Boat Insurance Coverages

The simple truth: coverage isn’t the same everywhere

We offer many of the same standard coverages other insurers do. But we do more than meet checklist requirements. We offer more unique coverages—many of which don’t cost any extra.

Boat insurance coverages that are automatically included

No depreciation on repairs

We’ll always pay what it costs to return your watercraft to its pre-accident condition or better. For example, let’s say that you hit a submerged object, damaging your 10-year old motor. It may only be valued at $1,000 but costs $3,000 to replace. If we can’t repair it, we’ll replace it. For you, that could be a real $2,000 difference.

Unlimited small accident forgiveness

We don’t count any small accidents of $500 or less against you or charge you more because of one.

Large accident forgiveness

If you’ve been with us for at least 4 years and have not filed a claim in the last 3 years, we won’t count an accident against you at your next renewal, regardless of what it costs.

Fuel spill

Pays the cost of cleaning up a fuel spill, even if your boat sinks.

Wreckage removal

If your boat sinks, we’ll cover the costs of removing your boat from the water (if removal is legally required).

Roadside assistance

If your trailer or tow vehicle breaks down or is disabled, we’ll pay to tow you to the nearest repair shop. This coverage is provided at no additional cost if trailer coverage is selected.

Standard boat insurance coverages

Bodily injury & property damage liability (BI/PD)

Pays for damages to other watercraft and injuries to other boaters and passengers. This will also pay for legal expenses if you’re sued.

Comprehensive & collision

Pays for repairs if your boat is damaged or stolen. Plus, we’ll even include free pet injury coverage for dogs and cats with comprehensive and collision. We’ll pay up to $1,000 if your pet is injured during a covered accident (and even give you a $1,000 death benefit for your pet). With comprehensive and collision, you pick what you pay out of pocket (called your deductible). For example, if you file a claim for $2,500 in damages and you have a $500 deductible, you pay $500 out of pocket. We’ll pay the rest.

Uninsured/underinsured boater (UB/UIB)

It’s a common question: what happens if another boater who doesn’t have insurance hits your boat and injures you? Sometimes, they’ll pay for damages. But if they don’t have insurance, you may have to pay. This coverage will then pay for your injuries/medical bills and lost wages if you can’t work.

Medical payments

You can pick a range of coverage limits to pay for your medical bills (or your passengers’) if you’re in an accident. In some states, this coverage will kick in once your health insurance limits are reached.

Add-on coverages for more protection

Total loss replacement

This coverage is available for purchase if your boat is no more than one model year old. If it is totaled within 5 model years, we’ll either buy you a new one or give you the amount that you originally paid for your totaled boat—your choice. If you’re outside the 5 model-year window, we will still give you the original purchase price of your boat. No depreciation. No estimated values. Just more cash for you.

For example, let’s say that you bought a new boat 3 years ago for $15,000, but it’s now only worth $10,000. If you have a total loss, it’s going to cost you $15,000 (or more) to buy a brand new one. So, we’ll spend the $15,000+ and not the depreciated value of $10,000. That’s a real $5,000 difference.

Sign & Glide® on-water towing

Pays for towing, jump starts, fuel delivery, and soft ungroundings if your boat is disabled while on water. Just call our dispatch center (the number on your policy card) and Progressive arranges for the tow and pays the tow operator directly (in most cases). You pay nothing out of pocket.

Only costs $30/year and $50/year in Florida

Full coverage for fishing equipment or carry-on items

You can get full replacement cost up to $10,000 for personal property you carry on your boat such as fishing equipment, scuba gear and even phones or other items that are lost/stolen.

Propulsion Plus® mechanical breakdown coverage

We’ll pay to repair or replace the lower unit of an outboard motor, or upper & lower units of an inboard/outboard motor if you have a mechanical breakdown. And yes, we’ll still cover it if it’s caused by general wear and tear.

Starts at $38/year

Trailer trip interruption

If your trailer or tow vehicle breaks down, and you’re more than 100 miles from home, we’ll reimburse you up to $500 to cover food, hotel and other transportation costs.

Costs only $10/year

Disappearing deductible

This reduces your deductible by 25% each year that you don’t have a claim. Your deductible can go all the way down to $0. If you have a claim, your deductible returns to its original amount at the next renewal.

Why you need a specialty boat insurance policy

You may be able to insure your boat on your homeowners policy. But homeowners typically only covers physical damage while your boat is stored on your property. You might not even get protection when you’re actually on the water. That’s why so many boaters choose Progressive specialty policies.

With specialty boat insurance, you’ll get all the coverages listed above (or the option to select them). And if you finance your boat or dock it at a marina, you may be required to get a specialty policy.

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