boats and yachts

Boat & Yacht Insurance

Towne Insurance can help make your time on the water relaxed and worry-free! We will find you comprehensive protection that protects 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.

Do you know what to look for in a watercraft insurance policy? 
Your Watercraft insurance coverage is most often made up of the specific options you choose, including:

Navigational Area
Know where you are covered in the water. Some companies offer 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. 

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. Agreed Value means that if your boat is a total loss you will get the value you insured it for, minus any deductible. 

Like car 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.

Medical Payments
Medical payments coverage will pay for the cost of needed care that is the result of a boating accident. This coverage is typically available from $500 to $10,000 and covers you, your passengers, and even your water skiers/tubers, regardless of who is at-fault.

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/Underinsured Watercraft Bodily Injury
Since boat coverage is not always mandatory, many boaters choose not to get insurance. If you are hit by an uninsured or underinsured boater, and you are injured, this type of 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.

Personal Effects
Your policy can provide coverage for many personal effects, including: 

  • clothing
  • cell phones
  • scuba/snorkeling and other sporting equipment
  • fishing equipment
  • Personal effects coverage does not include jewelry, 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

Emergency Assistance
Some boat insurance polices may provide coverage for towing, labor and delivery of gas, oil or loaned battery if the watercraft is disabled while on the water.

Important: This is merely an introduction to complex policy coverages. Be sure to contact Towne Insurance for detailed insurance information.

Request a Quote Now


Towne Insurance can help you determine the right amount of coverage to meet your specific needs. Just give us a call today at 800-486-4611 or request a quote to get started.


*Raise My Rate CD: The interest rate on your account is 1.59% with an annual percentage yield of 1.60%. One time during the term of your account, at your election and upon our actual receipt of written notice from you, we will change the interest rate on your account to the interest rate we offer then on accounts of a similar term (36 months) for the remaining term of your account. Determination of Rate: The rate in effect on the renewal date. Frequency of Rate Changes: We can change the interest rate on your account every 36 months.

^Stated APYs (Annual Percentage Yields) are effective as of October 10, 2017. Minimum deposit of $1,000 is required to open and earn the stated APYs. Maximum deposit of $249,999 (per owner). Early withdrawal penalties apply.