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Boat Insurance Made Simple

Learn about the key parts of a boat insurance policy.

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About Boat Insurance Deductibles

A deductible is the amount of money you agree to pay to help repair or replace your boat if you have a claim covered by your policy.

Sailboat sinking.

Example: A boat operator damages his watercraft in an accident and it will cost $5,000 to repair.

Boat operator has $500 deductible

Boat operator pays $500.

Insurance pays $4,500.



Bottom Line: Choosing a higher deductible means you might pay less for your insurance premium now, but you should be prepared to pay more out of your own pocket later if you have an accident.


About Boat Insurance Coverage Limits

Each coverage has a limit. If you have an accident claim covered by your Allstate policy, Allstate agrees to pay for damages up to that coverage's limit.

Ambulance driving.

Example: A boat operator causes an accident in which someone is injured. The case goes to a trial and there is a verdict of $57,000 to compensate the injured person.

SCENARIO 1
Boat operator has $50,000 per person limit for liability

Boat operator pays $7,000

Insurance pays $50,000

SCENARIO 2
Boat operator has $100,000 per person limit for liability

Boat operator pays $0

Insurance pays $57,000



Bottom Line: Choosing a higher limit means you might pay more for your insurance premium now, but it could help protect you from having to pay other people's damages later.


Please note that this website provides only a summary of boat insurance, written to illustrate in general terms how boat insurance works. Your insurance policy is the legal contract that contains the terms and limitations of your coverage. You should carefully review the contents of your policy. All products and coverages are subject to availability and limitations. Whether an accident or other loss is covered is subject to the terms and conditions of your insurance policy.

Coverage subject to terms, conditions and availability. Policy issuance is subject to qualifications. Allstate Property and Casualty Insurance Company, Allstate Fire and Casualty Insurance Company, Allstate Indemnity Company, Allstate New Jersey Property and Casualty Insurance Company. © 2017 Allstate Insurance Company, Northbrook, IL.

ECC Monitor: OK