Your Watercraft/Boat Insurance Coverage Options
SGB can help make your time on the water relaxed and worry-free! We offer comprehensive coverages that protect you, your friends and family, your watercraft and your boating equipment. The average boat costs less than a dollar a day to insure. You’ll enjoy being on the water even more when you aren’t worried about your safety, the safety your passengers, or your investment. Whether you tow your watercraft with your Car, Truck or Motorhome, don’t forget SGB can have your trailer covered too.
Full Coverage policies generally include:
Do you know where you are covered in the water? SGB can provide protection that covers you up to 75 miles from the U.S. coastline; into Canadian coastal or inland waters; and into the Pacific coastal waters of Mexico. In California, Florida and Oregon, additional coverage area can be purchased.
Agreed Value Coverage
Watercraft depreciate just like automobiles. Actual cash value policies can make it difficult to replace a boat that’s been stolen or destroyed. SGB provides Watercraft insurance policies that are agreed value for all types of watercraft, no matter how old. This means that if your boat is a total loss you will get the value you insured it for, minus any deductible.
Liability
Like auto insurance, personal liability coverage provides coverage to other boaters and boat owners in the event you are at-fault for an accident on the water.
This coverage will pay to repair or replace the property of someone else as well as for their medical care, lost wages and other costs incurred as a result of a boating accident for which you are at-fault.
For example, if you purchased $100,000 of liability coverage and were involved in a boating accident, your policy would pay up to $100,000 to repair the other party’s boat and any associated injuries for people in that boat.
Medical Payments
Medical payments coverage will pay for the cost of needed care that is the result of a boating accident. This coverage is available from $500 to $10,000 and covers you, your passengers, and even your water skiers/tubers, regardless of who is at-fault. For example, if you purchased $2,000 of coverage and you hit another boat and three people in your boat were injured, each injured person would have $2,000 available to cover associated medical costs.
Physical Damage Coverage
Physical damage coverage pays for the cost to repair or replace your watercraft, its motor, any permanently attached equipment, and your trailer, 
if it is stolen or damaged.
Uninsured/Under-insured Watercraft Bodily Injury
Since boat coverage is not mandatory, many boaters choose not to get insurance. If you are hit by an uninsured or under-insured boater, and you are injured, this coverage pays for medical treatment, lost wages, and other costs associated with the accident.
Fuel Spill Liability and Wreckage Removal
Should your boat sink or be seriously damaged, there is a chance that it could leak oil or fuel into the water. As the boat’s owner you are required by law to have this cleaned up, which can be time consuming and expensive. The good news is that your watercraft policy automatically includes this coverage. Your coverage will also pay reasonable costs to have your sunken or sinking boat raised and removed when required.
Personal Effects
SGB can provide coverage for many personal effects, including clothing, jewelry, cell phones, scuba/snorkeling and other sporting equipment, and fishing equipment. Basically anything that’s use is not limited strictly to a boat or boating is covered. Limits vary by state – check with your agent for information. Personal effects coverage does not include jewelery, watches or furs.
Unattached Equipment Coverage
This pays to repair or replace equipment that isn’t permanently attached to your boat or personal watercraft, but is designed for use primarily on a boat. This includes items like lifesaving equipment, water skis, anchors, oars, fire extinguishers, tarps etc. If physical damage coverage is purchased, your policy automatically includes Unattached Equipment coverage up to 10% of the hull value or $100, whichever is greater. Higher limits can be purchased for additional premium.
Emergency Assistance
The Emergency Assistance Package provides coverage for towing, labor and delivery of gas, oil or loaned battery if the watercraft is disabled while on the water.
Optional Coverages for your Watercraft
SGB also offers additional coverage options which can give you even greater protection and peace of mind knowing that you’re better prepared for the unexpected.
Ask Your Agent
Your independent SGB agent can help you find insurance that meets your specific needs. Here are a few things to discuss when you talk:
- Is my boat or watercraft covered for use year-round?
- Can I get discounts for taking safety classes, having multiple policies, and diesel power?
- Do I have coverage if I need to have my boat towed in an emergency?