How much coverage do I need?
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’s best to evaluate your comfortable level of risk when protecting your boat, assets and passengers. Your best option is to call our boat insurance specialists at +1.800.236.2453 to discuss the best coverage for you.
I have two boats. Can they be on the same policy?
Yes, multiple units can be added to your boat insurance policy provided both boats are in the same state. If your boats are in two different states, two policies may be required. Please give a boat insurance specialist a call at +1.800.236.2453 to learn more.
Does Markel offer any boat insurance discounts?
Yes, we are always looking for ways to save you money. We offer a variety of boat insurance discounts, saving you up to 35%.
- Experience boater discount (for boaters with over five years of experience)
- Multiple units discount for all units on the same policy
- Outboard propulsion discount
- Older operator discount (for those 40 or over)
- Diesel engine discount
We also offer a diminishing deductible program. For each consecutive accident-free year, your deductible will decrease by 25%, all the way to zero after four years for a savings of more than $1,000.
My boat is older. Do you insure older boats?
All ages of boats fall into our boat insurance program. If you are still unsure if your boat will qualify for our boat insurance coverage, give one of our boat insurance specialists a call at +1.800.236.2453 to discuss the best coverage for you and your boat.
Does Markel boat insurance cover normal wear and tear of my boat?
Most insurance policies will not cover normal wear and tear and deterioration or the resulting damage. However, if your boat is damaged from fire, explosion, sinking, collision or stranding, you may be protected under our consequential damage coverage.
Also, if you purchase our optional ultimate drive coverage, it will provide coverage for your boat in the event of a mechanical breakdown due to wear and tear or defect of the outboard or sterndrive.
My boat is in a corporation’s name. Can I still insure it with you?
Absolutely! Our boat insurance policy will cover corporately titled boats, for both personal use and client entertainment.
Is my boat trailer covered?
Up to $7,500 worth of coverage can be purchased, providing coverage for your boat trailer.
Does Markel offer watersport liability?
Watersport liability is automatically included with our watercraft liability on most boat types that can participate in watersport activities (i.e., coverage is not included for certain types like airboats, hovercrafts, homemade/kit boats, inflatable boats or high performance cat and vee boats). Our watersport liability coverage provides insurance protection to those individuals participating in most watersport activities on the insured boat.
My engine block froze and cracked, is that covered?
Most insurance carriers will not cover damage caused by ice and/or freezing. Luckily for you, we offer an ice and freezing protection you can add to your policy to help protect you. If you contracted with a commercial marine or repair facility for necessary winterization maintenance and your boat sustains damage from the chilly winter conditions while being “winterized,” the damages to your boat may be covered.
Does it cost more if my kids waterski?
No, we know that’s one of the main reasons people buy boats, so we're certainly not going to charge you extra for it.
Do you cover unique boats?
We offer coverage for various kinds of unique boats that other insurers may shy away from, including high performance boats, airboats, hovercraft, etc. Not sure if your watercraft will be covered? Give us a call at +1.800.236.2453 to speak with one of our boat insurance specialists.
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 insurance protection at replacement cost.
How long has Markel been insuring boats?
We’ve been boat insurance specialists for over 45 years and understand the lure of the water because we’re boaters like you. We know a thing or two about boats and, of course, boat insurance.
Do I need to insure my boat in the winter?
It may seem that since you don't use your 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 boat is at risk for damages at all times of the year, not only when it's on the water. For example, if your boat is placed in storage for the winter and it is damaged, you will not have any assistance paying for those repairs without an active insurance policy.