Frequently Asked Questions
Boat and personal watercraft insurance offers protection from theft, damage, and liability in case of an accident or injury experienced while using your boat. It can also protect you against damage or injury caused by another boater who may be uninsured or underinsured. Though boat insurance is optional in many states, if you get a loan to pay for your boat, your lender will most likely require you to have boat coverage. Talk to your local independent agent
to learn more.
Most likely, no. The homeowners policy provides liability coverage for low-horsepower outboard-motor-powered boats. If you have a jet drive, inboard outdrive, or stern drive boat, you would receive no coverage from the homeowners policy. Your homeowners policy also does not offer coverage for pollution liability, wreckage removal, damage to your boat, towing, emergency assistance, and many of the other great coverages a Safeco watercraft policy provides. Talk with your local independent agent
to make sure you understand your risks.
Safeco insures sailboats used for racing, but not powerboats designed or used for racing. Examples of ineligible boats include off-shore-style power boats, whether V-hull or catamaran hull, exposed-engine boats, or watercraft with three or more outboard motors.
Yes. Even if you use your boat only a few months out of the year, it's still important to protect yourself against fire, theft, vandalism, and even liability while your boat is in storage. Fortunately, quality coverage is affordable. The average boat premium costs only about a dollar a day. Plus, your policy premium also considers the length of the boating season in your state.
Yes. Many discounts are available. For example, you can save 15% on your premiums when you complete a boating safety course offered by the Coast Guard Auxiliary
or U.S. Power Squadron
. We also offer discounts for having a boat with a diesel engine, for owning a home, carrying multiple policies with Safeco, and having more than five years of boating experience, among other options. For a complete list of discounts and savings opportunities talk with your local independent agent
If your policy includes physical damage coverage, Safeco will pay up to $500 to cover the cost of on-water towing. Or, if you purchase the Captain’s Package, this amount is increased to $1,000.
All watercraft, regardless of age, type, or hull construction are insured at agreed value in the event of a total loss. Perhaps the simplest way to get a general idea of agreed value is to ask yourself: “If I wanted to buy my boat today, how much would I pay for it?” The more precise formula goes like this: The agreed value of your boat is determined by consulting a local dealer, BUC guide, ABOS Blue Book or NADA guide. Or, if your boat is less than two years old, a bill of sale may be used. Any permanently attached equipment - such as 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. (Excluding taxes and fees.)
Safeco has a broad appetite for boats. Primarily, we insure pleasure-use boats that are in good, or better, condition. We can insure many different types of boats, including run abouts, cabin & cuddy cruisers, bass & fishing boats, power boats, pontoon boats, sail boats, jet skis & jet boats, bow riders and more! Our maximum allowable speed is 85 miles-per-hour for fishing/bass boats and 65 miles-per-hour for all other boats. In most states, our maximum length is 40' and our maximum value is $350,000. However, our length and value guidelines vary by state.
No, we do not. All watercraft polices with physical damage coverage are insured for agreed value, which means you receive that agreed-upon amount if your watercraft is deemed a total loss due to theft, sinking, collision, etc. With ACV coverage, your boat is subject to deprecation and you likely wouldn’t be able to replace your boat with the depreciated settlement amount. Watercraft maintain their value for a long time, so it makes sense to have agreed value coverage.
This is a real risk when boating since boat insurance generally isn’t required! Safeco offers protection against the cost of injuries or damage you may experience as a result of an accident caused by an uninsured motorist. The question is how much coverage would you want to be available if you’re injured? When selecting your coverage amount, remember that uninsured boater coverage will pay for things your health insurance won't, like pain and suffering, lost wages and treatments that medical insurance doesn’t deem necessary. You cannot select more uninsured boater coverage than you have in bodily injury coverage.
Absolutely! We boaters were new once upon a time. Talk to your local independent agent
about the value of a Safeco watercraft policy. We also recommend taking a boating safety course. It will teach you fundamental skills and you'll also receive a discount on your Safeco premium.
As an experienced boater, you're familiar with the waters in your area and your boat, so Safeco offers discounts for those who have put in the time on the water. We even offer a discount if you’ve owned the same boat for a while.
Of course! We even offer a discount for having multiple boats on the same policy.
Your driving record doesn't have to be perfect to insure your boat with Safeco. If you have more than one or two incidents per operator, give your local independent agent
a call to discuss your eligibility for coverage.
Safeco generally doesn’t require a marine survey. We'll ask for one if your boat is both 16+ years old and 30+ feet in length. We'll also ask for one for wood hull boats that are over five years old. The survey can be completed in-water and it should have been completed within the last two years by an accredited surveyor.