Best Boat Insurance Companies of 2026

Boating accidents may be more common (and costly) than you think. With almost 12 million boats registered in the United States, boat accidents caused an estimated $67.5 million in property damages in one recent year, with 658 lives lost and 2,641 injuries reported.

And just like more common major purchases like a car or home, your boat should also be insured as an additional property. Without adequate boat insurance, you could end up paying out of pocket for any damage or injuries that occur as a result of an accident involving your vessel.

In this article, we’ll share some of our top choices for boat insurance companies, an honest assessment of pros and cons, and why they may be a good fit for different boat owners.

Our Picks: Top Boat Insurance Companies for 2026

To help you get an idea of the available coverage options you may need, this article covers some of the best boat insurance companies and policies. They are:

• Best Boat Insurance Overall: Progressive
• Best Boat Insurance for Value: Foremost
• Best Boat Insurance for Member Benefits: Ahoy! Insurance
• Best Boat Insurance for Yachts & High Dollar Vessels: Chubb
• Best Boat Insurance for Personal Watercraft: Markel
• Best Boat Insurance for Fishermen: Nationwide
• Best Boat Insurance for Charters & Rentals: Global Marine Insurance Agency

Best boat insurance overall: Progressive

Progressive boasts an A+ rating from AM Best and serves all 50 states, offering both business and personal coverage options. The carrier insures vessels up to 50ft long and $500,000 in value. A base liability policy starts at just $100 per year.

With more than 35 years of boat insurance experience, Progressive provides reliable coverage options for a wide range of boats and watercraft. The high number of boat insurance options and coverages they offer can make them an easy fit for virtually any boat owner looking to protect their investment.

Their diverse, balanced coverage options with reasonable rates earned them the spot as Best Boat Insurance Overall. Plus, they may offer discounts when you take safety courses, bundle policies, or transfer from another insurance company.  

Pros:	Cons:
Generous standard boat insurance policy	Standard policy doesn’t include uninsured/underinsured watercraft coverage
Several optional coverages to ensure your policy is the right fit

The standard Progressive boat insurance policy includes physical and liability protections for covered events like sinking, fire, theft, storms, collisions, capsizing, explosions, and stranding. Wreckage removal, fuel spill liability, roadside assistance, and water sports are included in the standard policy.

Progressive will insure almost any type of vessel, including jet skis, sport and speed boats, pontoon boats, fishing boats, sailboats, and yachts. They also offer several optional coverages, including total loss replacement, comprehensive and collision, uninsured/underinsured boater, medical payments, on-water towing, fishing equipment, and mechanical breakdown coverage.

Best boat insurance for customizable coverage: Foremost

Foremost offers three different tiered boat insurance packages, including Saver, Plus, and Elite. The carrier offers specialized coverage for pontoon, classic, and performance boats. Customers can also get affordable boat insurance for their personal watercraft from Foremost.

Pros:	Cons:
Boat insurance policies include towing and roadside assistance coverage	Fewer add-ons are offered compared to competitors
Personalized service is available from local agents	No mobile app claims reporting
24/7 boat claims service	Discounts and coverage options vary by state

In terms of added value, Foremost boat insurance packages include towing and roadside assistance coverage, which sets the carrier apart from others. If you're looking for customizable boat insurance, you're in luck with Foremost. The carrier allows customers to choose from the budget-friendly Saver package, the value Plus package, and the pricier Elite package, which includes all the extras you could want in your policy. 

Best boat insurance for member benefits: Ahoy! Insurance

Available in 44 states and the District of Columbia, Ahoy! Insurance is an up-and-comer in boat coverage. They’ve earned an excellent rating from AM Best, and their slogan “Built for boaters, by boaters” says it all. 

This upstart insurance provider was recently recognized by InsurTech Hartford as the Best Emerging InsurTech because they specialize in boat insurance, and their coverage options are competitive and feature tech-based benefits that power a supremely customer-oriented experience.

Pros:	Cons:
Cutting-edge technology for a better overall customer experience	Few opportunities for discounts or savings
A robust suite of coverages that comes standard

Ahoy!’s boat insurance package includes collision, comprehensive, uninsured/underinsured boater, liability, and medical coverages. Fishing equipment and personal effects (like your cell phone) are covered. Rental reimbursement, roadside assistance, on-water towing, and wreck removal are all included, and claims are processed 24/7.

As for member benefits, Ahoy!’s treasure lies in how they’ve embraced technology to improve the customer experience. Policies come with a mobile app with real-time safety alerts, an online interface, and a boat recovery assistance tag, which shows your boat’s location when activated, aiding in retrieval if your boat is stolen.

With Ahoy!’s mobile app, you can get real-time safety alerts for over- and underwater hazards, update your information, and get help filing a claim. It also allows you to self-inspect your boat and earn a vanishing deductible. Online, you can view your policy details, change payment information, and complete mid-term adjustments with ease.

Best boat insurance for yachts & high-value vessels: Chubb

Chubb's Masterpiece Yacht plan covers vessels that are 36ft or longer and worth up to $3 million or more, making it our top pick for the best yacht insurance, luxury boat insurance, and high-value boat insurance all in one. Chubb's Masterpiece Yacht Preference is an upgraded policy for boats 70ft or longer and includes liability coverage for your captain and crew.

Chubb covers these valuable vessels with agreed-value loss settlement, emergency towing, wreck removal, and pet injury coverage. Other standard coverages, such as medical payments, are also included.

Pros:	Cons:
Excellent customer service ratings	Coverage may be too thorough for regular boats
Offers tailored coverage for yachts and other expensive vessels	No online quotes offered
Superior coverage options compared to competitors

Trailer coverage of $5,000 or more is also available. As an added bonus, you can even get coverage to protect your boat against storm damage or environmental damage. Chubb also offers substitute watercraft coverage as a perk.

A worthy alternative mention is PURE Insurance. This carrier offers quality boat insurance for high-net-worth members with low claims histories.

Best boat insurance for personal watercraft: Markel

Markel offers several types of personal watercraft insurance, including jet ski insurance, Sea-Doo insurance, and WaveRunner insurance. New replacement cost coverage is available for PWCs under three years old.

Pros:	Cons:
Excellent customer service ratings	Not many discounts advertised
Great coverage for personal watercraft	Can't bundle coverage with home or auto insurance
Offers several coverage options for regular boats

Markel's policies start at just $100 per year. The carrier's full replacement cost coverage will pay to replace your personal watercraft (PWC) with a new model of the same type and quality if it's destroyed. Further, the carrier offers an ice and freezing damage coverage option to protect your engine if it still freezes despite proper winterization of your watercraft.

Another added bonus is that Markel's coverage can pay for damage caused by normal wear and tear of your PWC that leads to a collision, fire, or explosion under its consequential damage insurance. This special coverage is included in all Markel watercraft policies, which really sets the carrier apart from competitors in this category.

Best boat insurance for fishermen: Nationwide

With fishing-friendly boat insurance options, Nationwide also secured the spot as the best insurer for fishermen. They have almost a century of insurance experience and insure bass boats, sailboats, and many more types of smaller commercial fishing vessels up to $350,000 in value.

Pros:	Cons:
A thorough collection of coverages included in the base policy	Roadside assistance, on-water towing, and personal effects insurance not included in base policy
An insurance package tailored to the needs of fishermen	Only insures vessels valued up to $350,000

Nationwide’s base policy includes liability, collision, comprehensive, medical, and underinsured/uninsured boater coverages, with personal effects, roadside assistance, and on-water towing and labor available as add-ons. They also offer an array of discounts, including multi-policy and boater safety course discounts, and claims-free renewal savings.

Fishermen, in particular, might appreciate Nationwide’s insurance packages, which include coverage for fishing equipment, towing, and personal effects. Limits for fishing equipment coverage range from $1,000 to $10,000, depending on the package, so it’s easy to find one that fits your needs. If you insure your boat trailer, Nationwide includes roadside assistance at no extra cost.

Best boat insurance for charters & rentals: Global Marine Insurance Agency

If you own a charter boat or rent out your vessel, look no further than Global Marine Insurance Agency. Licensed in all 50 states and serving boaters since 1989, they specialize in boat and marine insurance. Their coverage includes property, general liability, protection and indemnity, and umbrella options.

Pros:	Cons:
Offers coverage tailored exclusively for charters and rentals	Little information available about pricing online
Multiple discounts available	Only four locations in the U.S., so finding a local agent may be difficult

Global Marine Insurance Agency policies cover your boat’s hull, engine, and navigation and other equipment, usually to the agreed value (which means you don’t have to worry about depreciation). They also include general liability and protection and indemnity coverage for losses arising from services rendered, products sold, and events such as fuel spills.

Not only does Global Marine protect your finances with reliable coverage, but they may also help you save money with discounts for things like lay-up time, completing safety courses, or even safe driving habits.

How We Select the Best Boat Insurance Companies

To compile this list, we compared boat insurance options from several leading national insurers and partners. We weighed factors such as each insurer’s AM Best financial strength ratings, customer testimonials, standard policy inclusions, optional add-ons and endorsements, discount opportunities, unique features, maximum vessel size and value limits, claim reputation, and the range of coverage types to meet the needs of consumers in specific categories. 

Each carrier's unique features for specialized boater profiles (e.g., fishermen, PWC owners, and charter operators) were also considered.

For boat insurance you can rely on, choose InsuredBetter to connect you with the coverage options that best meet your needs and your budget, from reliable, highly rated insurers.

What to Look for in a Boat Insurance Company

When asking how to choose boat insurance, you'll want to consider several factors about each carrier that offers coverage in your area. Take all of the following into account when conducting your boat insurance comparison:

• AM Best ratings: Look for a rating of "A" or better when evaluating a carrier's financial strength.
• Agreed value vs. actual cash value: You'll typically want an agreed hull value policy instead of an ACV policy to ensure you'll receive the maximum payout in the event of a total loss.
• Standard coverage vs. add-ons: Evaluate each carrier's included coverage across all boat policies, as well as optional endorsements and add-ons, and how they stack up against competitors.
• Discount availability: To help keep your premium rates low, research each carrier's list of advertised boat insurance discounts and how much you'll be able to save on your coverage.
• Vessel type and size limits: It's critical to ensure that the carrier you choose offers coverage for your specific boat. Be sure to compare size and value restrictions from each carrier before selecting your policy.

Independent insurance agents can conduct multi-carrier comparisons on your behalf at no extra cost. They'll shop and compare boat insurance quotes and policy options from several insurers near you to find the best overall blend of coverage and cost.

What Does Boat Insurance Cover?

A standard boat insurance policy includes coverage for physical damage to your vessel, liability exposures, injuries, and more. You can typically find the following types of coverage in a standard boat insurance policy:

• Collision damage: This coverage includes repair or replacement of your boat due to damage from a collision, but may not include cleanup of wreckage unless you purchase optional additional coverage.
• Property damage liability: This can help cover damage that you cause to someone else’s boat or other personal property and structures.
• Bodily injury liability: This helps cover the costs of injuries you cause someone else while using your boat. It includes medical bills, lost income, pain and suffering, and legal expenses.
• Comprehensive: This can provide compensation if your boat is vandalized, stolen, or damaged in an incident other than a collision.
• Personal effects: This covers your personal property and gear kept aboard your vessel, such as clothing, cell phones, etc., against theft, vandalism, and destruction. 
• Medical payments: This covers the cost of injuries to you and your passengers after a boating accident, regardless of fault.
• Towing assistance: This covers the cost of towing, jump-starts, fuel delivery, and other professional on-water assistance services if your vessel becomes disabled. 

Many boat insurance policies exclude coverage for wear and tear, corrosion, manufacturer defects, racing, and commercial use without a proper endorsement. 

How Much Does Boat Insurance Cost in 2026?

So, how much is boat insurance in 2026? Many boat insurance policies cost an average of $200-$500 per year for liability coverage alone. Typically, a boat insurance policy costs an average of 1%-5% of your boat's full value if you get comprehensive coverage. 

Coastal states tend to pay more for boat insurance, on average. For example, Florida's average boat insurance cost is $450 per year, while Texas's is $440 per year. A local independent insurance agent can also help you compare boat insurance costs by state.

How to Save on Boat Insurance

There are several easy strategies that can help you save a lot on your boat insurance, including completing a U.S. Coast Guard-approved boating safety course for an average discount of 5%-15%. You can also bundle your boat insurance with another policy, such as homeowners insurance or auto insurance, through the same carrier to save about 5%-25%. 

Other options include paying your premium in full, maintaining a claims-free record, and choosing seasonal lay-up coverage for the off-season months. 

FAQs About the Best Boat Insurance Companies

An Independent Insurance Agent Can Help You Find the Best Boat Insurance

When you're ready to get coverage from the best boat insurance company, no one's better equipped to help than a local independent insurance agent. These agents have access to multiple boat insurance carriers in your area, so they're free to shop and compare quotes and coverage options to find the best deal. And down the road, your agent can also help you file boat insurance claims and update your coverage when necessary.