Boat Insurance

Boat Insurance

Fishing/bass boats, pontoons, runabouts, ski/wake boat cruisers, houseboats, sailboats, personal watercraft (PWC), boats/yachts up to $3,000,000 in value. If you don’t see your boat listed, ask us. We will find a market for it.

Know Your Boat Insurance Coverage
What can my Boat Insurance cover?
  • Hull & Trailer
  • Comprehensive and Collision
  • Medical Payments
  • Liability
  • Towing
  • Fishing Equipment
  • Personal Effects
  • Wreck Removal
  • Environmental Damage
What is likely excluded from my Boat Insurance?
  • Wear and Tear
  • Intentional Acts
  • Business & Charter use
  • Racing
Content is for educational purposes only and is not an offer of coverage. Please read and understand your specific policy coverage and exclusions.

Insurance Tips

What to consider when selecting your coverage.

  • The loss settlement choice between Actual Cash Value / Agreed Value / Total Loss Replacement.
  • Coverage for Personal Effects / Fishing & Water Sports Equipment / Permanently Attached Equipment.
  • On-Water Towing & Roadside Assistance so you aren't stranded.
  • Mechanical Breakdown Coverage for the engine and lower unit.
  • Liability coverage for Environmental Damage and Pollution Cleanup.

Claims Story

After a long trip to Texas, John made it back to Minnesota and was ready to enjoy his new Mastercraft wakeboarding boat on Lake Minnetonka. When the weekend had come to an end, John secured his boat in the slip. Having such a great weekend on the lake, John was already thinking about boating again next weekend.
Well, what happened later that night would alter John's plans.
Let's fast forward to Monday morning. John is sitting at work when his phone rings. John reaches into his pocket and sees a number he recognizes, but isn't programmed into his phone, so he answers it.
"Hello", said John.
"Hi, John, this is the marine manager on Lake Minnetonka. I'm calling to let there has been an issue with your boat. As you may already know, late Sunday night we had one of those Minnesota storms that came from out of nowhere." John started getting nervous, hands sweating and that sick feeling started to fill his stomach.
"Well, the surge from the storm flooded the boat, which caused the bilge pump to become overwhelmed and caused your boat to sink. You'll need to make arrangements to get your boat recovered from the bottom of the lake."
Feeling overwhelmed and devastated, John called his insurance agent from Options Insurance.
As John described what had happened, Tom, John's insurance agent, promptly put a plan into action. Tom was able to get John connected with a recovery service to get the boat towed to the nearest access and sent an adjustor out to view the damage. The boat was a was a total loss, but John was covered. Options Insurance sent a check for the amount he paid for the Mastercraft that week.
John was able to find a Malibu boat that would replace his Mastercraft the following weekend.
Summer wasn’t a bust after all!

Lesson Learned

A lot of things went right with this claim. It didn’t happen by accident. We spent time with this client up front to understand his needs. After we had a grasp on his intentions we recommended a suitable insurance solution. If you think all boat insurance is created equal, you’re at the wrong place. We know there are vast differences in boat policies. That’s why we’re independent and offer you the power of choice.

Boat Insurance Coverage's

We can help make your time on the water relaxed and worry-free! We will find you comprehensive protection that protects you, your friends and family, your watercraft and your boating equipment. The average boat costs less than a dollar a day to insure. You’ll enjoy being on the water even more when you aren’t worried about your safety, the safety your passengers, or your investment.

Do you know what to look for in a watercraft insurance policy? We can help you determine the right amount of coverage to meet your specific needs. Here are some items you’ll need to consider when shopping for boat.

Navigational Area:
Know where you are covered in the water. Some companies offer protection that covers you up to 75 miles from the U.S. coastline; into Canadian coastal or inland waters; and into the Pacific coastal waters of Mexico. In California, Florida and Oregon, additional coverage area can be purchased.

• Agreed Value Coverage:
Watercrafts depreciate just like automobiles. Actual cash value policies can make it difficult to replace a boat that’s been stolen or destroyed. This means that if your boat is a total loss you will get the value you insured it for, minus any deductible.

• Liability
Like car insurance, personal liability coverage provides coverage to other boaters and boat owners in the event you are at-fault for an accident on the water. This coverage will pay to repair or replace the property of someone else as well as for their medical care, lost wages and other costs incurred as a result of a boating accident for which you are at-fault.

• Medical Payments
Medical payments coverage will pay for the cost of needed care that is the result of a boating accident. This coverage is available from $500 to $10,000 and covers you, your passengers, and even your water skiers/tubers, regardless of who is at-fault.

• Physical Damage Coverage
Physical damage coverage pays for the cost to repair or replace your watercraft, its motor, any permanently attached equipment, and your trailer, if it is stolen or damaged.

• Uninsured/Underinsured Watercraft Bodily Injury
Since boat coverage is not always mandatory, many boaters choose not to get insurance. If you are hit by an uninsured or underinsured boater, and you are injured, this type of coverage pays for medical treatment, lost wages, and other costs associated with the accident.

• Fuel Spill Liability and Wreckage Removal
Should your boat sink or be seriously damaged, there is a chance that it could leak oil or fuel into the water. As the boat’s owner you are required by law to have this cleaned up, which can be time consuming and expensive.

• Personal Effects
Your policy can provide coverage for many personal effects, including clothing, jewelry, cell phones, scuba/snorkeling and other sporting equipment, and fishing equipment. Limits vary by state – check with us for information. Personal effects coverage does not include jewelry, watches or furs.

• Unattached Equipment Coverage
This pays to repair or replace equipment that isn’t permanently attached to your boat or personal watercraft, but is designed for use primarily on a boat. This includes items like lifesaving equipment, water skis, anchors, oars, fire extinguishers, tarps etc.

• Emergency Assistance
The Emergency Assistance Package provides coverage for towing, labor and delivery of gas, oil or loaned battery if the watercraft is disabled while on the water.
Every need is unique – contact us to find out how to get the best boat and watercraft insurance coverage for you.

Boat Insurance Discounts

Multi-Boat, Multi-Policy, Years of Boating Experience, Claims Free, Violation Free, Prior Insurance, Advance Quote, Association Discount, Safety Course, Paid in Full and EFT Payment.

Why Choose Us?

We go beyond asking you for the hull ID and sending you a quote.

We’ll take the time up front to ask questions like:

  • How will you use your boat? Where will you use it?
  • What do you bring with you on the water?

Living in Minnesota we understand your boat may be your passion.

It’s important to us to ask probing questions to lead to appropriate coverage selections. We help you buy the right coverage for you so you’re prepared if you ever need to file a claim.