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Ask an Agent: What is Boat Insurance?

Published: July 2016

Boat insurance typically helps provide protection for boats and equipment. For instance, it may help pay to repair or replace your boat if it's damaged or stolen. Boat insurance usually also provides liability protection, which may help prevent you from paying out of pocket if you're found responsible for damages resulting from an accident involving your boat.

When a customer mentioned to Allstate agent Lincoln Salmon that he'd bought a boat, he initially wasn't sure he needed a boat insurance policy. His decision to purchase a policy later paid off after his boat was stolen from his yard. Learn more about this story in the video below.

Video Transcript

(Voiceover): Hi, I'm Lincoln Salmon and I'm an Allstate agency owner in Oviedo, Florida. I'm here to talk about boat insurance. Boat insurance typically helps protect the boat itself from certain risks, such as fire or theft. It also usually includes liability protection for the driver.

I helped this one customer who purchased a small secondhand fishing boat for $9,000.

We only found out he had a boat when he talked about going out fishing on the weekend. He told us, ‘It's just a little boat, no one will steal it.' So he said he didn't need boat insurance. But after I explained the potential benefits of boat insurance, he decided to buy coverage.

It was a good thing he did, because one winter the boat was stolen from his yard.

There was an electronic fish finder on board, and equipment such as life jackets, and all that was taken along with the boat.

The boat was insured for $9,000. He also had some coverage for additional equipment. After the theft, he filed a claim. He paid a $500 deductible and his policy paid out about $9,100. That covered the value of the boat and equipment.

Without insurance, this customer would have lost all of the money he'd invested in his boat.


An Allstate agent can answer coverage questions and help you find ways to protect what matters most.

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This content is for informational purposes only and may not be applicable to all situations.

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