The Best Boat Insurance Companies in 2023

The Best Boat Insurance Companies in 2023

The Best Boat Insurance Companies in 2023

Foremost has the best insurance packages, Progressive is the best for policy discounts, BoatUs is the best for membership perks. The National Boat Owners Association is the best insurance agency, followed by State Farm, Markel Insurance, and Chubb as the best insurers for yachts, businesses, and boat rentals, respectively.

Allstate offers comprehensive coverage for your boat, and it stands out from other companies in the market thanks to its multiple discounts. These discounts help lower your monthly premiums and provide additional optional coverages, such as emergency services and personal effects coverage. Unfortunately, Allstate offers a limited online presence and received more complaints than average. However, it is essential to consider these factors when choosing an insurance company. Read on to learn about Allstate’s boat insurance coverage and other features.

The Best Boat Insurance Companies in 2023


If you’re a boat owner looking for boat insurance, you may have noticed that Chubb is one of the most expensive options on the market. That’s not necessarily a bad thing. This is because the company offers a comprehensive range of insurance policies that aren’t necessarily suitable for every type of inland marine insurance policy. The downside to Chubb’s policies is that their premiums are higher than some of the best providers. However, you can find policies available in all 50 states. You can also speak with your local insurance dealer to see which Chubb policies are available in your state.

Chubb offers a private client insurance option tailored to the high-end market. These policies offer comprehensive coverage with higher limits and more features than the typical policy. In the event of a total loss, Chubb will pay out the agreed amount, even if you can’t use the boat. In addition, they offer replacement cost coverage up to 120% of the insured value for eligible vessels.

Another benefit of Chubb’s premiums is its excellent customer service. Chubb employs professionals who specialize in specific industries. Additionally, Chubb offers online tools that make tracking and paying out claims easier. Although this company has a long list of positive attributes, you should be aware that its policies tend to be more expensive than its peers in the commercial insurance market. Nevertheless, it is still worth considering if you’re looking for boat insurance.

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You’ll want to consider Progressive Boat Insurance if you’re a boat owner. This insurance company was founded in 1937, so they know a thing or two about protecting your investment. This insurance company offers several savings methods, including optional riders, customizability, and comprehensive coverage. While many insurance policies are generic, Progressive has a variety of remarkable riders that can cover different needs and provide more coverage. For example, you can add protection for carry-on items, fishing equipment, and mechanical breakdown. Of course, if your boat is over 50 feet or worth less than $500000, you probably won’t qualify for any of these optional riders.

Progressive offers its customers other benefits, including medical payments for accidents on your property. They also cover water damage from backed-up systems, legal fees, and additional damages resulting from lawsuits. Customers are happy with the customer service provided by Progressive, which scores 856 out of 1,000 in the J.D. Power 2021 U.S. Insurance Shopping Study. That’s eight points higher than it scored in the same study in 2020.

One significant advantage of Progressive is its reputation as a top insurance company. They have a high-quality reputation, and their financial strength is solid. The total loss replacement option lets you replace your boat with a new model, as long as it’s still within the first five years of its lifecycle. Progressive offers discounts for accident-free years. Also, it doesn’t charge loyalty rewards for total loss replacement or agreed-value policies.


Traveler is a respected name in the boat insurance industry, and their comprehensive coverage can be a good choice for the average owner. However, the company’s service isn’t always the most efficient. The claims process can be lengthy and frustrating, but overall, the company’s customer service is above average. Additionally, it offers generous discounts and competitive rates. Purchasing insurance from Travelers guarantees peace of mind and financial security for boat owners.

Customers can log into their login portal to manage their policy, pay bills and monitor claims. They can also get quotes and find an agent. They also provide valuable tips for preventing house fires and driving on ice. In addition, the company’s website is an excellent resource for insurance information. Whether insuring a boat, home, or other property, you can use their website to learn about the various types of insurance.

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Whether you’re looking for a home, renters, or landlord insurance, Travelers offers a wide range of coverage options for residential and commercial properties. They even offer insurance coverage for special events and small businesses. And with 165 years of experience, Travelers is the ideal company to protect you and your property. In addition, it’s easy to compare traveler boat insurance companies to find the best policy for your needs.


Foremost has been in the insurance business for a long time, and its history demonstrates a stable financial position and solid track record. Its comprehensive coverage plans factor in the needs of hard-working customers, like the need for 24-hour claims reporting. Moreover, it offers competitive premium rates, a wide range of customer services, and a positive outlook on the future. Moreover, the company is one of the most popular brands in the insurance industry, with good ratings from leading credit rating agencies.

The three main packages offered by Foremost include Saver, Plus, and Elite. Saver is the most affordable, while Plus offers coverage for the total cost of repairs. Compared to Saver, Plus and Elite add pollution liability, navigation across the Bahamas, and towing services. In addition, foremost offers insurance packages for all types of watercraft, including speedboats and pontoon boats. The company also offers a membership program.

Foremost has separate telephone lines for general inquiries and claims reporting. Their claims reporting hotline is open twenty-four hours a day. In addition, they have a solid social media presence on Facebook, Twitter, and LinkedIn. Foremost assigns the claim to claims representatives or teams in case of a claim. The claims department is dedicated to handling customer complaints and issues, and they have a 24-hour claims reporting system.


Regarding boat insurance, Allstate stands out from the rest of the pack. They offer extensive coverage options for various boat types, including personal watercraft and sailboats. And while all insurance companies have some common mistakes, Allstate offers many additional benefits, such as discounts and multiple types of coverage. You can even get optional extra coverages, such as emergency services coverage and personal effects coverage. However, if you dislike how they handle customer service, you might want to look for a different company.

Among the different types of coverage offered by Allstate, the company’s comprehensive coverage is the most impressive. It covers everything from damage caused by an unexpected storm to water-skiing accidents. Plus, there are no size or value restrictions on the type of boat you can insure. So if you own a million-dollar super yacht, you may want to consider AIG. They’ll insure it for you, as long as you’ve insured other possessions with them.

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In addition to their comprehensive coverage, Allstate offers a loyalty program that rewards safe driving with reward points. Allstate’s Ride for Hire insurance includes coverage while waiting for customers or driving solo. It’s also important to consider that Allstate offers discounts for being a good student, paying your premiums on time, and setting up automatic payments. These discounts can significantly reduce your overall bill, but the exact amount won’t be advertised.

The Best Boat Insurance Companies in 2023


If you own a watercraft, you need to be insured in case you get into an accident. SkiSafe offers a wide range of coverages to protect your watercraft. You can choose from several policies for yachts and personal watercraft. In addition to boat insurance, this company provides coverage for personal watercraft like wave runners. If you are considering getting a new insurance policy for your PWC, read on to learn about some of the great benefits available through SkiSafe.

If you’re looking for a boat insurance company in 2023, you should consider SkiSafe. Their insurance program covers almost all types of physical damage to your watercraft. It also covers the trailer. A named perils policy limits your coverage to a list of specific events, but the SkiSafe policy is more inclusive and offers coverage for any loss, including fire. It also includes the most common losses, like theft and storms, so you don’t need to worry about getting into a mishap – skiers and boat owners can get their boat insured through them.

Another critical factor in finding the best boat insurance company is how much coverage you need. The right amount of coverage will protect you and your boat, but make sure you check what the limits are. For instance, you might have homeowners insurance that covers damage to your boat if it crashes on your property, but the value limit is usually much lower than the value of your boat. If you are buying a new boat, you need to check with the insurance company to ensure that you are adequately covered.