Get A Boat Insurance Policy To Protect Your Investment.
Boats and water vessels are as unique as the people who own them. There are a full-range of coverage options for personal boating as well as water-related commercial policies. Vessels we insure include
- Yachts and other recreational cruisers
- Sailboats
- Fishing boats
- Speedboats
- Jet Ski® and other personal watercraft
As a full-service insurance agency, we also offer commercial insurance policies for
- Commercial fishing operations
- Marinas
Types of Watercraft / Boat Insurance
There are two basic types of boat insurance—“agreed value” and “actual cash value.” How depreciation is handled is what sets them apart.
- An “agreed value” policy covers the boat based on its value when the policy was written. While it can cost more up front, there is no depreciation for a total loss of the boat (some partial losses may be depreciated).
- “Actual cash value” policies cost less up front, but factor in depreciation. In other word, the policy will only pay up to the actual cash value of the boat at the time it is declared a total or partial loss. Eventually, as your boat ages, your insurer will likely insist on an actual cash value policy—and if often gives a substantial savings.