From a risk perspective, though, being out on the water is a lot like being out on the road in your car: Even if you're a safe driver, that doesn’t mean everyone else is. And Safeco watercraft insurance can help protect you.
According to the U.S. Coast Guard, there were more than 4,400 recreational boating accidents in 2016 (the latest year for which statistics are available). The financial cost of all that damage? About $49 million, or nearly $11,000 per incident—and that doesn't even include medical expenses for injuries. It doesn't include boat thefts, either, which usually result in a total loss.
Not all states require boat owners to have insurance, but those numbers show how important it is to have financial protections in place for liability, theft and more. In fact, we'd say the fact that insurance isn’t required in all states makes it even more important; with a lot of uninsured boaters out there, what would happen if one hit you?
With Safeco watercraft insurance, you won’t have to worry. Here are six reasons to choose Safeco:
- Insuring your boat costs less than you think. Believe it or not, the average boat costs just about a dollar a day to insure. That's a small price to pay for peace of mind.
- It's easy to qualify for discounts. You can save on your watercraft insurance when you complete an approved boating-safety course, or even just for having a boat powered by an inboard diesel engine. And if you have multiple policies with Safeco, that can mean additional savings.
- We offer agreed-value coverage. Instead of using a complicated depreciation formula that typically results in a lower payment if there's a total loss, you'll be paid based on the value we agreed upon when you bought your policy.
- We cover things you didn't think about. Did you know that in the event of an accident, you are required to have wreckage removed and clean up oil or fuel that leaked into the water? You could even be required to have a sunken boat raised. That can be expensive—but every Safeco watercraft policy includes coverage for these cleanup operations.
- Additional protection is available with the Captain's Package. Just a few extra dollars a month can get you a lot more coverage. Have a boat newer than two years old? We'll replace it with a new boat that matches the features and equipment as closely as possible. You'll also be covered with roadside assistance, along with increased limits for personal effects and emergency assistance.
- You can benefit from our single-loss deductible. Say a storm destroys your garage—and the boat you had inside. If you have Safeco watercraft and homeowners coverage, you'll only have to pay one deductible, no matter how many policies are affected. (If you had a Safeco-insured car in that garage, too, you'd still only pay one deductible.)
A Safeco Package includes a single loss deductible. In the event that a customer experiences a significant loss that is covered by their Safeco Home Policy, deductibles for other Safeco policies also affected may be waived once the home deductible is paid.