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Get to know your boat and watercraft coverage options

Be it a speed- or sailboat, a jet-ski or fishing rig, we’re here to help you protect one of your biggest and most prized investments. Learn more about the boat and watercraft coverages we offer below, then contact your local independent agent to discuss the right coverage for you.

Coverage Real-life scenario Standard Optional
Agreed Value Coverage If your boat/watercraft is declared a total loss, you will receive the total amount agreed upon with Safeco to replace it.1 Yes
Emergency Assistance Package Emergency assistance for boats/watercrafts and personal watercraft, will reimburse you for the cost of on-water towing, labor and emergency services like delivery of fuel, oil or a loaned battery if your boat is disabled while on the water. (Considered Standard when Physical Damage Coverage is also selected.)2 Yes
Fuel Spill and Wreckage Removal Coverage Covers cost related to cleaning up fuel spills and removal of accident wreckage. This coverage comes standard with liability.3 Yes
Navigational Territory Covers you and your boat up to 75 miles from the U.S. coastline and into Canadian coastal or inland waters.4 Yes
Personal Effects Coverage Covers fishing gear and other personal property on your boat/watercraft. (Considered Standard when Physical Damage Coverage is also selected.)5 Yes
Physical Damage Coverage Helps pay for the cost to repair/replace the boat/watercraft, its motor, any permanently attached equipment, and your trailer up to the agreed value of your boat/watercraft.6 Yes

We offer so many more coverage options at Safeco. Connect with a licensed independent agent near you to determine the best coverage options for your boat or watercraft vehicle.

You could save money with Safeco’s boat discounts7

Be a safe boater

You’ll save up to 15% on your premiums when you complete a boating safety course offered by the Coast Guard Auxiliary or U.S. Power Squadron.

Boat Ownership Credit

You can save up to 5% on your premiums if you've owned any boat for two or more years.

Bundle and Save

You qualify for a discount when you insure more than one vessel or carry an auto, motorcycle, home, condo, or renters policy with Safeco.

Safeco® Captain's Package Coverage

Set sail with peace of mind when you enroll in the Safeco Captain's Package8. Benefits include:

Ask an agent about it today to learn more.

Common boat and watercraft insurance questions

Looking for answers? Browse the most frequently asked questions below, or contact your agent to discuss Safeco boat and watercraft insurance today.

Is boat insurance required?

Boat and personal watercraft insurance offers protection from theft, damage, and liability in case of an accident or injury experienced while using your boat. It can also protect you against damage or injury caused by another boater who may be uninsured or underinsured.

Though boat insurance is optional in many states, if you get a loan to pay for your boat, your lender will most likely require you to have boat coverage. Talk to your local independent agent to learn more.

Is your boat covered by your homeowners policy?

Most likely, no. The homeowners policy provides liability coverage for low-horsepower outboard-motor-powered boats. If you have a jet drive, inboard outdrive, or stern drive boat, you would receive no coverage from the homeowners policy.

Your homeowners policy also does not offer coverage for pollution liability, wreckage removal, damage to your boat, towing, emergency assistance, and many of the other great coverages a Safeco watercraft policy provides. Talk with your local independent agent to make sure you understand your risks.

Should you insure your boat even if you only use it seasonally?

Yes. Even if you use your boat only a few months out of the year, it's still important to protect yourself against fire, theft, vandalism, and even liability while your boat is in storage.

Fortunately, quality coverage is affordable. Plus, your policy premium also considers the length of the boating season in your state.

Does Safeco offer Actual Cash Value (ACV) coverage on watercraft?

No, we do not. All watercraft polices with physical damage coverage are insured for agreed value, which means you receive that agreed-upon amount if your watercraft is deemed a total loss due to theft, sinking, collision, etc.

With ACV coverage, your boat is subject to depreciation and you likely wouldn’t be able to replace your boat with the depreciated settlement amount. Watercraft maintain their value for a long time, so it makes sense to have agreed value coverage.

What if I’m hit by an underinsured or uninsured driver?

We offer protection against the cost of injuries or damage you may experience as a result of an accident caused by an uninsured motorist. The question is: how much coverage would you want to be available if you’re injured?

When selecting your coverage amount, remember that uninsured boater coverage will pay for things your health insurance won't, like pain and suffering, lost wages and treatments that medical insurance doesn’t deem necessary. You cannot select more uninsured boater coverage than you have in bodily injury coverage.

  1. Availability varies by state.
  2. Availability varies by state. Coverage provided on the Physical Damage Coverage. Limits apply.
  3. Availability varies by state. Terms and conditions apply.
  4. Availability varies by state. Additional coverage areas can be purchased. Limits apply.
  5. Availability varies by state. Subject to deductible. Conditions and limits apply.
  6. Availability varies by state. Limits apply.
  7. Discounts and savings are available where state laws and regulations allow, and may vary by state. Certain discounts apply to specific coverages only. To the extent permitted by law, applicants are individually underwritten; not all applicants may qualify.
  8. Availability varies by state. Subject to deductible. Limits apply.
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