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Boat and Watercraft Insurance

There’s nothing like being on the water — especially when it’s in a boat you can call your own. American Family Insurance wants to make sure that whether your boat’s in the water or on the road, it’s protected. We’ll work with you to get you on the water with confidence. Our boat coverage ensures you’re equipped with smart, customized insurance and the dedicated support of your very own American Family Insurance agent.

Our major policy coverages available for purchase include physical damage, bodily injury liability, property damage and medical expense coverage. Take a closer look at your coverage options below so you know exactly how you’re protected.

A boat designed for fishing, typically equipped with an electric or outboard trolling motor, rod lockers, casting decks, pedestal seats and live wells.
One of the most common types of boats, often used for cruising, water sports, fishing, etc.
Most common PWCs include Jet Skis, Sea-Doos, Waverunners or similar vessels that are designed for one to three people.
Typically, a houseboat is a larger, slow-moving boat that is equipped with a full kitchen, bathrooms, bedrooms and a common area. If your houseboat is used as a primary residence it cannot be insured on your boat policy.
A recreational sailing or power watercraft with a length of at least 40 feet with berths for sleeping and kitchen facilities.
We want to ensure that you’re protecting your non-motorized vessels from the unexpected. That’s why we offer coverage that can be customized to you and all your water adventures.
A boat that uses at least one sail for power and may have a motor as an additional power source.

What Does Boat Insurance Cover?

In the event of a covered loss or damage to your watercraft, boat insurance helps to cover your costs for repairs. And if you’ve purchased a new vehicle replacement coverage endorsement for your boat, you may qualify for the outright replacement of your boat, in the event of a total covered loss. Limitations apply, so be sure to talk to your agent about qualifying for the coverage.

Take a look at all the great ways we help to protect you and your family when you’re out on the water. Take a look at all the great ways you can protect your watercraft with American Family Insurance:

Physical damage coverage for your boat

Physical damage coverage protects your watercraft on land and in the water. Whether it’s afloat, in transit or in storage, your watercraft is protected against most accidental damage or loss. And that usually includes coverage for your manufacturer-installed equipment and your outboard motor, too. If you own a sailboat, the policy also covers sails, spars and rigging.

Covered losses for physical damage to watercraft typically include:

  • Collision with another boat or object
  • Fire
  • Explosion
  • Overturn
  • Sinking
  • Theft
  • Windstorm
  • Vandalism

Emergency Roadside and On-Water Service

If you’ve purchased physical damage coverage for your watercraft, $500 in emergency roadside and on-water services is automatically included — and for an additional charge, it be increased to the following increments: $1,000 or $2,500. Service consists of mechanical labor or other service — up to one hour — at the location where the breakdown occurred. Note that mechanical breakdown of the boat is excluded in the policy.

This service also affords towing to a nearby garage or marina or other location to make repairs. Note that the delivery of gasoline, oil or a loaned battery is available but the customer is responsible for the purchase.

Boat liability coverage

Liability coverage protects you and your financial future. As a boat owner, you can be held legally responsible for injuries or property damage resulting from accidents involving water skiers, swimmers, collision with other boats, collision with docks and more.

Protecting yourself and operators of your watercraft against liability losses is as important as protecting your watercraft and equipment. We offer a range of liability coverage limits to help ensure you are protected if the unexpected happens.

The following supplementary protection is included under boat liability coverage at no additional cost:

Claim and defense expenses

If you are found responsible for a covered loss, and a liability lawsuit results, boat liability coverage can help cover legal and defense expenses.

Emergency first aid

This additional coverage pays reasonable expenses incurred by others for first aid when your watercraft is involved in a covered event.

Watercraft equipment coverage

If you select physical damage coverage, your watercraft insurance policy provides coverage up to $3,000 for watercraft equipment, but you can increase that coverage if you need to. Watercraft equipment includes accessories on the insured watercraft not installed by the manufacturer as part of the original sale.

This coverage applies to items such as the watercraft trailer, boat hoist, marine instruments, safety and life preserving equipment, water skis, electric trolling motor and an auxiliary outboard motor.

Medical expenses

Medical expense coverage protects you and others in your watercraft. We’ll pay reasonable medical expenses incurred by you, members of your household or your guests for appropriate and necessary medical services resulting from a covered accidental injury that arises out of the ownership, maintenance or use of the insured watercraft and watercraft equipment.

You have the option of selecting a policy limit of:

  • $1,000
  • $2,000
  • $3,000
  • $5,000
  • $10,000

Fuel or oil spill cleanup coverage

This is included with every boat and watercraft policy and provides up to $10,000 per loss for fuel or oil spill cleanup resulting from an accidental oil or fuel spill. The limit for this coverage in any 12-month policy period is $20,000.

Optional Boat Insurance Endorsement Coverage for Extra Peace of Mind

Because people have different boats, boat equipment and comfort levels, American Family offers optional boat insurance coverages so you can customize your policy . These boat insurance endorsements can enhance your current protection and your peace of mind — and some may be subject to limitations.

All additional boat insurance coverages will incur an additional premium cost. Take a look the great watercraft insurance endorsements we offer:

Diminishing Deductible

Diminishing Deductible rewards you for being a safe boater by crediting your deductible after each claim free year, up to the $500 maximum. It’s one of the ways we give you control over what you pay. And upon purchasing this coverage, you’ll be immediately credited. And that can help make a big difference right away.

Personal effects and fishing equipment coverage

This boat endorsement protects you against covered losses of those extra items you may use on your boat, such as fishing equipment, diving equipment and clothing. Here’s more good news: items claimed under a covered loss are reimbursed on a replacement cost basis — meaning there won’t be deductions made for depreciation.

The coverage can be purchased with a minimum limit of $1000 up to a maximum of $25,000 and is purchased in $1000 increments.

Repair cost coverage

If you suffer property damage resulting in a partial loss, this endorsement allows you to repair your boat, motor or boating equipment — without a deduction for depreciation. Initial coverage starts at $3,000 and can be increased depending on the value of your boat.*

Agreed value hull coverage

With this coverage, we will pay the agreed value limit you select for your insured watercraft in the event of a covered total loss. The coverage automatically includes repair cost coverage for partial losses.

Uninsured or underinsured watercraft coverage

This coverage helps protect you against damages suffered in an accident caused by a driver who has no liability coverage or inadequate liability coverage.

Coverage is offered between the increments of $100,000 - $1,000,000, at various fixed levels.

Getting the right balance of boat insurance coverage can make a big difference if the unexpected should happen out on the water. Be sure to reach out to your American Family Insurance agent to learn about how these boat insurance endorsements can be applied to your policy.

How Much Does Boat Insurance Cost?

On average, boat insurance costs a few hundred dollars, but the rate will differ for each boat owner depending on several factors, including:

  • Your type of motor (e.g. inboard, inboard/outdrive, etc.)
  • Its length, year, make, model and motor
  • Horsepower of the boat
  • Safety measures and certifications you’ve been awarded — like a certified safety course
  • Your record of boat insurance claims

Discover more ways to save on boat insurance with discounts from American Family.

Types of Boats and Personal Watercraft We Insure

If your boat or personal watercraft’s MSRP is less than $250,000, we’ll usually insure it. There are some limitations, so be sure to check with your agent to find out more.

Here’s a sampling of the types of watercraft we insure:

  • Sailboats
  • Rowboats
  • Fishing boats
  • Canoes
  • Bowriders
  • Pontoon boats
  • Cabin cruisers
  • Yachts
  • Jet boats
  • Other types of personal watercraft

Mexico Boat Insurance

If you’re planning a trip to Mexico with your boat in tow, you’ll want to make sure you have Mexico boat insurance.

Through B&A Insurance Solutions , you can obtain $100,000 to $250,000 in liability coverage for most types of boats and jet skis, as well as $20,000 in legal assistance and bail bond coverage.

This Mexico boat insurance policy through B&A Insurance Solutions doesn’t cover physical damage for your boat and neither will your boat policy with American Family Insurance.

Get a Mexico boat insurance quote.

Request a Boat Insurance Quote

Now that you know the ways we’ll protect your boat from the unexpected, let’s get you covered. Connect with an American Family Insurance agent to get a quote and compare rates for your boat or watercraft. Take a look at our boat safety tips before heading out on the water. We’ve also got the 411 on winter boat insurance so you can ensure your boat is protected year-round.

* This coverage is required in Minnesota.