Boat Insurance FAQ

Learning the Ropes

Find answers to frequently asked questions about Safeco boat insurance.

I use my boat for racing. Is Safeco watercraft insurance right for me?

Safeco insures sailboats used for racing, but not powerboats designed or used for racing. If you race sailboats, yes. If you race powerboats, no.

Can I insure my boat or watercraft for use year-round?

Yes. It’s inexpensive to be protected with high-quality coverage that lasts for an entire year. Even if you're not using your boat while it's in storage for the winter, it's still important to protect yourself against fire, theft, vandalism and even liability.

Can I get a discount for taking a safety class?

Yes, you can. Find a class through the Coast Guard Auxiliary, U.S. Power Squadrons or the National Association of State Boating Law Administrators (NASBLA).

What if I need to have my boat towed in an emergency?

If your policy includes physical damage coverage, we’ll pay up to $500 to cover the cost of on-water towing.

Can I get liability coverage for the people I take out fishing on my charter boat?

Safeco insures personal use boats and PWC only. We do not insure watercraft used for commercial or business purposes.

How is the agreed value of my boat determined?

The agreed value of your boat is determined by consulting a local dealer, BUC guide, ABOS Blue Book or NADA guide. If your boat is less than two years old, a bill of sale may be used. Any permanently attached equipment—like ship-to-shore radios, depth finders, loran and GPS systems, fish finders, radar and sonar systems—is included in the boat’s value so make sure your coverage amount takes that into account. Also websites like IBoats,, and Boat Trader can help you to get a sense of your boat’s value. Ask yourself the question “If I were in the market to buy my boat today, how much would I have to pay for it?” Your answer will give you a good sense of agreed value.

Why do I need boat insurance?

Most states do not require you to have boat insurance. However, boat insurance offers protection from theft and liability in case of an accident. If you get a loan to pay for your boat, your lender will most likely require you to carry boat insurance. If you have homeowners insurance, your policy may provide only limited coverage for boats and probably doesn’t cover injuries or accidents while you're on the water. Many types of boats are probably excluded from coverage on your homeowners policy. To make sure you're covered for boat injuries like water skiing accidents, theft and damage, you’ll need boat insurance. If the other guy doesn’t have boat insurance, you’ll need coverage for uninsured and underinsured boaters. Talk to your local Safeco agent to find out more.

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© 2017 Liberty Mutual Insurance, 175 Berkeley Street, Boston, Massachusetts, 02116

Insurance is offered by Safeco Insurance Company of America and/or its affiliates, with their principal place of business at 175 Berkeley Street, Boston, Massachusetts, 02116. This website provides a simplified description of coverage. Nothing stated herein creates a contract. All statements made are subject to the provisions, exclusions, conditions and limitations of the applicable insurance policy. Please refer to actual policy forms for complete details regarding the coverage discussed. If the information in these materials conflicts with the policy language that it describes, the policy language prevails. Coverages and features not available in all states. Eligibility is subject to meeting applicable underwriting criteria.