Boat Us Insurance: What's Covered And What's Not?

BoatUS and GEICO have partnered to provide boat insurance that covers a wide range of scenarios. The insurance covers liability and damage in the event of a boating accident, including injury to someone or damage to someone else's property. It also covers theft and offers a range of add-on coverage options, such as dock contract liability, fishing guide coverage, and ice and freezing coverage. The cost of boat insurance depends on various factors, including the type and size of the boat, how it will be used and stored, and the level of coverage desired.

Hull, machinery, furnishings, and equipment

Hull and machinery insurance can be written to cover a single vessel or an entire fleet of ships owned by a single owner. It can also be tailored to meet specific requirements, such as vessels operating in the Nordic and Baltic states with less than 500 gross tonnage.

BoatUS offers insurance for boats of all kinds, including coverage for the hull, machinery, furnishings, and equipment. Their policies include protection for the boat, engine, and gear, paying out the agreed value in the event of a total loss and replacing parts "new for old". They also offer a lower-cost policy that provides essential liability coverage without the added cost of hull coverage, which includes salvage and wreck removal.

Additionally, BoatUS offers add-on coverage options such as mechanical breakdown coverage, which provides protection for the lower unit of the insured outboard engine and outdrive due to mechanical breakdown, which is usually excluded from the policy. They also offer personal effects coverage, which includes fishing and watersports equipment and personal items such as cell phones, tablets, stereos, and clothing lost or damaged while on board.

Salvage and wreck removal

BoatUS's 24-Hour Dispatch Hotline provides immediate assistance in arranging salvage operators or pollution control professionals in the event of an emergency. In the case of significant damage or injury, inspectors will be assigned. For larger-scale situations, such as hurricanes or major floods, the BoatUS "CAT" Team is flown in to expedite salvage operations and claims processing.

The cost of salvage and wreck removal can be significant, often running into hundreds of dollars per foot of boat length. It's important to understand how your insurance policy handles these expenses. Some policies may deduct the salvage cost from the amount you receive to repair your boat, while others may offer separate salvage coverage up to a certain percentage or the insured value of the boat.

Additionally, boats can be destroyed by sinking, fire, or extreme weather, resulting in the need for wreck removal. While most people assume their insurance company will cover this, some companies may provide a settlement and leave the policyholder to arrange and pay for the removal. The most comprehensive policies cover wreck removal under liability coverage, paying up to the liability limit to clean up the mess.

Fishing equipment and personal items

More comprehensive policies can offer higher limits, with some providers even offering coverage of up to $100,000 for fishing equipment and personal items. This higher limit is often dependent on the items being aboard the insured watercraft, within a certain distance of the boat, or while being loaded onto or off the boat.

Fishing equipment refers to items such as fishing rods, reels, tackle boxes, lures and rigs, bait boxes, nets, downriggers, outriggers, and rod holders. Personal items can include cell phones, cameras, clothing, portable speakers, and SCUBAs gear.

It is important to note that some policies may have exclusions or limitations, such as not covering items that are lost or stolen. Additionally, policies may differ in whether they offer "Agreed Value" or "Actual Cash Value" coverage. Agreed Value policies do not factor in depreciation, whereas Actual Cash Value policies do, which can impact the payout you receive in the event of a loss.

Liability and damage

In terms of damage, boat insurance can cover accidental loss or damage to the boat itself, including the hull, sails, engine, machinery, furnishings, fittings, motors, anchors, fuel tanks, batteries, safety equipment, and any other equipment permanently attached to the boat. Some policies may also include coverage for personal property and fishing or sports equipment.

Boat insurance can provide financial protection if you are found legally responsible for personal injuries or property damage. It is important to note that boat insurance is only required in two states (Arkansas and Utah), but it is generally inexpensive and can provide peace of mind while boating. When selecting a policy, it is crucial to consider your specific needs and compare different options, as the coverage may vary between companies.

BoatUS, in partnership with GEICO, offers a "Liability Only" policy for boats that are owned outright. This policy provides essential liability coverage without the added cost of complete hull coverage. It includes full salvage assistance and wreck removal, as well as additional fuel spill liability coverage, which is crucial given federal and state laws that hold boaters liable for cleanup, containment, and environmental damage.

Towing and assistance

BoatUS and GEICO have teamed up to bring boaters a range of insurance options. One of the most important aspects of boat insurance is towing and assistance, which can provide crucial help in the event of a breakdown or emergency. Here is a detailed overview of the towing and assistance services offered by BoatUS:

Unlimited Towing from TowBoatUS

BoatUS offers unlimited towing services from TowBoatUS, the nation's largest fleet of tow vessels. This service provides assistance for breakdowns, jump starts, soft ungroundings, and fuel delivery, ensuring that you are never left stranded on the water. The cost of this service starts at just $3 per month, depending on the length and location of your boat.

24-Hour Claims and Dispatch Assistance

BoatUS provides a 24-hour dispatch hotline, offering immediate assistance in arranging the necessary services to protect your property. In the event of a fire, sinking, theft, or fuel spill, BoatUS will dispatch salvage operators, pollution control professionals, or roadside assistance. They will also assign inspectors in cases of significant damage or injury. For catastrophes such as hurricanes or major floods, the BoatUS "CAT" Team is deployed to expedite salvage and claims processing.

Towing Service Agreement

BoatUS offers a towing service agreement as part of their insurance package. This agreement ensures that you have access to reliable and efficient towing services in the event of a breakdown or emergency.

Trailer Coverage with Roadside Assistance

When you insure your trailer with BoatUS, roadside assistance is included. This covers breakdowns that occur while trailering your boat, providing peace of mind during transportation.

Membership Requirements for Unlimited Towing

It is important to note that while BoatUS offers a range of towing and assistance services, some of these services require a membership. For example, to purchase unlimited towing for any boat you own, borrow, or charter, you must be a member of BoatUS. This membership can be arranged at the same time you initiate your insurance coverage and can be included in your premium.

In conclusion, BoatUS and GEICO's insurance offerings provide comprehensive towing and assistance services for boaters. From unlimited towing to 24-hour dispatch and roadside assistance, these services offer peace of mind and ensure that help is always within reach.

Frequently asked questions