Frequently asked questions

  • How much coverage do I need?
    There isn't a good answer to this question. Each boat, person, location, and situation is different. There isn't a good way to give a "ballpark" figure for how much coverage you need. It is best to evaluate your comfortable level of risk when protecting your boat, assets, and passengers. Your best option is to call our watercraft insurance specialists at +1.866.936.1879 to discuss the best coverage for you.

  • What is the difference between boat insurance and yacht insurance?

    Boat insurance is typically for boats 26’ or less while yacht insurance is for boats 26’ or more. The coverages available for yachts vs. boats also varies. To learn more about the specific coverages available, please read more about boat insurance and yacht insurance.

  • I live on my yacht. Am I covered?
    We can cover that! Our yacht insurance covers a wide variety of yachts, for a number of different uses: pleasure, live-aboard, bareboat, limited charter, or even when there are multiple owners. Contact your Markel Specialty marine agent to learn more.

  • Do I need to insure my boat or yacht in the winter?
    It may seem that since you don't use your yacht or boat  in the winter you don't need to insure it. This is a risky way of looking at insurance, and one that we have seen cost far too many people far too much money. Your watercraft is at risk for damages at all times of the year, not only when it's on the water. For example, if your yacht or boat is placed in storage for the winter and it is damaged, you will not have any assistance in paying for those repairs without an active insurance policy.

  • What kind of fishing equipment is covered?
    Your rods, reels, and tackle are automatically covered under your personal effects coverage, up to the limit purchased. If that coverage isn't sufficient, our fishing equipment coverage provides protection at replacement cost. Please contact one of our marine insurance specialists at +1.866.936.1879 to find out more.

  • Isn’t my boat covered under my homeowner’s policy?
    Probably, but most likely it is not properly covered. When you insure your boat with Markel Specialty, you’ll get all of the extras that many other insurance policies (like your homeowners insurance) don’t offer. Our boat insurance coverage includes such things as water-sport liability, medical payments coverage and diminishing deductibles – coverages your homeowner’s insurance company may not even offer. Read more about our boat insurance coverage to see the coverage options that are available to you.

  • Does it cost more if my kids waterski?
    No way! We know that is one of the main reasons people buy boats, so we're certainly not going to charge you extra for it.

  • What is Marine Tradesman?
    There are unique risks to owning a business and owning a commercial marine business is no exception. Markel Specialty understands these risks and for over 35 years have been insurance marine businesses like yours with our Marine Tradesman coverage. Markel Specialty's Marine Tradesman program is insurance protection designed to protect your marine business, whether it be a boat school, watercraft rental operation, charter boat, boat club, or anything in between. Contact a marine specialist to learn more today!

  • How long has Markel Specialty been insuring boats?

    We understand the lure of the water because we’re boaters just like you. What’s more, we’ve been boat insurance specialists for over 35 years. Needless to say, we know a thing or two about boats and, of course, watercraft insurance. And that means a whole lot of peace of mind for you.

  • How do I file a claim?
    We understand that no one wants to file a claim. That's why we do everything we can to make the process as painless as possible. You may simply submit your watercraft insurance claim online or call us at +1.866.936.1879 and we'll take it from there!

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 +1.866.936.1879.

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, Incorporated or USAA of Texas Insurance Agency (collectively the “Agency”). California License #0D78305, Texas License #7096. 9800 Fredericksburg Road, San Antonio, Texas 78288. The Agency contracts with insurance carriers that are not affiliated with USAA and offers products and services (“third-party insurance products”) on their behalf. Third-party insurance products are not underwritten by USAA or its affiliates. The Agency receives a commission on the sale or renewal of third-party insurance products and may receive other performance-based compensation from them. Purchase of third-party insurance products does not establish USAA membership. Product and coverage descriptions are brief. All coverages are subject to the terms and conditions of your policy. Read your policy for details. Product and coverage availability may vary in some locations and all applications for insurance are subject to underwriting by the insurance carrier. 258370 – 1221

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