Boat insurance coverages

If you love your boat, you’ll love our insurance.

No matter what kind of boat you have, Markel Specialty offers an extensive listing of coverages for you, your passengers, and your boat. Our boat insurance product is available for watercraft that are 26 feet or less in length. Have a larger boat? Check out our yacht insurance program.

Coverage for your boat

Watercraft physical damage protection
Watercraft hull and equipment coverage helps pay for repairs or replacement of your boat if it is damaged or stolen. We offer a range of deductibles and give you options to increase the deductible on your policy for a premium credit. Plus, for most boats, we will reduce your deductible by 25% for each consecutive year that you are loss free. So, if you boat safely, you could get that deductible down to zero in just four years!

Agreed value watercraft and equipment
When you purchase physical damage protection with an agreed value settlement option from Markel Specialty, you and Markel Specialty agree on the value of your boat. This agreed value is the amount that would be paid out should the cost of repairs to fix your boat equal the value of your boat. For situations involving partial losses, there is no deduction for depreciation.

Replacement cost coverage
This coverage is available on watercraft up to three years of age. We will pay for a new boat of the same make, class, size, and type in the event of a total loss, including theft.

Personal effects
Protection for your personal items on board, such as cell phones, audio equipment, cameras, water skis, and personal flotation devices.

Consequential damage
Even with the best maintenance plan, it is possible to miss something that could potentially cause a major loss. Most policies will not cover normal wear and tear and deterioration, or the resulting damage. However, with Markel Specialty, if your boat is damaged from a fire, explosion, sinking, collision or stranding, you will be protected.

Ice and freezing damage
If you paid for winterization services but find that they weren’t done properly and your engine block froze and cracked, we will cover the damage provided you contracted with a commercial marina or repair facility.

Ultimate drive coverage
Optional coverage that pays to repair or replace an outboard or sterndrive in the event of a mechanical breakdown due to wear and tear or defect.

Coverage for you

Watercraft liability
We help pay damages for bodily injury or property damage for which you are legally liable through ownership, maintenance, or use of your boat. This covers watersport activities for most hull types. Remember, watercraft liability won’t pay for your boat or your injuries. It is there to protect you and your assets from the costs associated with damages and injuries caused to others.

Pollution liability
Pollution liability coverage helps to cover the reasonable cost and expenses for which you are legally liable. This includes damage to property or cleanup resulting from unintentional spillage of a contaminant.

Medical payments
Helps to pay for necessary medical treatment resulting from an accident causing bodily injury to any person while in, upon boarding, or leaving your insured boat.

Uninsured boater
Uninsured boater coverage will help to pay for damages you or a family member are legally entitled to receive from an uninsured owner or operator of a watercraft (other than your watercraft), if bodily injury results from an accident while aboard. Since this coverage is included at no additional charge to you, their oversight won't become your problem.

Additional coverages for an extra layer of protection

Boat towing coverage
Each policy includes boat towing coverage that will reimburse the reasonable cost you may incur (up to the limit purchased), should you require commercial towing assistance:
  • Towing to the nearest facility where necessary repairs can be made.
  • Delivery of gas, oil, parts, or a loaned battery (excluding the cost of items themselves) or emergency labor, while away from safe harbor.

Boat lift coverage
Damage to your boat lift may not be covered under your homeowner's policy. As marine specialists, we believe this coverage should be available to everyone, and offer boat lift coverage to protect damage to your boat lift.

Fishing equipment coverage
Losing your fishing equipment can be devastating to your favorite pastime and your wallet. That's why we offer optional fishing equipment coverage, which can be added to any Markel Specialty boat insurance policy. This coverage provides replacement cost coverage for your fishing gear, including:

  • Rods and reels
  • Lures, rigs, and line
  • Tackle boxes
  • Depth finders
  • Trolling motors

Tournament fee reimbursement
Miss a tournament? We’ve got you covered. We know how disappointing it can be to miss out on a fishing tournament, especially when you've already paid the entry fee. Our tournament fee reimbursement, included with our fishing boat insurance coverage, refunds your entry fee if you are not able to participate in a scheduled tournament due to:

  • Bodily injury to you or a family member
  • Loss or damage to your fishing boat
  • Mechanical breakdown of your towing vehicle while en route to the tournament
Get paid to fish?
In addition to our fishing boat coverage, we offer another layer of liability protection for those fortunate enough to make fishing their career. Contact us for more information on coverage for paid guides, charter boats and more!




Insurance, coverage, and discounts are subject to availability and qualifications and may not be available in all states. Coverage descriptions listed are intended to be brief and do not replace actual policy language. For questions or a complete definition of coverages and discounts available to you, please call a Markel Specialty insurance specialist at 866-936-1879.
*Use of the term “member” or “membership” refers to membership in USAA Membership Services and does not convey any legal or ownership rights in USAA. Restrictions apply and are subject to change.

USAA Insurance Agency means USAA Insurance Agency, Inc., or USAA of Texas Insurance Agency. CA Lic. #0D78305, TX Lic. #7096. 9800 Fredericksburg Road, San Antonio, TX 78288. The agency represents third-party insurers that are not affiliated with USAA and provides services to you on their behalf. It receives a commission on the sale or renewal of third-party insurance products and may receive other performance-based compensation from them. Product availability may vary in some locations. 258370-1218

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