless, your homeowners insurance typically covers damage to your boat in the following situations:

Falling objects

In addition, your homeowners insurance likely offers you liability coverage in the event of an at-fault accident. Most homeowners policies come with coverage you can use for restitution and legal expenses.

Find Boat Insurance Discounts

Discounts are a great way to find the cheapest boat insurance. These are some of the discounts you’re likely to find:

Multi-policy : Bundling your boat insurance with your auto or home insurance policy can save you money overall.
Multi-boat : You may be able to save on your premiums if you insure more than one boat under the same policy.
Boat education : If you take an approved boat safety course, you can get a discount from most insurance providers.
Paid-in-full : You can earn a discount from many providers if you pay for your entire premium up front rather than in monthly payments.
Claims-free : Insurers often offer a discount if you go for an extended period of time without filing any claims.
Association : Members of organizations like the U.S. Coast Guard Auxiliary, other military groups, professional organizations and more may be eligible for discounts.
Diesel fuel : Some providers offer discounts on coverage for diesel-powered watercraft.

While these are the most common boat insurance discounts, they’re not the only ones. The best way to learn all the savings opportunities available to you is to talk to an insurance agent.

Set a Maximum Lay-Up Period

Some providers offer discounted rates based on the length of time your boat is decommissioned. For some people, this is as short as December through February. But other boaters may only use their watercraft during summer months.

Not all insurance companies offer discounts for lay-up periods. But if it’s an option, it’s a great way to save money. Be realistic about when you plan to use your boat and maximize your lay-up period for the greatest discount.

Also, it’s important to note that some insurance policies only offer this discount because they do not cover damages that occur during the lay-up period. If you think your boat is at risk of being damaged while decommissioned, you may want to consider whether the savings you’d get on coverage are worth the additional risk.

Decide What Coverage You Actually Need

With almost any insurance product, more coverage is typically a good idea if you can afford it. However, if you’re looking for cheap boat insurance, it makes sense to figure out what coverage you do — and don’t — need.

For example, someone in Florida who uses their vessel occasionally for recreational boating doesn’t need the same levels and types of coverage as someone in North Carolina who uses their bass boat every day for commercial fishing. When you’re looking to save on boat insurance, be realistic about how much you will use your boat and what you’ll use it for.

Take a Boat Safety Course

Statistics show that boater safety courses can significantly reduce the chance of an accident. That’s why insurers typically offer a substantial discount for completing one.

According to the U.S. Coast Guard, the operator had not received any boater safety training in 77% of boat-related deaths that occurred in 2020. Only 12% of deaths occurred on watercraft where the operator received a certificate from a nationally approved boating safety program.

Boat safety courses can reduce the chance of an accident, but they can also reduce your boat insurance premiums. These days, you can find a wide selection of approved in-person and online options. Speak with a local insurance agent to see which programs their company recognizes for boat insurance discounts.

Boat Insurance Quotes

No one provider offers the cheapest boat insurance for every person and boat. While one company may be the cheapest for your neighbor, they may not offer the cheapest rates for you.

Just like you would compare car insurance quotes , we always recommend getting boat insurance quotes from multiple providers. That way, you can compare quotes from insurers to see which one offers the lowest boat insurance rates for you.

The Complete Boat Insurance Buyer’s Guide

Before you buy boat insurance it is good to understand the fundamentals of coverage policies. So to help you through your buying journey to find the best cheap boat insurance for you, we’ve made you a guide to costs, coverage, and determining whether you need a policy.

How Much Is Boat Insurance?

Based on our research, watercraft insurance typically ranges from about $200 to $500 per year , but the cheapest boat insurance policies can start as low as $100 per year. The wide range is due to the number of variables that affect the cost of insurance.

Here are the most important factors insurers consider when determining the cost of boat insurance :

Storage location : Your boat has different risk factors depending on where you store it. Boat insurance tends to cost more in coastal areas where risks are higher than inland areas, for example.
Type of boat : Different types of boats have varying features, uses and components. Therefore, boat insurance companies charge different rates to insure them.
Boat condition : Typically, the better condition your boat is in, the less it will cost to insure. Some companies require an inspection before giving a quote.
Cruising area : Where you plan to navigate is a factor in the cost of boat insurance. Generally, you’ll have to pay more for coverage if you plan to travel around areas considered high-risk.
Boat horsepower : Powerboats and speedboats with high-horsepower engines may cost more to insure than slower boats.
Safety equipment : Some insurers offer discounts for having certain safety devices on board. You may be able to get cheaper boat insurance if you install things like automatic fire extinguishers, anti-theft equipment and tracking devices.
Lay-up period : Some insurers offer discounted rates for each month that a boat is decommissioned. This is known as a lay-up period.
Deductible amount : Like auto insurance, you can choose your boat insurance deductible. Typically, the higher you set your deductible, the less you’ll pay for coverage.

Actual Cash Value vs. Agreed Value Coverage

Many marine insurance providers offer both actual cash value (ACV) coverage and agreed value coverage. These are similar-sounding terms, but there are significant differences between the two.

ACV coverage pays the estimated value of your boat at the time of a total loss, including depreciation. Agreed value coverage, on the other hand, bases the replacement cost on an amount you set with the insurer, regardless of your boat’s value at the time of a covered loss.

Agreed value coverage is typically more expensive than ACV coverage. However, it also generally covers more since it doesn’t take depreciation into account. A boat insurance agent can help break down the details.

What Does Boat Insurance Cover?

In short, boat insurance can cover pretty much anything related to your boat that you want it to cover. Similar to the best car insurance options, reliable boat insurance covers costs related to boating accidents, damage to your watercraft and other parts of boat ownership. Coverage plans range from minimal liability insurance to comprehensive coverage with add-ons for extra protection.

Types of Boats You Can Insure

Not all companies offer boat insurance for all types of watercraft. For example, some providers may not cover non-motorized boats like kayaks and canoes while others will.

While coverage availability varies, these are the types of boats you can typically insure:

Fishing boats
Personal watercraft (PWC) such as Jet Skis
Pontoon boats
Powerboats/speedboats

Standard Boat Insurance Coverage

Standard boat coverages are very similar to the standard types of coverage for auto insurance. Boat insurance breaks down into liability coverage, personal property coverage and personal medical coverage.

These are the standard boat insurance categories and what they cover:

Bodily injury liability : Medical expenses and lost wages of other parties in an accident for which you are found at fault
Property damage liability : Damages to other boats and personal property in an at-fault boating accident
Collision insurance : Damages to your boat regardless of who is found at fault for an accident, similar to automotive collision insurance
Comprehensive insurance : Damages to your boat from causes other than accidents, such as vandalism, extreme weather, fire and more
Medical payments : Medical costs for you and your passengers regardless of who caused a boating accident
Uninsured watercraft coverage : Damages if a boater who causes an at-fault accident lacks sufficient insurance

What Is Full Coverage Boat Insurance?

When you shop for boat insurance, you may see the term “full coverage.” This refers to a policy that combines liability coverage with collision and comprehensive coverage, ensuring your boat is covered from practically any kind of damage. Liability coverage compensates other people when you cause damage in an accident. But full coverage protects your boat’s hull, inboard or outboard motors, fittings, interior, machinery and other attached equipment regardless of who caused the accident.

Additional Boat Insurance Options

Full coverage boat insurance covers damages to your boat in most situations. But as any sailor knows, there are plenty of other expenses related to boating. Boat policy add-ons can help cover many of the additional costs related to owning, transporting and driving your vessel.

These are some of the most common boat insurance add-ons and what they cover:

Roadside assistance : Towing and other roadside services if the vehicle towing your boat trailer breaks down
On-water towing : The cost of towing your boat to the shore if it breaks down
Water sports injuries or damages : Injuries and damages sustained while participating in water sports like water-skiing, tubing or fishing
Fuel spill cleanup : The cost of cleaning up an area after you spill fuel
Wreckage removal : The cost of removing your sunken boat from an area and cleaning up if it sinks
Ice and freeze damage : Damage to your boat due to extreme cold weather or ice
Mechanical breakdown insurance (MBI) : Similar to an extended warranty, this covers the cost of repairs to your boat in the event of mechanical failure
Hurricane haul-out : The cost of moving your boat to safety if a hurricane is approaching the area where it’s stored
Personal property : The cost of life jackets, mobile phones, stereo equipment and other personal items aboard your boat

What Boat Insurance Doesn’t Cover

Boat insurance covers a lot — but not everything. Like other forms of insurance, there are exceptions and exclusions to your coverage.

Unless it specifically says otherwise, your boat insurance likely won’t offer physical damage coverage from the following causes:

Damage while using drugs or alcohol
Deterioration
Manufacturing defects
Renovations
Servicing and maintenance
Wear and tear

Do You Need Boat Insurance?

While having coverage is always a safer choice than not having it, there’s a chance that you may not actually need boat insurance. Before shopping for insurance for your watercraft, it’s worth deciding whether you need coverage.

Unlike car insurance, people in most parts of the country aren’t required to carry coverage for their boats. Only Arkansas and Utah require boaters to have an active insurance policy.

However, many marinas require you to carry liability coverage. So, while state law may not require you to be insured, many of the places that allow you to dock and launch your boat might. Some lenders also require borrowers to maintain coverage on their boat until they pay off the loan.

Boat Owner Risks

Just because you may not be required to have boat insurance doesn’t mean it isn’t a good idea. There are many risks that come with storing, transporting and using your boat:

Collisions : When one boat hits another on the water, the collision can cause serious injuries and property damage.
Damage during storage : Boats can be damaged while in storage when they’re moved, mishandled or hit by other objects.
Damage while moored : When your boat is moored, it can easily be damaged by sudden storms in coastal areas, or by other boats coming in and out of a marina.
Damage during transit : When on the road to its next destination, your boat is susceptible to potential issues like car accidents, road debris and extreme weather.
Swamping : It’s easy to run your boat into high ground underwater, and doing so often results in damage.
Sinking : In addition to the loss of your vessel, removing your boat from the water after it sinks is an expensive process.
Storm damage : Storms put docked boats and boats in storage near coastal areas at risk for physical damage, flood damage and sinking.
Theft : Boat theft isn’t as common as car theft, but it’s still a real risk for boat owners — according to the National Insurance Crime Bureau (NICB) , there were 4,240 watercraft thefts in 2019 alone.
Fire : Onboard fires are a risk for boats and boaters.

Boat Accident Statistics

Boating accidents are a considerable risk on the water, even for experienced boaters. In 2020, the U.S. Coast Guard reported 5,265 accidents that resulted in 767 deaths and 3,191 injuries. These accidents accounted for approximately $62.5 million in property damage.

According to Coast Guard data, boating accidents — and the injuries and deaths that result — are on the rise. Compared to 2019, the number of boating accidents increased by 26.3%. The number of injuries from boat accidents rose 24.7% and the number of deaths increased by 25.1%.

In addition, data from the USCG shows that property damage costs from marine accidents have increased. The year 2020 saw $62.5 million in property damages related to boat accidents. This is a 36% increase from 2017.

The bottom line is that while you may not technically need boat insurance in most places, owning a boat without it is a huge risk.

Cheapest Boat Insurance: Conclusion

Although you may not be required to have boat insurance, it’s worth considering since boating accidents and the costs that come with them are on the rise. Watercraft coverage can protect you from major financial losses and offer peace of mind, usually for just a few hundred dollars a year.

There are some simple strategies to finding the cheapest boat insurance. Assess how much coverage you actually need, find savings opportunities, take a boat safety course and be sure to shop around for quotes from multiple providers.

Cheap Boat Insurance Quote

Below you can use our free tool to start comparing cheap boat insurance quotes for your location.

Low-Cost Boat Insurance: FAQ

Below you can find frequently asked questions about the cheapest boat insurance:

Which company is best for marine insurance?

We named Progressive the best choice for marine insurance and gave the company our Editor’s Choice award based on its combination of prices, policies, industry reputation and customer service.

What is typical boat insurance?

Typical boat insurance policies offer a combination of liability, collision and comprehensive coverage. These marine insurance plans typically cost between $200 and $500 a year, unless you’re looking to cover a larger, more expensive boat.

Should you insure an old boat?

You should insure an old boat if you want to protect yourself from potentially severe financial losses, but you may not want as much coverage. It makes sense to carry strong liability coverage, but for an older boat it may not make sense to have high coverage limits for collision and comprehensive insurance.

How much boat insurance should you carry?

The amount of boat insurance you should carry varies based on the type of boat you want to insure. Industry experts recommend carrying at least $1,000,000 in liability boat insurance for a powerboat, but you may want higher limits for a more powerful boat or lower limits for smaller watercraft. For collision and comprehensive coverage, the amount of boat insurance you should carry depends on factors such as the value of your boat and your financial ability to replace or repair your vessel and its equipment.

Our Methodology

Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to formulate our rankings of the best boat insurance companies. We collected data on dozens of marine insurance providers to grade the companies on a wide range of ranking factors. The end result was an overall rating for each provider, with the insurers that scored the most points topping the list.

Here are the factors our ratings take into account:

Reputation : Our research team considered market share, ratings from industry experts and years in business when giving this score.
Availability : Boat insurance companies with greater state availability and few eligibility requirements scored highest in this category.
Coverage : Boaters can benefit from a wide variety of specialty coverage options. We evaluated companies based on the amount and diversity of coverage add-ons they offer for boat insurance.
Cost : As boat insurance costs are highly variable, our research team mainly considered the availability of policy discounts.
Customer Experience : Our research team took into account companies’ industry reputation with organizations such as the BBB as well as the ease and availability of in-person, over-the-phone and online services.

*Data accurate at time of publication.

Our top picks of timely offers from our partners

These are the best 5 boat insurance companies to cover your boat

Boat insurance can help protect your watercraft and your wallet..

Whether you have a speedboat, small fishing boat, yacht, sailboat or other type of watercraft, if you're a boat owner, chances are that you need some sort of insurance coverage for your vessel.

While only two states (Arkansas and Utah) require boat insurance, having coverage can help protect you financially if your boat is damaged, stolen or injured someone — either in the water or on land. You also may be required to carry boat insurance by your marina, or your lender if you have a boat loan.

A homeowners insurance policy may cover some damage to a boat, but it will likely not be sufficient coverage for many larger boats.

Here, CNBC Select rounds up the five best boat insurance companies based on coverage, availability and ease of use (see our methodology for more information on how we made this list).

Best boat insurance companies

Best for bundling: Geico
Best for specialty boats: Markel
Best for discounts: Progressive
Best for high-value boats: Chubb
Best for a wide variety of boats: Foremost

Best for bundling

Geico boat insurance.

The best way to estimate your costs is to request a quote

Policy highlights

Geico has teamed up with BoatUS (Boat Owners Association of the United States) to offer insurance to recreational boaters in all 50 states and Washington, DC. Its standard policies include options for both agreed hull value and actual cash value, as well as liability only policies.

App available

Wide variety of coverage options with additional add-ons available
Available in all 50 states and Washington, DC
Few discounts listed online

Geico offers boat insurance policies through BoatUS that cover many types of boats and scenarios. Its policies include helpful features like discounts for completing boat safety courses and optional add-ons like boat towing assistance, disappearing deductibles and coverage for your fishing equipment. Geico is rated highly for customer satisfaction and financial strength, also taking top spots in CNBC Select's rankings for best car insurance and best home and auto insurance bundles .

Best for specialty boats

Markel boat insurance.

Known for insuring niche products like boats, Markel's boat insurance is a strong option for the breadth of boats covered by its policies and the depth of coverage available. Markel policies include protection against theft, wreckage removal and emergency towing. It can also include coverage like tournament fee reimbursement and trailer and boat lift coverage.

Specialty coverage for fishing, including equipment coverage and tournament reimbursement
With few other policies available, limited opportunities for bundling

Markel offers coverage for a variety of specialty items, including boats. Its coverage is an especially strong option for those who use their boats for fishing, with some unique perks and coverage for things like tournament fees and fishing equipment. Markel has several discounts available to customers and offers special policies for personal watercraft and yachts. It also offers commercial policies if you use your boat for charters or excursions.

Best for discounts

Progressive boat insurance.

Progressive covers a wide variety of boats under 50 feet long and at or below $500,000 in value. It also offers several discounts for those who bundle their policies, take a safety course or are the watercraft's original owner.

Affordable on-water towing coverage is available
10 discounts for boat owners
Many age, value and material resctrictions on boats covered

Progressive is a strong choice for its boat coverage, covering a variety of boats valued under $500,000 and up to 50 feet long. Progressive stands out for offering competitive rates with 10 different boat insurance discounts, including discounts for paying in full, completing a safety course and getting quotes in advance. Optional policy add-ons include replacement cost coverage, hurricane haul out and Sign & Glide, which covers emergency services like on-water towing and jump starts.

Best for high-value boats

Chubb boat insurance.

Chubb is known for its coverage of high-value property and items and its boat insurance offerings are no different. Chubb offers boat coverage for pleasure boats up to 35 feet. Boat insurance coverage through this insurer caters to high-net-worth clients, and includes coverage for things like scuba gear and water skis and even high-end coolers.

Coverage for most watercraft up to 35 feet
May not be a good fit for those looking for a basic policy

Chubb is ideal for those insuring large or expensive boats or yachts. Creating policies to cater to those with higher-value properties and items, this insurer can cover luxury pleasure boats 35 feet and less. Chubb's unique, tailored coverage could be a good fit for clients who have an expensive boat with high-dollar items on board. It also offers unique services for yacht owners like complimentary background screenings on crew members, travel briefings and discounted rates on security services.

Best for a wide variety of boats

Foremost boat insurance.

With Foremost boat insurance, you get the same reliable coverage you would get through Farmers. Foremost offers coverage for a wide variety of watercraft, from fishing boats to cruisers. It also offers several discounts to customers, including a discount for paying in full.

Variety of boats are eligible for coverage
Several discounts available
Online quotes take two to three business days

As a Farmers Insurance company, Foremost offers coverage with the same great strength as its name-brand parent company. Foremost's boat insurance serves a wide range of boat types, from fishing boats to performance boats. With coverage available in all 50 states, it is a strong choice for many boat owners. Foremost also has multiple discounts available, such as for boat owners over 55, as well as special coverage options for USAA members.

What does most boat insurance cover?

Boat insurance generally covers the following:

Liability coverage that can pay for damages that you're found responsible for
Uninsured/underinsured boaters
Medical payments for you and your passengers
Specialty equipment or personal property onboard a boat

However, every policy is unique so it's important to review your policy to see what exactly is and is not covered.

Does boat insurance cover hurricanes?

Boat insurance can cover damage sustained from weather-related events, such as hurricanes, but it's not always included by default — it may be an optional add-on to your policy. Some insurers will also help cover the cost of moving your vessel out of danger during a hurricane advisory.

How much is boat insurance?

The average boat insurance premium is about 1.5% of the boat's insured value according to Bankrate . However, other factors like your credit score and location (and the length of the boating season there) can affect the amount you pay, too.

What are the three main types of boat insurance?

There are three types of boat insurance: actual cash value insurance, agreed value insurance and total replacement value insurance. Actual cash value policies pay for replacement cost minus depreciation if you have a claim, and are generally the most affordable. Agreed value insurance has an agreed-upon amount that the owner will receive if the boat is considered to be a total loss. Meanwhile, total replacement value insurance replaces damages with new items without considering depreciation.

Is it worth getting boat insurance?

Boat insurance can repair or replace a boat, and could be a useful tool for those with larger, powered boats. While smaller boats like a canoe or kayak may be covered under a homeowners insurance policy, a boat insurance policy can protect a larger and more expensive vessel, and make sure your finances aren't impacted if you're found liable for damages.

Bottom line

While boat insurance isn't required in every situation, having coverage can help ensure smooth sailing for you in a number of ways. Boat insurance can protect both your investment in your watercraft and your finances if you're involved in an accident. To find the best deal for you, it's important to get quotes from several insurers and compare them.

Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here .

Why trust CNBC Select?

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every boat insurance review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of insurance products . While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best boat insurance companies.

Our methodology

To determine the best boat insurance companies, CNBC Select analyzed dozens of U.S. insurance companies with policies for boats that suit a variety of needs.

When narrowing down and ranking the best boat insurance companies, we focused on coverage, availability, unique features and ease of use. We considered the number of states where coverage is available, the variety of vessel types and sizes covered, financial strength ratings from AM Best (which measures a company's ability to pay on debts), and the number of discounts available.

From there, we sorted our recommendations by the best overall and runner-up, the best for discounts, best for high-value boats, and best for a wide variety of boats.

Note that the premiums and policy structures advertised for motorcycle insurance companies are subject to fluctuate in accordance with the company's policies.

Catch up on CNBC Select's in-depth coverage of credit cards , banking and money . And follow us on TikTok , Facebook , Instagram and Twitter to stay up to date.

What is disability insurance? Here's how to tell if you need it Liz Knueven
The average tax refund this year — and what to do with yours Dan Avery
Bilt adds Alaska Airlines as transfer partner, is set end partnership with American Airlines Jason Stauffer

Credit cards
View all credit cards
Banking guide
Loans guide
Insurance guide
Personal finance
View all personal finance
Small business
Small business guide
View all taxes

You’re our first priority. Every time.

We believe everyone should be able to make financial decisions with confidence. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward — and free.

So how do we make money? Our partners compensate us. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services. Here is a list of our partners .

Boat Insurance: An In-Depth Guide

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money .

Table of Contents

Do you need boat insurance?

What boat insurance will pay for, boat insurance costs and discounts, where to buy boat insurance.

Your prized boat probably didn’t come cheap. Whether you own a bass fishing boat or a yacht, it’s important to find the right boat insurance that will come to the rescue if you have damage or theft. Here’s how to understand boat insurance policies.

Your home insurance policy covers your boat in some cases, but it doesn’t go far. Homeowners policies typically cap boat coverage at $1,000 or 10% of your home’s insured value. And liability coverage — which pays for damage your boat does to others — typically isn’t included under home insurance. So a home insurance policy might help you only if your boat is small, slow and inexpensive.

At a glance: Do I need boat insurance?

You can typically buy liability insurance — which pays for damage your boat does to others — in amounts from $15,000 to $300,000, according to the Insurance Information Institute. Here's what else you can expect from a policy:

Check, too, about additional coverage for trailers and accessories, for towing and for damage caused by an uninsured boater.

You can buy two types of damage coverage for a boat:

Actual cash value. This pays the value of your boat at the time of the damage. If your boat is destroyed, your insurance company determines its market value.

Agreed amount value. If your boat is destroyed, your insurer pays you an amount that you and the company agreed on beforehand. If your boat can be repaired, your insurer replaces old items for new ones without deducting for depreciation.

It’s also important to understand what your boat insurance covers before heading out on the water, says Todd Shasha, boat and yacht personal insurance director at Travelers Insurance. He recommends checking whether your policy can cover these scenarios:

Mechanical breakdown coverage. Pays to repair or replace your outboard motor as long as it’s not due to wear and tear.

Salvage. If your boat becomes disabled and a basic tow won’t help, you might need to call a salvage company to recover it. Typically a salvage company will ask for a percentage of the boat’s value as payment, which can be quite expensive. Not all insurance companies offer this coverage.

Gadgets. Not all boat insurers cover expensive accessories like fishing equipment or fancy coolers unless they’re permanently attached to the boat. For example, Travelers offers personal property coverage that pays you if they’re stolen or lost while out on the water. Endorsements, which are additions to your policy, are available if you want to increase the value of your personal property limits.

Some important things to know about boating and your policy:

Navigational limits: If you own a yacht or a larger boat, your policy will have limits outlining where you can navigate your vessel. If you venture outside of the territory you agreed to in the policy, your insurance may not cover you. Typically, the broader your navigation area is, the higher your insurance costs will be.

Layup periods: Taking your boat out of the water is typical during cold weather, and most insurance companies will give you a credit because it’s not being used. But take the boat out for a spin before the layup period ends and you won’t be covered by your insurance policy.

Marine inspections: If your boat is an older model, most insurance companies will want you to have it inspected by a marine surveyor in order to assess the vessel’s condition and market value. For safety’s sake, consider a marine survey even if it’s not required.

Underage operators: You might be tempted to let your 12-year-old drive the boat every now and then. But if your child doesn't meet age and license requirements in your state, your boat insurance policy might not cover you. Age and license requirements for operating personal watercraft vary from state to state. In Virginia and Florida, for example, no one under 14 may operate a personal watercraft. In Texas, children under 13 are barred from driving one unless a licensed operator who's at least 18 is on board. For requirements where you live, check with the boating regulatory agency in your state.

How much you’ll pay for boat insurance depends on the level of insurance coverage you want, as well as the size, horsepower, type and value of your boat.

You can choose your deductible, which is the amount deducted from your insurance check if you make a claim. A typical policy has deductibles of $250 for property damage, $500 for theft and $1,000 for medical payments, according to the Insurance Information Institute. Liability claims against you do not have a deductible.

Insurance companies offer a variety of ways to save money, including discounts for:

Having a diesel-powered boat.

Not having made a previous boat insurance claim.

Carrying other policies, such as car or homeowners, with the same insurer.

Taking safety courses.

Boat insurance is widely available. NerdWallet looked at the top 25 auto insurance sellers in the country and found these that also offer boat insurance:

Offers coverage for boats up to $250,000 in value.

AAA lowers your deductible by 25% each time you renew your policy and haven’t had a claim.

Average cost of boat insurance from Allstate is about $20 a month, according to Allstate.

Bundle boat insurance with an Allstate homeowners policy and you qualify for up to a 20% discount.

American Family Insurance

Additional coverage options cover personal items and pay for repairs to your boat and equipment, without a deduction for depreciation.

If your boat is disabled, an Amica policy covers towing to nearest port.

If your yacht can’t be repaired, Amica pays to replace it with a new one, without subtracting depreciation.

Auto-Owners

Optional boat insurance coverage is available through homeowners policies.

Country Financial

Country Financial homeowners insurance covers your boat for up to $1,500.

You can buy more coverage under your homeowners policy.

Erie’s standard Boat Protector Policy comes with extras, including payments up to $500 to fix or replace boating equipment and accessories, and payments up to $250 for emergency towing. (Not available in Kentucky.)

Farmers offers seven packages to fit your vessel type and coverage needs.

Geico’s optional premium boat towing service offers unlimited on-water towing (within 25 miles of an approved tower) and pays the service provider directly.

Geico offers several discounts, including one for passing a boat-safety course and for maintaining a good driving record.

You can cover your boat, sailboat or personal watercraft with an endorsement to your Hanover Platinum or Connections homeowners insurance policy.

The Hartford

Additional coverage, which costs extra, is available for your accessories, trailer and boat hull.

Liberty Mutual

You must have a homeowners insurance policy with Liberty Mutual to get boat and watercraft insurance.

Optional coverage includes hurricane protection, which pays up to $250 to move your boat out of danger during a hurricane advisory.

Unforeseen emergency services coverage pays $250 for towing and other services on land or in the water.

Personal watercraft coverage includes liability, collision, comprehensive, uninsured or underinsured operator, and medical payments.

Optional towing and labor also available.

Progressive

Total loss replacement coverage pays for a new boat if your new boat is a total loss within five years of adding the coverage.

Progressive offers several specialized coverage options, including 24-hour roadside assistance if your car breaks down while towing your boat.

Unlike some insurers, Progressive doesn’t require you to submit a navigation plan. Nor does it require an inspection of your boat.

State Farm’s optional emergency service pays up to $500 to service your boat, motor or boat trailer.

Optional wreck-removal coverage pays “reasonable expenses” to raise or remove your boat when it’s required by law.

Travelers splits the cost to move the vessel to safety when you carry “hurricane-escape reimbursement” coverage, which costs extra.

Antique boats get the same comprehensive coverage available in Travelers' basic policy.

USAA members get a 5% discount on boat insurance, but the discount is not available in all states.

USAA is open only to active and retired military and their families.

Juan Castillo is a former staff writer at NerdWallet.

On a similar note...

Agent Directory
Company Directory

Find an Independent Agent

Get Matched with an Agent
Agent Directory by State

Find an Insurance Company

Get Matched with a Company
Company Directory by State

What type of insurance do you need?

Business Insurance
Home, Auto & Personal Insurance
Life & Annuities

By Coverage Type

Commercial Auto Insurance
Professional Liability Insurance
Small Business Insurance
Business Umbrella Insurance
Workers' Compensation Insurance
Commercial Property Insurance
Business Owners Policy
Builders Risk Insurance
Cyber Liability Insurance
Surety Business Bonds
Inland Marine Insurance
Employers Liability Insurance
Employment Practices Liability Insurance
Environmental Liability Insurance
Errors and Omissions Insurance
Insurance Coverage & Advice by State
See more ...

By Business Type

Retail Store
Agriculture & Forestry
Construction
Manufacturing
Wholesale Trade
Retail Trade
Transportation & Warehousing
Information Industry
Finance & Insurance
Real Estate
Scientific & Technical Services

Auto & Vehicle Insurance

Car Insurance
Motorcycle Insurance
Boat Insurance
RV / Motorhome Insurance
ATV Insurance
Snowmobile Insurance
Personal Watercraft Insurance
Collectible Auto Insurance
Umbrella Insurance

Home & Property Insurance

Homeowners Insurance
Condo Insurance
Farm Insurance
Landlord Insurance
Renters Insurance
Mobile Home Insurance
Contents Insurance
Vacant Land Insurance
Flood Insurance

Other Insurance

Life Insurance
Long Term Care Insurance
Disability Insurance
Health Insurance
Special Event Insurance
Short-term / Sharing Insurance

Insurance Solutions & Resources

Compare Car Insurance
Compare Home Insurance

We'll Help You Find the Best Boat Insurance in Minutes

Our nationwide network of local independent agents is ready to help you find the perfect coverage at the best rate..

TrustedChoice.com Article

Boat icon. Senior man wearing fishing vest.

How will this quote help me?

Your quote is based on several common factors to give you a clear picture of the cost you can expect, though an independent agent can shop around and maybe even improve your rate!

NOTE: This quote is not final, though we did work with professional actuaries to help get you a ballpark figure to get started.

Do you have to have boat insurance on a boat?

Only two states require boat insurance by law, but there are a few instances where you may need it. If you dock your boat at a marina, they may require some form of coverage in order to protect their business. Also, if you finance your boat, nearly every lender will require coverage to protect their investment; use our list of the best boat insurance companies as a starting point.

Other than that, you should always have at least liability coverage on your boat to protect yourself against lawsuit costs if you cause bodily injury or property damage to another party. Property coverage is optional, but again, the more comprehensive your coverage, the better it can protect you.

How much is boat insurance?

The cost of any boat insurance policy depends on a number of factors, including your boat's size, value, and horsepower. Boat insurance policies can range from the low hundreds to tens of thousands of dollars annually, depending on what kind of coverage you need.

Do I need to insure my boat trailer?

Insuring your boat trailer is always a safe bet. Though your boat trailer may be protected by your home or car insurance policy, you can also add coverage to your boat insurance for your trailer. It's best to talk to your independent insurance agent about your boat, the trailer, and how you use it to determine the right coverage amount.

Does boat insurance cover passengers?

If your policy includes medical payments coverage, it will cover injuries to your passengers if you get into an accident. Medical payments coverage is an important option because just one accident can cause injuries that are extremely costly to treat.

Does boat insurance cover theft?

Typically, yes. But it's important to review your specific boat insurance policy with your independent insurance agent to make sure. Every carrier and every policy is different, but the more you know about your own policy, the better it will help protect you.

Does boat insurance cover hurricanes?

In most cases, yes, your boat will be covered against hurricane damage. But, as with any other natural disaster or unexpected event, you'll want to double-check your policy.

Does boat insurance cover engine damage?

No, boat insurance often excludes defective machinery or maintenance costs. Wear and tear is a natural outcome of use and not covered by your policy.

What is the cost difference in insuring different kinds of boats?

The size and value of your boat are two of the most impactful features on the cost of your coverage. Insurance for a $20,000 boat can cost an average of only $300 per year, while insuring a $2 million yacht can cost as much as $30,000 per year.

Does boat insurance cover me if I hit a rock?

If you have collision coverage on your boat insurance, you should be covered for the cost of repairs if you hit a rock.

Does boat insurance cover a blown engine?

In certain cases, boat insurance may cover a blown engine if the disaster was due to a listed peril. For example, ice and freeze damage to engines is typically covered. However, blown engines due to the owner's negligence are not covered.

BOAT INSURANCE

Find the perfect agent to shop multiple insurance companies on your behalf, saving you time and money.

Boat owners can experience a lot of joy and excitement brought by their watercraft, but they also have to anticipate potentially costly disasters ahead of time. Aside from accidents on the water, your boat is also vulnerable to theft, vandalism, flood damage, and more. That's what makes having boat insurance so critical.

An independent insurance agent can help protect your vessel with the right boat insurance long before you ever need to file a claim. But first, here's some boat insurance 101.

What Is Boat Insurance?

Boat insurance is designed to cover boat owners and their watercraft in case of many different disasters, including accidents, fire, and more. These policies are made to protect boats that have motors, like yachts, pontoon boats, etc., but they don't cover kayaks or canoes. Boat insurance is important because homeowners insurance doesn't provide enough coverage on its own for most watercraft.

Do You Have to Have Insurance on a Boat?

Only two states actually require boat insurance coverage , but there are a few situations where you may need it. First, if you dock your boat at a marina, they may require some form of coverage in order to protect their business. Second, if you financed your boat, nearly every lender will require coverage to protect their investment.

Further, there are certain types of boats that are more important to insure than others due to their value, risk level, and more. Here's a handy guide to whether you need boat insurance for your vessel.

Most often, boat insurance is purchased for:

Utility boats
Fishing boats
Pontoon boats

Despite all the fun to be had with a boat, accidents and disasters can happen. The easiest way to protect yourself and others, and get you back on the lake after a situation, is with the right boat insurance.

Best Boat Insurance Companies

While many carriers offer boat insurance, it's helpful to know some of the top names in the industry before you start shopping. Here are a few of our highest-recommended boat insurance companies.

An independent insurance agent can help you get the right boat insurance policy for you from one of these top-rated carriers, or another that best meets your needs.

Do I Need Boat Insurance?

The only two states that require boat insurance by law are Utah and Arkansas. Boat owners in these states must have coverage for personal watercraft or for powerboats with 50 horsepower or greater. Otherwise, if you live elsewhere and your boat is designated for personal use, you're not technically required to have insurance for it.

However, if you lease or otherwise finance your boat, you're likely to be required by your lender to carry boat insurance, and often you'll need both collision and comprehensive coverage. When docking your boat, you're often also required by the marina to have liability coverage. However, with boating accidents being so common, it's important to at least consider getting boat insurance for yourself.

Most Common Types of Boating Accidents

Notice that the top five causes of boating accidents are due to human error, such as inattention, improper lookout, alcohol use, and inexperience. Since you can't often blame the boat for an accident or other disaster, it's even more critical to ensure that your vessel is covered with the right insurance.

How Much Is Boat Insurance?

The average annual cost of boat insurance ranges from $200 to $500 depending on the type of boat you have and other factors. It also depends on which types of coverage you need, and how much coverage you need. For folks who only purchase liability coverage, you might pay less than $100 annually.

Often, you can expect the annual cost of your boat insurance to be about 1.5% of the value of your boat. For example:

$20,000 boats cost about $300 annually to insure
$50,000 boats cost about $750 annually to insure
$100,000 boats cost about $1,500 annually to insure
$500,000 boats cost about $7,500 annually to insure
$2 million boats, like yachts, cost about $30,000 annually to insure
If you are looking for boat insurance for older boats , costs will vary significantly

The cost of your boat insurance might not be this simple to figure out, though. For more help calculating the cost of your premiums, use our boat insurance calculator or reach out to an independent insurance agent for a quote.

What Factors Influence Boat Insurance Costs?

Like any form of coverage, boat insurance costs depend on several factors, including:

The make, model, and value of your boat

Your boat's make, model, and value influence the cost of boat insurance because the more expensive your boat is to replace or repair, the more expensive your coverage must be. If your boat is valued at less than $20,000, you will pay approximately the average cost in your state. If your boat is valued above $500,000, you might pay up to 2,250% of the average cost in your state.

Your boat's length

Boat insurance costs also depend on the length of your boat. Be prepared to pay about 66% more for your coverage if your boat is 100 feet or longer, but if your boat is less than 20 feet, you may pay 12% less than average rates in your state.

Your boating records

If you've had six or more accidents or violations within the past five years, you can expect a 90% increase in your boat insurance premiums. However, if you've had no incidents during this time, you can expect a 40% decrease in your boat insurance premiums.

Your location

Boat insurance premiums vary considerably by the state you live in. Many factors can influence insurance costs by location, including crime rates, property values, and more.

How you use your boat

Depending on the risk level of the activities you perform with or on your boat, your premiums may be higher or lower. Using a boat for towing can be riskier than using it just for fishing, so boats used for fishing would be likely to have lower boat insurance premiums.

How often you use your boat

Similar to auto insurance, how often you use your boat can also influence your boat insurance rates, because the more you use it, the more likely an accident or other disaster is to occur. For boats that only get taken out on occasion, premiums for boat insurance can be much lower than those that get used daily on the water.

An independent insurance agent can provide you with quotes for boat insurance from several carriers near you.

What Discounts on Boat Insurance Exist?

Many insurance companies offer several discounts on boat insurance to help lower the cost of your premiums. Here are just a few common boat insurance discounts:

Boater safety course discount: You might qualify for a discount on boat insurance if you complete a state-approved boater safety course.
Bundling discount: Many insurance companies offer discounts if you bundle your boat insurance with another policy through them, such as auto insurance or home insurance.
Paid-in-full discount: Many insurance companies lower your overall premium if you pay for your entire year's worth of coverage up-front.
Homeowners discount: Some insurance companies even offer discounts on your boat insurance just for being a homeowner, even if your coverage is not through the same carrier.
Clean boating history discount: You're likely to be rewarded with a boat insurance discount by many carriers if you've maintained a clean, accident and violation-free boating record.

Your independent insurance agent is a great ally in helping you find any discounts you may qualify for on boat insurance, no matter which carrier you go through.

What Does Boat Insurance Cover?

Boat insurance provides a lot of important protection, not only for your boat, but also for you, your passengers, and everyone else on the water or at the marina. Boat insurance typically includes the following primary coverages:

Personal property damage: Provides reimbursement for your boat, trailer, and engine if they're damaged by a covered peril like vandalism, fire, etc.
Medical payments: Provides reimbursement for treatment of injuries to you and your passengers who get hurt by your boat or while on your boat.
Property damage liability: Provides reimbursement of property damage lawsuit costs from third parties due to your boat.
Bodily injury liability: Provides reimbursement for injuries to anyone who gets physically harmed by your boat.

The following coverages are commonly added to standard boat insurance:

Uninsured/underinsured boaters: Covers injury expenses if the other boater is responsible but doesn’t have any, or enough, insurance to cover your expenses.
Fishing equipment: Sometimes included, you'll be reimbursed up to a certain limit, like $1,000.
Water sports liability: Some policies exclude water sports from your liability coverage and some don't, but this coverage is important if you'll be doing stunts, etc.
Emergency assistance on the water: Also known as boat towing insurance, coverage provides water towing and other assistance services through a maritime dispatch center.
Roadside assistance for your boat and trailer: This coverage guarantees that the towing company will take your vehicle, boat, and trailer to the nearest facility if you get stranded on the road.

If you have questions or concerns based on your plans on the water, it's best to talk to your independent insurance agent. They can help you find and increase coverage so that it works best for you.

Important Additional Coverages for Boats

Beyond the common coverages, it's always recommended to consider additional coverages that can help tailor the policy to your unique risks. Here are several optional boat insurance coverages worth considering:

Collision: Provides coverage for collisions between your watercraft and other vessels or objects. You're also covered if your boat capsizes on the water.
Comprehensive: Covers other disasters beyond collision like theft, vandalism, storm damage, and more.
Hurricane hauling services: Covers the cost of moving your watercraft out of the county where it's docked in case of emergency.
Personal property coverage: Personal property is usually covered under your homeowners policy, even when the boat isn't at your house. However, your deductible is often higher, so you can add personal property coverage on your boat policy to avoid a homeowners claim.
Wreckage and fuel removal: Reimburses cost to recover or destroy wreckage and fuel if you get in an accident.
Replacement cost or agreed value: Newer and more expensive boats can be insured for agreed value, which means you'll recover the full amount you paid for it, without depreciation.
Pet coverage: If you boat with a pet on board, this provides up to $1,000 towards veterinarian fees if they're injured on the boat.

An independent insurance agent can recommend the additional boat insurance coverages that are a good match for you.

What Is Boat Rental Insurance Coverage?

Boat rental insurance is often required by boat rental companies to protect against lawsuits that may arise when you operate a rented vessel. If a third party sues you for claims of bodily injury or property damage when you're operating a rented boat and you don't have boat rental insurance, you'll have to pay out of pocket for your defense and settlement costs.

What Boat Insurance Will Pay For

Before settling on a boat insurance policy, it's important to understand just what it will reimburse you for and what it won't. Here's a breakdown for further clarification.

If you still have questions about what's covered or not covered by boat insurance, your independent insurance agent can help.

Finding Discounts and Savings on Boat Insurance

Fortunately, there are typically several discounts available for boat insurance. While options vary by insurance company, here are some common discounts:

No claims history discount: If you've never filed a claim on your boat insurance, your carrier is likely to reward you with a discount over time.
Diesel-powered boat discount: Some boat insurance companies offer discounts for watercraft with diesel-powered engines.
Safety course discount: You might be eligible to receive a discount on your boat insurance if you complete a state-approved safety course.
Bundling discount: Often you can save money on boat insurance if you bundle it with another type of coverage, such as home insurance, through the same carrier.

An independent insurance agent is your greatest ally when it comes to finding discounts on boat insurance.

Why Choose an Independent Insurance Agent?

Independent insurance agents simplify the process by shopping and comparing insurance quotes for you. Not only that, but they’ll also cut through the jargon and clarify the fine print so you know exactly what you’re getting.

Independent insurance agents also have access to multiple insurance companies, ultimately finding you the best boat insurance, accessibility, and competitive pricing while working for you.

More Choices

Our independent insurance agents work for you, not the insurance companies. That means you always get the best coverage options to choose from.

Better Prices

When you have options from multiple companies, it's easier to find the best coverage at the right price, at no extra cost to you.

Local Services

There's an independent agent in every city who always understands the insurance coverage you need most based on local laws and needs that apply to you.

What our customers are saying

Work Done For Me

I looked at different individual companies, but it was so time-consuming to fill out each individual application and keep track of them all. Trusted Choice got back to me quickly and gave me an option that worked. I ended up with Travelers, which has a great price. The online process was pretty easy. Plus, they did the legwork for me. It was a great experience.

Multiple Options

I tried finding insurance myself but I wasn't coming up with very much. I contacted Trusted Choice and they looked at various options and presented it to me. Everything with the agent went very smoothly... He knew exactly what we wanted and searched accordingly. I was able to choose the one that I thought was best so it worked out for me. I'm happy that I did it that way.

I needed insurance for the home that I was buying and based on the pricing, I went with Trusted Choice. The process was all done online and I didn't really have to do too much. The website was also easy to use and navigate and it was not overly intimidating. Everybody that I've dealt with also seemed good and professional. It was a positive experience.

One-On-One Attention

Every year I search for insurance to make sure that I’m getting the best bang for my dollar. I went with an independent agent because if I go through them, I get that one-on-one instead of being just a number.... The experience was great.

Really Helpful

TrustedChoice.com was real helpful when I needed to get insurance. The agent gave me the basics of what I'd be getting if I got insurance with them.

Multiple Agents

I needed a different independent agent to get insurance and I went with Trusted Choice. Their website was helpful in connecting me to two or three other agents that I was able to speak to. Their site did what I needed.

More Coverage

Trusted Choice's online process is super easy. They pulled most of the information and I ended up going with one of their recommendations. Aside from them, everybody else was too expensive. Plus, the Trusted Choice agent offered more coverage.

Great Match

Everybody at TrustedChoice.com was helpful and pleasant. They set us up with a great match and gave us our best option and price.

Best Coverage and Rates

I did a lot of searching for insurance and I went with a Trusted Choice agent because they provided the best rates and coverage. I haven't had a claim but I know I'm covered and that's good news. I would recommend Trusted Choice.

When you use links on our website, we may earn a fee.

Cheapest Full Coverage Car Insurance of 2024

Table of Contents

Best Cheap Full Coverage Car Insurance

What is Full Coverage Car Insurance?

What's Included?

Key Takeaways

State Farm stands out as the most affordable option for full coverage car insurance, offering competitive rates and high customer satisfaction ratings.
Your demographic could change which insurer is the cheapest for you. For example, Geico is the most affordable option for seniors and families with multiple vehicles, but State Farm is ideal for teenagers and high-risk drivers.
When purchasing car insurance, consider the types of coverage available, potential premium costs, policy exclusions, and discounts you may qualify for to make an informed decision best suited to your needs.

While full coverage car insurance is a commonly used phrase, there’s no one-size-fits-all definition in the auto insurance industry. Instead, this coverage refers to several protections for your vehicle, including liability, comprehensive, and collision coverage that exceeds the state minimum requirements.

The best cheap full coverage car insurance companies provide cost-effective coverage that helps drivers meet state coverage requirements. It also helps lenders if they finance or lease the vehicle.

In this guide, we'll look at the most affordable full coverage car insurance providers and highlight those offering their customers the best benefits and perks.

Best Overall Cheap Full Coverage Car Insurance: State Farm »
Best for Seniors: Geico »
Best for Teenage Drivers: State Farm »
Best for Families with Multiple Cars: Geico »
Best for High-Risk Drivers: State Farm »

Best Overall: State Farm

Some of the lowest sample rates for full-coverage car insurance available

High customer satisfaction scores

Can’t buy coverage online; must work with local agent

New policies aren’t available in Massachusetts

State Farm is one of the largest providers of consumer insurance in the United States – particularly auto insurance – and it regularly ranks at the top of J.D. Power surveys for customer satisfaction. It also has some of the cheapest sample rates for a full-coverage policy, based on our research: $1,279 per year versus national average of $1,556 per year. Only USAA’s average rates are lower, but their coverage is only available to members of the military and their families.

When it comes to cheap full coverage auto insurance, State Farm offers users an easy, accessible option to get the coverage they need to meet the requirements of their states and/or lenders. While users can’t bind coverage online, State Farm has a nationwide network of agents standing by to help customers find the coverage they need, answer any questions, and service existing policies.

Coverage types:

Collision
Comprehensive
Liability
Car rental and travel expenses
Uninsured motor vehicle
Medical payments
Emergency road service
Rideshare driver

Deductibles :

Additional coverage options:

Motorcycle insurance
Boat insurance
Motorhome insurance
Off-road vehicle insurance

Discounts and savings:

Drive Safe & Save
Steer Clear
Accident-free
Defensive driving course
Good driver

Financial stability:

A++ (Superior) rating from AM Best

Best for Seniors: Geico

Some of the cheapest rates on average for men and women

Numerous discounts available

Drivers with a DUI on their records may find lower rates elsewhere

Among other carriers, Geico stands out in providing cheap full coverage for senior drivers. Geico averages just $1,134 annually for full coverage, compared to the national average of over $1,300 per year. Numerous discounts are also available which often help senior drivers specifically, including customer loyalty and going five years or more without an accident.

However, it’s worth noting that although Geico’s sample rates are relatively low for many drivers, our research finds that’s not always the case. For drivers who have a DUI on their records, Geico’s sample yearly rate is actually higher than the national average.

Bodily injury
Property damage
Uninsured motorist
Comprehensive
Medical
Emergency roadside assistance
Rental reimbursement
Mechanical breakdown
Motorcycle/ATV
Collector Auto
Mexico Auto
Air bag
Anti-lock brakes
Anti-theft system
Daytime running lights
New vehicle
Five-year accident-free good driver
Seat belt use
Defensive driving
Driver's education
Good student
Emergency deployment
Federal employee
Military
Multi-vehicle
Multi-policy

Annual Rates for Senior Female Drivers

Annual rates for senior male drivers, best for teenage drivers: state farm.

Sample rates for male and female teens are lower than the national average

Multiple discounts available for young drivers and students

Must work with agent to receive quote, purchase policy

Doesn’t do business in Massachusetts

State Farm’s sample rates for male and female teen drivers are: $3,280 per year for 17-year-old women and $4,019 per year for same-aged males. That’s lower than the national averages. And the company offers numerous discounts for young drivers and students, including Steer and Clear, where drivers 25 and under can save on their premiums by taking a safety course and maintaining a clean record for three years.

Unlike some companies, you must work with a local agent to get a quote and buy coverage, something that may or may not appeal to younger drivers who are accustomed to doing everything online. State Farm has agents nationwide, though it doesn’t write new auto policies in Massachusetts.

Average Annual Car Insurance Premiums For 17-Year-Olds

Note that HI is not included since their rates don't vary by demographic.

Best for Families with Multiple Cars: Geico

Average annual rate for good drivers is lower than many competitors

Can buy coverage online or by phone

Some drivers may find lower rates with other insurers

For drivers who want full coverage, Geico has some of the lowest annual rates: $1,250 per year versus the national average of $1,556 per year. The company also has competitive rates for teen drivers, drivers with poor credit, people seeking a minimum-coverage policy, and more. As with all sample rates, the amount you pay will be different and vary based on many factors, including each family member’s driving record.

Unlike some insurers we looked at, Geico allows customers to get a quote and purchase a policy online, which some people may appreciate, but you can also speak with a company representative to complete the transaction

Geico also earns great ratings from J.D. Power for usage-based coverage – wherein you agree to have your driving habits monitored by an app in exchange for lower rates – tying with Progressive and State Farm for top honors in the category. This may be beneficial for families with multiple cars that aren’t all consistently used throughout the year, or families where some members may not drive frequently or far from home.

Collector auto
Mexico auto
Five-year accident-free good driver
Federal employee

Best for High-Risk Drivers: State Farm

Offers coverage specifically aimed at high-risk drivers

Excellent ratings for customer service and claims handling

Must work with an agent to bind coverage

High-risk drivers can have trouble finding full auto coverage, particularly from some of the larger insurers. State Farm is one of the few major insurance companies we looked at that offer a policy geared toward high-risk drivers. It also has some of the lowest rates on average for drivers with a speeding ticket , accident, or DUI on their record. In addition, State Farm earns high marks for customer service, based on a policyholder survey we conducted as part of our Best Car Insurance Companies rating.

State Farm offers new policies in every state except Massachusetts. Unlike some insurers, customers must work with a local agent to get a quote or purchase coverage.

Some high-risk drivers may be required to have their insurer file an SR-22 form on their behalf. Contact a State Farm agent for details on how to do this.

A++ rating (Superior) from AM Best

Annual Rates for Drivers With Full Coverage

Learn more about our rating of the Cheapest Car Insurance Companies.

The Bottom Line

For drivers who lease or finance their vehicles – or who live in states with mandated coverage minimums – full-coverage insurance helps protect the value of their car as well as potential liabilities if they get in an accident. The best cheap full coverage car insurance companies help drivers secure liability, comprehensive, and collision insurance to protect themselves, their vehicles, and other drivers on the road.

Full coverage car insurance is a comprehensive policy providing extensive protection for your vehicle. It is not a specific policy offered by insurers; however, it represents a combination of coverages beyond the minimum amount required by law. Full coverage policies can vary based on your insurance provider and the coverage you elect.

You may want to consider a full coverage policy if you own or lease a new or high-value car. Bear in mind that this level of coverage often comes at a higher cost, so you’ll want to weigh if full coverage benefits are worth the price.

What's Included in a Full Coverage Insurance Policy?

Full coverage auto insurance provides the highest level of protection for your vehicle. Typically, it’ll consist of three coverages:

Collision insurance. Collision coverage pays for damages to your vehicle when it collides with another object such as a lamp post, mailbox, or car.
Comprehensive insurance. Comprehensive coverage kicks in when your vehicle has damages from something other than a collision. It would apply if a tree branch falls on your windshield, a fire, or a weather-related disaster damages your car, for example.
Liability insurance. Your liability coverage includes bodily injury liability and property damage liability. This financially protects you if you’re at fault in an accident by paying for a third party’s property damage, medical bills, and more.

Some full coverage policies will include additional coverages depending on the company and state minimum requirements. Common additions include uninsured/underinsured motorist coverage, personal injury protection (PIP), and medical payments (MedPay).

What Isn’t Included in a Full Coverage Insurance Policy?

While full coverage insurance includes various levels of protection, it isn’t all-inclusive. There are numerous limitations where the policy won’t pay for expenses, such as:

Regular maintenance
Wear and tear
Racing incidents
Committing intentional damage to your car
Damages and injuries from driving under the influence
Personal belongings inside the vehicle

Understanding what your policy covers is important, so check with your insurer for clarification.

Compare Car Insurance Quotes

Get free personalized quotes with one simple form.

Factors To Consider When Buying Car Insurance

When shopping for car insurance, there are key factors to consider so you get the appropriate amount of coverage for your needs and budget, including:

Coverage types . Insurance companies often specialize in different types of coverage, including collision, liability, and comprehensive. Many insurers also offer other types of coverage as well, including home or renters insurance, with potential discounts for buying multiple types of coverage.
Premiums and deductibles . Different insurance companies offer higher or lower premiums based on location, vehicle, and driver. Drivers can also often choose higher or lower deductibles, which come with lower or higher premiums.
Policy exclusions. Almost all insurance policies exclude coverage for certain types of perils. However, these exclusions typically aren’t advertised publicly, so you’ll need to review policy documents before you bind coverage.
Discounts and benefits . Most insurers offer discounts for bundling multiple policies if you get home or renters coverage in addition to auto insurance, and some offer specialized discounts for students, safe drivers, hybrid or electric vehicles, and others.

Is Full Coverage Car Insurance Right for You?

Full coverage may be the right choice if you own a new or highly valued vehicle. A full coverage policy can provide comprehensive coverage from various incidents, including accidents, theft, and vandalism. However, if your car is an older model with a lower value, the cost of full coverage may outweigh the benefits , as premiums can be high.

A full coverage policy may also be a good option if you’re leasing or financing your car, as lenders often require this level of coverage. Finally, if you prefer the peace of mind that comes with full coverage, particularly in keeping you from potential out-of-pocket costs in certain circumstances, it may be the right choice for you.

Based on our research, State Farm has the best cheap full-coverage car insurance. While Geico offers the lowest rates, State Farm has the best customer ratings and coverage overall.

Full coverage car insurance insurance can be costlier because it includes comprehensive and collision insurance. These offer more protection, so insurers charge high premiums in return. However, you can still find more affordable full coverage insurance with companies such as State Farm and Geico.

Every driver can benefit from full-coverage insurance, but this type of coverage is particularly important for drivers who have financed or leased a car or who live in a state that has mandated minimums for certain types of coverage.

Most insurers allow policyholders to add multiple cars and/or drivers under the same policy. Some insurers even offer discounts for having multiple cars or drivers.

Whether your auto insurance extends to another driver operating your vehicle depends on the policy you buy and the insurer you use. It can also depend on the driver, whether they’re related to you, live with you, or other factors.

Most carriers recommend reviewing your auto insurance coverage at least annually. However, it’s also important to review and update your coverage as your needs change – for example, if you get a new car or need to add or remove a driver from your policy.

How We Chose the Best Car Insurance

To find the best cheap full coverage auto insurance companies, we started by reviewing a list of companies that offer full auto coverage nationally. We then reviewed average rates that providers charge for full coverage, based on our research. We also reviewed company rates, benefits, and rates for various types of drivers to find the best companies for various types of drivers and vehicles.

WHY SHOULD YOU TRUST US?

At U.S. News 360 Reviews, our contributors and editors have years of experience researching and reviewing complex financial topics including various types of auto insurance. Dock David Treece , the author of this piece and a contributor for 360 Reviews, has more than two decades of experience in the finance industry. He has covered insurance and other financial topics for Forbes, Investopedia, Business.com, and other publishers. He has also written for several insurers, including Progressive.

Methodology - How We Collected Our Car Insurance Rates

Please note that the information provided on this website is for general informational purposes only and does not, and is not intended to, constitute legal advice.

U.S. News 360 Reviews takes an unbiased approach to our recommendations. When you use our links to buy products, we may earn a commission but that in no way affects our editorial independence.

Get free personalized quotes in minutes.

No spam. No hidden fees.

Vacation Rentals
Restaurants
Things to do
Elektrostal Tourism
Elektrostal Hotels
Elektrostal Bed and Breakfast
Flights to Elektrostal
Elektrostal Restaurants
Things to Do in Elektrostal
Elektrostal Travel Forum
Elektrostal Photos
Elektrostal Map
All Elektrostal Hotels
Elektrostal Hotel Deals
Elektrostal Hostels
Elektrostal Business Hotels
Elektrostal Family Hotels
Elektrostal Spa Resorts
3-stars Hotels in Elektrostal
Elektrostal Hotels with Banquet hall
Elektrostal Hotels with Game room
Hotels near Electrostal History and Art Museum
Hotels near Park of Culture and Leisure
Hotels near Statue of Lenin
Hotels near Museum and Exhibition Center
Hotels near Museum of Labor Glory
Hotels near (ZIA) Zhukovsky International Airport
Hotels near (VKO) Vnukovo Airport
Hotels near (DME) Domodedovo Airport
Disney's Caribbean Beach Resort
Hotel Riu Republica
Excalibur Hotel & Casino
Hyatt Ziva Cap Cana
The Mirage Hotel & Casino
Wyndham Alltra Cancun
Dreams Macao Beach Punta Cana
The Westin Reserva Conchal, an All-Inclusive Golf Resort & Spa
Barcelo Bavaro Palace All Inclusive Resort
Hilton Cancun, an All-Inclusive Resort
Dreams Jade Resort & Spa
Disney's Coronado Springs Resort
Luxor Hotel & Casino
Grand Hyatt Baha Mar
Westgate Las Vegas Resort & Casino
Popular All-Inclusive Resorts
Popular Beach Resorts
Popular Family Resorts
Popular All-Inclusive Hotels
Popular Hotels With Waterparks
Popular Honeymoon Resorts
Popular Luxury Resorts
Popular All-Inclusive Family Resorts
Popular Golf Resorts
Popular Spa Resorts
Popular Cheap Resorts
All Elektrostal Restaurants
Restaurants near Restaurant Globus
Cafés in Elektrostal
Chinese Restaurants in Elektrostal
European Restaurants for Families in Elektrostal
European Restaurants for Large Groups in Elektrostal
European Restaurants for Lunch in Elektrostal
Fast Food Restaurants in Elektrostal
French Restaurants in Elektrostal
Italian Restaurants in Elektrostal
Japanese Restaurants in Elektrostal
Pizza in Elektrostal
Russian Restaurants in Elektrostal
Seafood Restaurants in Elektrostal
Vegetarian Restaurants in Elektrostal
GreenLeaders
Elektrostal
Things to Do
Travel Stories
Rental Cars
Add a Place
Travel Forum
Travelers' Choice
Help Center
Europe
Russia
Central Russia
Moscow Oblast
Elektrostal
Elektrostal Restaurants

Restaurant Globus

Ratings and reviews, location and contact, restaurant globus, elektrostal - restaurant reviews & photos - tripadvisor.

Health Insurance
Best Short-Term Health Insurance Companies

Best Short-Term Health Insurance Companies Of 2024

Fact Checked

Published: Mar 4, 2024, 4:31am

Everest Flex Term Health Insurance is the best short-term health insurance and is especially excellent for low out-of-pocket costs compared to competitors in our analysis.

Short-term health insurance is inexpensive, temporary coverage that can help pay for medical care if you have a gap in your insurance, such as after losing a job. Short-term plans have low premiums but don’t offer the comprehensive coverage found in standard health insurance policies.

Why you can trust Forbes Advisor

Our editors are committed to bringing you unbiased ratings and information. Our editorial content is not influenced by advertisers. We use data-driven methodologies to evaluate insurance companies, so all companies are measured equally. You can read more about our editorial guidelines and the methodology for the ratings below.

75 short-term health insurance quotes analyzed
40 short-term coverage data points evaluated
96 years of insurance experience on the editorial team
Best Affordable Health Insurance
Best Dental Insurance
Best Health Insurance
Best Disability Insurance
Best Health Insurance for Small Businesses
Best Vision Insurance

Summary: Best Short-Term Health Insurance Ratings

What is short-term health insurance, short-term health insurance laws by state, what does short-term health insurance cover, pros and cons of short-term health insurance, how much does short-term health insurance cost, who is eligible for short-term health insurance, how to choose the best short-term health insurance plan for you, cobra vs. short-term health insurance, methodology, next up in health insurance, the best short-term health insurance companies .

Here are Forbes Advisor’s picks for the best short-term health insurance companies of 2024:

UnitedHealthcare, Copay Select Max – Best for Prescription Drug Benefits
Pivot Health, Epic Base – Best for 0% Coinsurance Option
Everest, Flex Term Health Insurance – Best for Low Out-of-Pocket Costs
UnitedHealthcare, Hospital & Surgical – Best for Provider Network
UnitedHealthcare, TriTerm Value – Best for Coverage Maximum
Pivot Health, Pivot Health Choice – Best for Low Deductible Option
Pivot Health, Pivot Health – Economy – Best for Low Premiums

BEST FOR PRESCRIPTION DRUG COVERAGE

Unitedhealthcare copay select max.

Coverage maximum options

$2 million lifetime

Deductible options

$2,500, $5,000, $7,500, $10,000, $12,500

Coinsurance options

UnitedHealthcare has a provider network of 1.4 million physicians and health care professionals, and over 6,500 hospitals and medical facilities. Its Copay Select Max policy offers prescription drug benefits, which isn’t standard in many short-term health insurance plans.

Related: UnitedHealthcare Health Insurance Review

Offers prescription drug benefits.
Wide provider network of UnitedHealthcare-contracted medical professionals, hospitals and facilities.
Lifetime coverage maximum of $2 million is more generous than competitors.
You can also buy dental and vision coverage through UnitedHealthcare.
UnitedHealthcare is one of the largest health insurance companies.
More expensive than competitors.
Coinsurance level is higher than other companies.

UnitedHealthcare is the world’s largest health insurance company based on net premiums written, according to AM Best. The insurer offers coverage through the employer-sponsored health insurance plans, Affordable Care Act marketplace, Medicare Advantage and short-term health insurance. UnitedHealthcare has a large provider network of 1.5 million providers and 7,000 hospitals and facilities.

Copay Select plans have a $25 copay for common (Tier 1) prescriptions with higher tiers costing more, as much as 50% coinsurance costs after you meet your deductible for Tier 4 prescriptions.

The insurance company also offers other types of coverage, including critical illness insurance, hospitalization insurance, dental insurance and vision insurance.

BEST FOR 0% COINSURANCE OPTION

Pivot health epic base.

$500,000 or $1 million

$5,000, $10,000, $15,000, $20,000

Coinsurance option

Pivot Health’s Epic Base policy combines low costs and 0% coinsurance with the chance to buy optional prescription drug coverage.

One of the cheapest short-term health insurance policies in our analysis. Pivot Health’s Economy and Choice plans were the only ones with lower average rates, but those plans don’t have prescription drug benefits and have a higher coinsurance levels than the Epic Base policy.
0% coinsurance means you won’t pay for health care services covered by the policy after you reach your deductible and before you meet the plan’s coverage maximum.
Prescription drug benefits are possible.
Low- or no-cost telehealth.
You can get coverage by the next day if you qualify for a plan, according to Pivot Health.
Coverage maximum of $500,000 or $1 million is lower than competitors.
One of the deductible options ($20,000) is higher than other companies, which means higher out-of-pocket costs if you choose that deductible.
Prescription drug benefits have a $2,000 coverage maximum for short-term plans that are over six months long.

Pivot Health’s HealthCare.com, not to be confused with the government’s Healthcare.gov, allows you to buy coverage, including short-term health insurance, Affordable Care Act marketplace coverage and Medicare Advantage. Pivot Health has over 72,400 members.

Pivot Health says it approves short-term coverage within five minutes for those who qualify. Pivot short-term health insurance plans offer low-cost or free 24/7 telehealth visits. Some short-term plans cover preventive care, such as childhood immunizations and preventive cancer screenings.

Beyond health insurance, Pivot Health offers dental insurance, vision insurance, accident insurance, cancer, critical illness, travel medical and pet insurance.

BEST FOR LOW OUT-OF-POCKET COSTS

Everest flex term health insurance.

$250,000, $750,000, $1 million, $1.5 million

$1,000, $2,500, $5,000, $7,500, $10,000

0%, 20%, 30%, 50%

Everest’s Flex Term Health Insurance policy has excellent prices for short-term health insurance and offers more coverage maximum, deductible and coinsurance options than competitors.

Better-than-average short-term health insurance costs.
Four coinsurance options, including 0% coinsurance.
Five deductible options.
Four coverage maximum options, including as high as $1.5 million.
Doesn’t typically offer prescription drug benefits unless if you’re hospitalized.

Everest offers property/casualty and speciality reinsurance and insurance in over 100 countries.

Everest’s short-term health insurance doesn’t cover some pre-existing conditions, including prescriptions, unless they’re administered during a hospitalization that’s covered by the health plan.

Everest provides short-term health insurance plans in Alabama, Arizona, Arkansas, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Mississippi, Missouri, Nebraska, Nevada, North Carolina, Ohio, Oklahoma, Oregon, South Carolina, South Dakota, Tennessee, Texas, Virginia, West Virginia, Wisconsin and Wyoming.

BEST FOR PROVIDER NETWORK

Unitedhealthcare hospital & surgical.

$5,000, $7,500, $10,000, $12,500, $15,000

The cheapest UnitedHealthcare short-term plan, the Hospital & Surgical policy provides access to the insurance company’s large provider network and a generous $2 million lifetime coverage maximum.

Competitive short-term health plan insurance premiums.
You can get care from UnitedHealthcare-contracted medical professionals, hospitals and facilities.
Doesn’t cover prescription drugs except in specific cases, such as cancer care.
Higher coinsurance rates than competitors, which means higher out-of-pocket costs.

UnitedHealthcare is the world’s largest health insurance company based on net premiums written, according to AM Best.

The company offers coverage through the employer-sponsored health insurance plans, Affordable Care Act marketplace, Medicare Advantage and short-term health insurance. UnitedHealthcare has a large provider network of 1.5 million providers and 7,000 hospitals and facilities.

Its Hospital & Surgical plans have a $75 copay for two urgent care visits per year. Additional visits are subject to your plan’s deductible and coinsurance. Emergency room visits, inpatient care and outpatient labs and X-rays are all subject to a deductible and coinsurance. There aren’t copays for those visits.

BEST FOR COVERAGE MAXIMUM

Unitedhealthcare triterm value.

$2,500, $5,000, $7,500, $10,000, $12,500, $15,000

The TriTerm Value policy offers six deductible options, including one as low as $2,500, and lets you get care through UnitedHealthcare-contracted medical professionals and facilities.

More deductible options than competitors.
UnitedHealthcare has a large provider network.
Up to $200 preventive care coverage per year, per person.
Preventive child immunizations are exempt from the TriTerm Value’s deductible, coinsurance and copays.
More expensive average short-term health plan premiums than some competitors.
Higher-than-average coinsurance levels.
No prescription drug benefits, but you can get a discount card.

The insurance company offers health insurance through the employer-sponsored health insurance plans, Affordable Care Act marketplace, Medicare Advantage and short-term health insurance. The company has a provider network of 1.5 million providers and 7,000 hospitals and facilities.

UnitedHealthcare also provides other types of insurance, including critical illness insurance, hospitalization insurance, dental insurance and vision insurance.

BEST FOR LOW DEDUCTIBLE OPTION

Pivot health choice.

$100,000, $250,000, $500,000 or $1 million

$1,000, $2,000, $5,000 or $10,000

The Pivot Health Choice policy offers excellent average short-term health insurance rates.

Great average short-term health insurance rates.
$1,000 deductible option is better than other short-term policies.
$250 emergency room copay (unless you are admitted) is cheaper than other Pivot Health plans except the Deluxe policy.
No prescription drug benefits, though you can get a discount card to reduce your prescription drug costs.
The highest coverage maximum limit is lower than competitors.
Lower coinsurance levels than competitors.

Pivot Health’s website HealthCare.com allows you to buy coverage such as short-term health insurance, Affordable Care Act marketplace coverage and Medicare Advantage. Pivot Health has over 72,400 members. This is different from the federal government’s Healthcare.gov.

Pivot Health’s short-term health insurance plans have low-cost or free 24/7 telehealth visits. Some short-term plans cover preventive care, such as childhood immunizations and preventive cancer screenings. The insurer says it approves short-term coverage within five minutes for those who qualify.

Pivot Health offers other types of insurance, including dental insurance, vision insurance, accident insurance, cancer, critical illness, travel medical and pet insurance.

BEST FOR LOW PREMIUMS

Pivot health economy.

$3,000, $5,000, $7,500 or $10,000

The Pivot Health Economy policy has the lowest average short-term health insurance costs of the plans we analyzed.

This plan has the cheapest average short-term health insurance costs among policies we evaluated.
Highest deductible option ($10,000) is better than many competitors.
Low coverage maximum limit ($1 million) compared to competitors.
Doesn’t provide prescription drug benefits, but you can get a discount card.
Coinsurance levels are lower than other short-term health plans.
$450 emergency room copay (unless you are admitted to the hospital) and $500 copay at an outpatient surgical facility.

Pivot Health’s HealthCare.com, which is different from the government’s Healthcare.gov, lets you buy coverage like short-term health insurance, Affordable Care Act marketplace coverage and Medicare Advantage. Pivot Health has over 72,400 members.

Pivot Health says it approves short-term coverage within five minutes for those who qualify. Pivot short-term health insurance plans provide low-cost or free 24/7 telehealth visits; some short-term plans cover preventive care, including childhood immunizations and preventive cancer screenings.

Pivot Health also offers dental insurance, vision insurance, accident insurance, cancer, critical illness, travel medical and pet insurance.

Premiums reflect the average for a 30-year-old woman who is a nonsmoker for the three lowest quotes in these cities: Orlando, Florida, Phoenix and El Paso, Texas.

Short-term health insurance offers limited coverage for up to 12 months in most states, with the chance to extend the plan for another two years. Some states don’t allow short-term plans or restrict the length of coverage.

The Biden administration announced in July 2023 that it plans to restrict short-term health insurance to only three months with the option to expand coverage for a fourth month.

Short-term health insurance plans aren’t regulated by the Affordable Care Act (ACA) , so they can deny policies to people based on pre-existing conditions and they don’t have to cover the minimum “essential health benefits” mandated by the law. ACA benefits that are standard in regular and best health insurance include inpatient and outpatient care, mental health services, prescription drug coverage and maternity care. Since short-term plans don’t have to offer this coverage you may have trouble finding a short-term health plan that does.

Short-term health insurance plans also generally have caps on how much the insurer will pay for certain services or in total.

The federal government currently allows insurance companies to offer short-term health insurance for 12 months with the option to increase coverage for 36 months, but some states ban short-term coverage or limit coverage to shorter periods.

Short-term health insurance plans don’t have to follow ACA rules, which means there can be a significant difference between what one short-term plan may cover compared to another short-term plan.

Short-term health insurance plans may cover:

Preventive care
Urgent care
Emergency care
Doctor visits

While standard health insurance covers maternity maternity, mental health and substance use care, short-term plans often exclude those coverages.

Another issue is prescription drug benefits. These benefits are standard in a regular health insurance plan, but short-term health insurance companies can decide whether to cover prescription drugs. Short-term plans that don’t offer prescription drug benefits may provide a discount card. In those cases, the insurer doesn’t help pay for medications, but you might be able to get a lower drug price than if you didn’t have the discount card.

You’ll want to check the short-term health policy details to understand what’s covered and the coverage maximums, restrictions and exclusions.

Advocates trumpet short-term health insurance as an affordable option, but detractors call the plans junk health insurance because they lack many coverages found in regular health insurance. There are also potentially high costs if you need care. Understand the pros and cons before buying short-term insurance.

You can apply for a short-term plan at any time and don’t have to wait for open enrollment .
If approved, you can get coverage quickly, as soon as the next day.
You may have more flexibility to decide on your out-of-pocket costs compared to a standard health insurance plan.
Typically doesn’t include coverage that is in standard health insurance plans.
Plans come with coverage caps.
Generally doesn’t cover pre-existing conditions.
You can be denied a policy.
You can have a short-term health plan only for a limited time.

Who Can Benefit From Short-term Health Insurance?

A short-term health insurance plan might make sense if:

You can’t find affordable health insurance anywhere else.
You will soon have health insurance , such as starting a new job, but want an emergency stopgap until then.
You were recently laid off and can’t afford COBRA insurance . COBRA lets you extend your previous group health insurance but without financial help from your former employer, leading to expensive coverage.
You don’t expect to have many, if any, health care needs in the coming months, including no prescriptions or doctor visits, such as physicals, tests and mental health care.
You aged out of your parent’s health plan, want inexpensive coverage and don’t qualify or can’t afford catastrophic health insurance through the ACA marketplace. Catastrophic health insurance, available only to people under age 30 or facing severe financial issues, has low costs and large, initial out-of-pocket costs, similar to short-term plans. One major difference is that catastrophic plans offer comprehensive coverage, just like ACA plans.

The average cost for short-term health insurance is $171 a month, according to Forbes Advisor’s analysis of eight policies.

Our analysis found costs as low as about $100 a month for barebones coverage to over $200 a month for coverage with prescription drug coverage. Short-term health insurers may promote coverage for under $100 a month, but you want to carefully read the print to understand what is and isn’t covered by cheaper short-term plans.

Average Monthly Short-Term Health Insurance Costs by Plan

Source: Forbes Advisor research. Rates reflect the average for a 30-year-old woman who is a nonsmoker for the three lowest quotes in these cities: Orlando, Florida, Phoenix and El Paso, Texas.

Health insurance costs are a major reason people may be interested in a short-term plan. Short-term health plans are generally much cheaper than ACA plans, also called Obamacare. Our analysis found that a 30-year-old pays an average of $412 a month for an ACA plan, which is more than twice the average cost for a short-term health insurance plan.

Obamacare costs are influenced by multiple factors, including the plan’s metal tier. The ACA’s metal tiers (bronze, silver, gold and platinum ) are divided by costs. The lowest cost ACA plan (bronze) is $356 a month, on average, for a 30-year-old. That’s much higher than a short-term plan average, but ACA plan members may be eligible for premium tax credits based on household income. Those tax credits can result in much lower health insurance costs, depending on your household income and size.

Catastrophic health insurance may be an option if you’re under age 30 or are going through severe financial issues, such as bankruptcy. Catastrophic health insurance costs an average of $267 a month for a 30-year-old.

Short-Term Health Insurance Costs Compared to Other Possible Options

Source: Forbes Advisor research. ACA plans costs are the averages for non-subsidized plans. Most ACA plan members are eligible for premium tax credits that reduce the monthly premiums.

Anyone who lives in a state that allows short-term health insurance plans can apply for coverage, but unlike standard health insurance, you could be denied coverage.

Short-term health insurance plans use medical underwriting during the application process to gauge your risk. That process can include asking you to answer yes/no questions about medical conditions. Your answers affect whether you’re approved or not.

Once you have coverage, short-term health plans review your claims to check if your health care services are connected to a pre-existing condition. If they find a pre-existing condition is causing health problems, they could reject the claim or even drop your coverage at any time.

How Do You Qualify?

You can apply for a policy at any time of year if your state allows short-term insurance. You don’t have to wait until open enrollment, which is the case in the ACA marketplace or if you get health insurance through an employer.

If you’re considering short-term health insurance, be aware that if you have a qualifying life event , such as losing your job, you’re eligible to enroll in an ACA plan through the health insurance marketplace at healthcare.gov, so you may have options beyond a short-term plan.

If you decide short-term health insurance is right for you, there are several factors to consider to ensure you’re choosing the best plan for your needs. Ask yourself these questions:

Does the plan have a provider network? You may save money by staying within a plan’s network.
How much is the deductible, and does the plan provide any coverage before the deductible is met? If not, consider whether you can cover the cost of the deductible yourself if needed. Deductibles vary considerably from one plan to another. (ACA-compliant plans are required to cap out-of-pocket costs at $9,100 annually, but these rules don’t apply to short-term plans.) Check the plan’s copay and make sure it fits into your budget.
Does the plan cover prescriptions? If the answer is no, ask yourself if you have enough income or savings to pay for your medications out of pocket.
How long will the plan last and is it renewable? Short-term insurers can choose to make plans renewable and can set shorter policy terms beyond what’s allowed by state or federal law.

If you lose health insurance coverage through an employer, you can enroll in COBRA. The COBRA law requires insurers to provide a temporary continuation of your same health insurance.

You can maintain the same medical, dental and vision benefits you had with your employer-provided coverage. There is a major drawback, though. Your previous employer will likely no longer cover part of the monthly premium. You instead have to pay the full premium, plus an administrative fee.

COBRA is more expensive than short-term health insurance but it’s a good option if you want to maintain your coverage and can afford the higher premium.

To identify the best short-term health insurance companies, we evaluated companies based on average monthly cost, coverage and out-of-pocket costs:

Short-term health insurance rates (25% of score): We compared quotes for a 30-year-old woman who is a nonsmoker for three cities: Orlando, Florida, Phoenix and El Paso, Texas. We took the three lowest quotes for each plan in each city and came up with an average.

Coverage maximum (25% of score): Unlike standard health insurance, a short-term health insurance plan has maximum coverage, either lifetime or annual, which is the most the company will pay for an individual’s care.

Deductible (20% of score): Short-term health insurance companies often offer multiple health insurance deductible levels. Plans with more options got more points in our analysis.

Coinsurance (15% of score): Coinsurance is the percentage you pay for health care services after you reach your plan’s deductible. The insurer picks up the rest of the bill until you reach the coverage limit. Lower coinsurance levels mean less money out of pocket, so we gave those plans more points.

Prescription drug coverage (15% of score): Many short-term health insurance plans don’t offer prescription drug benefits or only give a discount card for members. We analyzed which short-term plans offer prescription drugs, which ones do not and which have exclusions that only cover prescription drugs for specific reasons, such as only during hospitalizations.

How To Get Health Insurance
What You Need To Know About Group Health Insurance
Your Guide To Getting Health Insurance Quotes
What Is Hospital Indemnity Insurance?
Your Guide To The Best And Most Affordable Health Insurance Plans

Les Masterson is a deputy editor and insurance analyst at Forbes Advisor. He has been a journalist, reporter, editor and content creator for more than 25 years. He has covered insurance for a decade, including auto, home, life and health. Before covering insurance, Les was a news editor and reporter for Patch and Community Newspaper Company and also covered health care, mortgages, credit cards and personal loans for multiple websites.

IMAGES

Sailboat Insurance Guide: Costs, Requirements & More
Sailboat Insurance: The Best Options By Far
How to Get Cheapest Boat Insurance with the Best Coverage
How Much Does Liveaboard Sailboat Insurance Cost? in 2021
10 Best Boat Insurance Companies for Your Boat
Insurance options for your sailboat

VIDEO

HOLD YOUR INSURANCE COMPANY ACCOUNTABLE!!!
Q&A Talking Boat Insurance, ASA Classes, and Sailing
Does insurance cover my sailboat rigging?
Boat Yard Disasters!
Yachting: It's Not about the Yacht?? What I've learned from my clients
E32 FIVE reasons NEVER to buy an OLD SAILBOAT

COMMENTS

Sailboat Insurance: Get a Quote
Cover your sailboat with a leading boat insurer. Get a quote Or, call 1-855-347-3939. At Progressive, sailboat insurance starts at just $100 for an annual policy. Check out coverages and get a sailboat insurance quote.
Sailboat Insurance: The Best Options By Far
This is a company that will offer you amazing deals and discounts of up to 25% if you choose to bundle your boat insurance with at least one other policy provided by the company. What's more; they offer affordable packages for fishing equipment ($1,000), personal effects ($3,000), and towing ($500).
Boat Insurance
Since 1966, BoatUS has been helping to make boating safer, more affordable, and fun. Together, we share a passion for all things boating. We all want cheap boat insurance rates, but customer service matters too. Protect your investment with boat insurance you can count on and get your free online boat insurance quote today.
7 Best Boat Insurance Companies
Chubb - Best for Yacht Insurance. Markel Insurance - Best for Commercial Boat Insurance. National Boat Owners Association - Best Insurance Agency. A guide to the best boat insurance providers of 2023, including Progressive (Best for Discounts), State Farm (Best for Rentals) and Foremost (Best insurance packages).
Boat Insurance
Boat and PWC policies are underwritten by GEICO Marine Insurance Company with administrative offices at 5323 Port Royal Road, Springfield, VA 22151. GEICO Marine Insurance Company is domiciled in Omaha, NE, and coverage is offered in all 50 states and the District of Columbia to boat owners with a U.S. address.
Boat Insurance: Get a Quote Online
Quote boat insurance and be covered for as low as $100/year *. Get a quote Or, call 1-855-347-3939. See how Progressive simplifies boat insurance so you can enjoy your watercraft. Get a boat insurance quote online today.
Best Boat Insurance Of 2024
Arkansas residents must purchase a boat insurance policy that includes at least $50,000 in liability coverage per incident. Utah residents can choose between one of two liability coverage options ...
Cheap Boat Insurance: Get Affordable Boat Insurance
Cheap boat insurance. Affordable boat insurance is always attainable with Progressive. Our boat insurance policies start as low as $100 per year, * so you can stay protected on the water without having to dive deep into your wallet. We give you the flexibility to build your own policy, so your coverages are customized to you and your watercraft.
Boat Insurance Quote
Unlimited Towing from TowBoatUS. 24/7 Claims Service from Boating Experts. Multi-Policy Discounts - Bundle and Save! BoatUS and GEICO have teamed up to bring boaters a great boat insurance policy at a great price. Get a Boat Insurance Quote Online in just minutes. Get a Sailboat Insurance Quote or a quote for any other boat type here!
Best Boat Insurance of 2024
Markel offers boat insurance starting at just $100 per year depending on what coverage you need. Whether you're a professional fisher or just enjoy fishing for fun, Markel offers lots of ...
The Best Boat Insurance of 2024
In addition to its strong lineup of coverages, Geico Marine insurance also comes with 24/7 assistance. Additionally, the company has a long-standing association with The Boat Owners Association of ...
Best Boat Insurance Companies & Coverage (2024 Review)
Rashawn Mitchner is a MarketWatch Guides team editor with over 10 years of experience covering personal finance and insurance topics. The best boat insurance companies are Progressive, BoatUS ...
Cheapest Boat Insurance: How and Where To Find It (2024)
Based on our research, watercraft insurance typically ranges from about $200 to $500 per year, but the cheapest boat insurance policies can start as low as $100 per year. The wide range is due to ...
5 Best Boat Insurance Companies of 2024
As a Farmers Insurance company, Foremost offers coverage with the same great strength as its name-brand parent company. Foremost's boat insurance serves a wide range of boat types, from fishing ...
Boat Insurance: An In-Depth Guide
What boat insurance will pay for. You can typically buy liability insurance — which pays for damage your boat does to others — in amounts from $15,000 to $300,000, according to the Insurance ...
Boat Insurance Quotes
Boat insurance. Find an agent. Call 1-866-603-9273 for a quote. Let us protect your fishing boat, sailboat, pontoon boat, ski surf boat or other recreational boat valued up to $350,000.
Boat Insurance Quotes
Often, you can expect the annual cost of your boat insurance to be about 1.5% of the value of your boat. For example: $20,000 boats cost about $300 annually to insure. $50,000 boats cost about $750 annually to insure. $100,000 boats cost about $1,500 annually to insure.
Boat Insurance Discounts
Boat insurance discounts. Find an agent. Call 1-866-603-9273 for a quote. From bass boats to yachts, having the right boat insurance policy is critical no matter what type of vessel you own. If you're looking for cheap boat insurance but still want reliable coverage, make sure you take advantage of Nationwide's boat insurance discounts.
Cheapest Homeowners Insurance Companies in 2024
Cheapest insurance for most homeowners: State Farm. State Farm has the lowest average rate among national home insurance companies of $2,427 a year. You may drive down your rate even more with its multipolicy discount. You can save up to $1,073 a year on car and home insurance if you bundle both policies with State Farm.
Cheapest Full Coverage Car Insurance of 2024
Among other carriers, Geico stands out in providing cheap full coverage for senior drivers. Geico averages just $1,134 annually for full coverage, compared to the national average of over $1,300 ...
THE 10 BEST Things to Do in Elektrostal
Strip Club 54 Sunset Boat Party Off Road Fury Barbados Camel Safari Las Vegas Three Tables Dive Site Ice Lagoon Adventure Boat Tours Elephant Jungle Sanctuary Samui Swift Creek Outfitters & Teton Horseback Adventures Odyssey Whale Watching Giorgos Pame Walking Tours
Boat Insurance Discounts
Quote boat insurance and be covered for as low as $100/year *. Get a quote Or, call 1-855-347-3939. Spending a day on the water is even more fun when you have the best boat insurance rates. See all the boat insurance discounts offered at Progressive.
RESTAURANT GLOBUS, Elektrostal
Restaurant Globus. Unclaimed. Review. Save. Share. 67 reviews #2 of 28 Restaurants in Elektrostal $$ - $$$ European Contemporary Vegetarian Friendly. Fryazevskoye Hwy., 14, Elektrostal Russia + Add phone number + Add website + Add hours Improve this listing. See all (2)
Best Short-Term Health Insurance Companies Of 2024
UnitedHealthcare is the world's largest health insurance company based on net premiums written, according to AM Best. The insurer offers coverage through the employer-sponsored health insurance ...
Elektrostal to Moscow
The cheapest way to get from Elektrostal to Moscow costs only RUB 120, and the quickest way takes just 39 mins. Find the travel option that best suits you. Rome2Rio uses cookies to help personalize content and show you personalised ads. By proceeding, ...
Amazing Deals That Lower Your Auto Insurance Rates
An estimated 12% of drivers in the U.S. lack auto insurance, and in some states, the number is even higher. For example, 29.4% of Mississippi drivers are without coverage.
BETA GIDA, OOO Company Profile
Find company research, competitor information, contact details & financial data for BETA GIDA, OOO of Elektrostal, Moscow region. Get the latest business insights from Dun & Bradstreet.

How to Find the Best Sailboat Insurance Coverage for You

What Does the Boat Insurance Cover?

Types of Boat Insurance Policy

Important Things to Know

Best Sailboat Insurance Companies

Allstate - Best for Budget

Nationwide - Best Option for Bundling

United States Power Squadron (USPS) Boat Insurance Program - Best for USPS Members

Markel - Best for Anglers

BoatUS - Best for Additional Benefits

State Farm - Best for Emergency Services Coverage

Foremost - Best for Flexible Coverage Options

Hagerty - Best for Classic Boats

United Marine Underwriters - Best for Personalized Customer Service

Most Recent

What Does "Sailing By The Lee" Mean?

The Best Sailing Schools And Programs: Reviews & Ratings

Similar Posts

Best Bluewater Sailboats Under $50K

How To Choose The Right Sailing Instructor

Cost To Dock A Sailboat

Popular Posts

Best Liveaboard Catamaran Sailboats

Can a Novice Sail Around the World?

4 Best Electric Outboard Motors

How Long Did It Take The Vikings To Sail To England?

10 Best Sailboat Brands (And Why)

7 Best Places To Liveaboard A Sailboat

Boat Insurance

Get a boat insurance policy to protect your investment.

Why do you need boat insurance?

Boat insurance can provide coverage for:

What types of watercraft are covered by boat insurance?

What does boat insurance cover?

Service and Claims

24/7 Boat Towing*

Personal Watercraft (PWC) Insurance Coverage

How much does boat insurance cost?

You could save even more with these boat insurance discounts.

Multi-Policy Discounts

Boat Safety Courses

Need to speak with a boat insurance sales representative?

Boat Insurance: Get the answers you're looking for.

Boat Insurance from Experts.

Best Boat Insurance

Best Boat Insurance of 2024

The Bottom Line

Limitations

Additional Perks

Progressive : Best for Cheap Boat Insurance

Nationwide : Best for Policy Bundling

Foremost : Best Variety of Coverage

Markel : Best for Fishermen

Compare Best Boat Insurance

Do I Need to Have Boat Insurance?

What Should I Look for When Shopping for Boat Insurance?

Does Homeowners Insurance Cover My Boat?

What Does Boat Insurance Cover?

Cheapest Boat Insurance

Who Has The Cheapest Boat Insurance?

Affordable Boat Insurance

Cheapest Boat Insurance Reviews

1. Progressive

Notable Boat Insurance Discounts

Notable Boat Insurance Coverages

4. National Boat Owners Association

5. Foremost

6. State Farm

How To Get the Cheapest Boat Insurance

See If Your Homeowners Insurance Covers Your Boat

Find Boat Insurance Discounts

Set a Maximum Lay-Up Period

Decide What Coverage You Actually Need

Take a Boat Safety Course

Boat Insurance Quotes

The Complete Boat Insurance Buyer’s Guide

How Much Is Boat Insurance?

Actual Cash Value vs. Agreed Value Coverage

What Does Boat Insurance Cover?

Types of Boats You Can Insure