What Should I Watch Out For When Buying A Used Boat
Before buying any boat it’s a good idea to double-check some of the more common, “bad boat,” indicators. These can be difficult to spot, but knowing what to search for is half the battle. Avoid any boats with the following defects:
In Situations Like These You May Be Covered For:
- Damage to another craft or dock
- Bodily injury or death to another person due to your negligence
- The negligence of another driver while using your PWC
- Towed water skiers or wake boarders who become injured using your craft
- Physical damage to the hull, machinery, and equipment
- Injury to you caused by an uninsured watercraft operator
- Towing assistance if you break down on the water
Common Reasons For Boat Insurance Claims To Be Denied
Boat insurance only covers events that are explicitly stated on the policy declaration. However, a claim might get denied even if your policy provides coverage for it. Here are some common reasons that may be the case:
- You were operating a boat under the influence of alcohol or drugs
- Not providing proper maintenance to your watercraft
- Damages or injuries that exceed policy limits
- Making mistakes in filing a claim
- Failing to safeguard your boat before a storm
- Using your boat for commercial purposes
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Get A Boat Insurance Policy To Protect Your Investment
Boat insurance helps you protect your boat or personal watercraft investment. So if you travel across lakes, rivers, or ocean waters of the United States we can help keep your peace of mind afloat. Whether you’re looking for a new boat insurance policy or just to save money on an existing policy, we can help you get started with a free boat insurance quote.
Make boating better, together. Experience and a name you can trust go a long way when you’re shopping for boat insurance. That’s why the GEICO Marine Insurance Company has teamed with BoatUS, the nation’s largest group of recreational boat owners. Since 1966, BoatUS has been helping to make boating safer, more affordable, and fun. Together, we share a passion for all things boating.
We all want cheap boat insurance rates, but customer service is what matters. Protect your investment with boat insurance you can count on and get your free online boat insurance quote today.
What Types Of Watercraft Are Covered By Boat Insurance
All boats aren’t the same. You need to customize your boat insurance to meet your needs and provide your watercraft with the proper coverage. Here is a list of the most common types of watercrafts.
- Pontoon boats are one of the most popular inland water boats. They are a flattish boat that relies on floats to remain buoyant. Their wide and spacious area is great for many passengers to enjoy the ride.
- Personal watercraft are powered by a water jet pump and the rider generally sits, stands, or kneels on it. There are many types of PWCs which include WaveRunners, Sea-Doos and more.
- Fishing and bass boats are designed and equipped for fishing. Most are powered by an outboard motor and are equipped with power poles, trolling motors, etc.
- Powerboats are the most popular type of boat used for cruising, watersports, and so much more.
- Sailboats are propelled partly or entirely by sails.
If you don’t see your watercraft listed and are looking for more information on different types of boats and insurance for boats, check out our boat FAQ page.
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Can I Add A Pwc To An Existing Boat Insurance Policy
No, your PWC will need its own insurance policy. You can get a personal watercraft insurance quote. It’s easy. We can help you find the right coverage.
Please note:
The above is meant as general information and as general policy descriptions to help you understand the different types of coverages. These descriptions do not refer to any specific contract of insurance and they do not modify any definitions, exclusions or any other provision expressly stated in any contracts of insurance. We encourage you to speak to your insurance representative and to read your policy contract to fully understand your coverages.
Some discounts, coverages, payment plans and features are not available in all states or in all situations. GEICO has teamed up with its subsidiary, BoatUS, to bring boaters a policy developed by experts, with the great service you expect from GEICO. Policies are underwritten by GEICO Marine Insurance Company. When you begin a quote, you’ll be taken to the BoatUS website for a secure boat quote. Any information you provide will be subject to the privacy policy posted on their website.
What Are Some Safety Tips For Using My Personal Watercraft
Research shows most accidents, injuries, and liability claims are due to a few specific problems. Knowing how to stay safe makes it more fun for everyone.
Please note:
The above is meant as general information and as general policy descriptions to help you understand the different types of coverages. These descriptions do not refer to any specific contract of insurance and they do not modify any definitions, exclusions or any other provision expressly stated in any contracts of insurance. We encourage you to speak to your insurance representative and to read your policy contract to fully understand your coverages.
Boat and PWC coverages are underwritten by GEICO Marine Insurance Company.
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Can I Call Geicos Phone Number To Buy Auto Insurance
If youre in the market for automobile insurance, you may be wondering if you can call the GEICO phone number to purchase a policy. The answer is yes. GEICO offers a variety of insurance options and coverage levels, so you can find a policy that fits your needs and budget. Plus, their customer service representatives are available 24/7 to answer any questions you may have about their policies.
Is Your Boat Eligible For Progressive Boat Insurance
Here are some of the rules typically used by Progressive to determine whether a boat is eligible for coverage:
- No watercraft with maximum speeds over 75 mph
- The boat cant have more than two engines , with some exceptions.
In addition to insurance for liability, boat damage, medical payments and uninsured boaters, Progressives boat insurance has the following options.
- Extensive options for coverage add-ons
- Water sports coverage
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Do You Need Boat Insurance
For the most part, having a marine insurance policy is optional. However, there are a few situations in which you do need boat insurance:
- Your state requires it: Only Arkansas and Utah require boaters to have insurance. If you store your boat in either of these states, youll have to meet the minimum requirements.
- Your marina requires it: Some marinas require liability coverage. Geico sells policies that are meant to fit these requirements.
- Your lender requires it: Many lenders require you to cover your boat as long as you owe money on it.
Are There Any Changes Happening In The World Of Boat Insurance Right Now
Boat insurance offerings are gradually becoming more digitalized, and consequently more user-friendly. While the insurance world may have been one of the last to respond to digitalization, its been a win-win situation for both insurers and customers. Customers are demanding more flexibility and customization from their insurers, while digitalization gives insurers access to real-time information, which allows us to react swiftly to incidents. Data-driven insights are allowing us to tailor services to fit our customer base. Here at GEICO Marine Insurance, we have the BoatUS app, which enables members to manage their insurance policy while on the go.
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Standard Boat Insurance Coverage
Standard boat coverage options are similar to those for auto insurance. Below weve listed some typical choices, and what they cover.
- Bodily injury liability:Medical expenses, lost wages and related costs of other parties if youre found at fault for a boating accident
- Property damage liability:Damages to other parties boats and personal property when youre found at fault for a boating accident
- Collision insurance:Damages to your vessel resulting from a covered accident, no matter who is at fault
- Comprehensive coverage:Damage to your boat from non-accident sources, such as fire, vandalism, floods, theft and weather
- Medical payments:Medical expenses for your party resulting from a covered accident, no matter who is at fault
- Uninsured boater/underinsured boater coverage: Property and injury expenses if an at-fault boat operator lacks sufficient coverage
Boatus Careers And Employment
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BoatU.S., part of GEICO and the Berkshire Hathaway family of companies, offers a range of insurance products and services to recreational boaters nationwide through Geico Marine Insurance Company and Boat Owners Association of The United States For more information visit us at www.BoatUS.com.
Our employees quality of life is important to us. Full-time BoatU.S. employees are offered a comprehensive benefits program*, including:
401 plan
Medical, dental, vision and life insurance
Paid vacation, holidays and leave programs
Tuition reimbursement
Flexible spending accounts
Business casual dress
BoatU.S.is an Equal Opportunity Employer. Background, criminal history and hair drug testing are required as part of our pre-employment process.
Salary estimated from 92 employees, users, and past and present job advertisements on Indeed.
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Start With Small Boats
While its tempting to rush out and buy your dream boat right away, its more important to think carefully about what kind of vessel best fits your needs. Smaller boats are less expensive to purchase and easier to maintain and store. Most importantly, they are easier to learn how to handle the water. If youre planning on using your boat for chill cruises, you may not need that superyacht youve had your eye on.
Editors Note: Consider the pros and cons of buying a new boat versus buying a used boat, and whether or not an insurance company will even offer insurance for the type of used boat you have in mind. If youre looking to buy a vintage boat, this may be a big factor in your decision, so be sure to read our vintage boat buying guide as well.
What Boat Insurance Covers
Policies vary between insurers but coverage typically includes:
- Property damage coverage: also known as physical damage coverage, it insures against damages or loss of your vessel caused by collisions with other boats or objects , theft, sinking, fire, storms and other risks. The property covered may include the hull, motor, fittings, furnishings and other equipment.
- Liability coverage: helps pay legal expenses and settlements if you’re found at fault for someones injuries during a crash, for example. It also covers damages to others property, such as a boat or dock you collide with.
Optional boat insurance coverage
Boat insurance companies may offer extra coverage options for:
- Medical payments for injuries to you or passengers
- Roadside assistance if the vehicle used to tow your boat breaks down
- Wreckage removal in the event your boat sinks
- Watersport injuries or damages from tubing wake surfing, or other similar activities
- Fuel spill cleanups for accidents or a leaking gas tank
- Personal property such as fishing equipment, scuba gear, clothing, smartphones and more
- Uninsured/Underinsured boater damages your boat
- On-water towing if your boat leaves you stranded
- Mechanical breakdowns
- Ice and freezing damage
- Hurricane haul-out in case you have to move the boat to safety due to a storm
- Extending your navigation to Alaska, Bahamas, Mexico and the Caribbean
Types of boats covered
The types of watercraft covered vary across insurance companies but may include:
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Actual Cash Value Or Agreed Value
This describes how the value of the boat is determined. Actual cash value is the value of the boat at the time of claim, which takes into account depreciation and may result in a lower premium. An agreed value policy will secure the amount you can receive for your boat if a total loss occurs regardless of the depreciation, though in some cases partial losses may be depreciated.
Settling A Claim For A Boating Accident With An Injury Or Damage To Another Person’s Property
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Question About Towing With Boat Us And Geico Insurance
additionalRick S., Swarthmore, PABreakin’ Away,
PhilCarlson said:For me TowBoat US unlimited seems a no-brainer. Yes, it seems maybe one could save ~ $120 per year with an insurance rider, but I’d worry about having to pay and seek reimbursement, or other hassles . I went with the TowBoat US unlimited back when I first got my boat. Ended up needing a tow a solid 8+ hour tow from Tarpon springs FL to MacDill AFB. Cost me nothing, no questions or hassle at all. That was 8 years ago and haven’t needed it since, but I figure I’ll break even on the premiums in another 7 or 8 years. I might add an insurance rider on the next boat depending on what it covers, but I wouldn’t drop TowBoat.
Rick S., Swarthmore, PABreakin’ Away,
How Much Is This Boat Worth
Whether you’re buying a used boat, selling an existing one, or calling for a boat insurance rate, it is important to know what your boat is worth. Here are some tips to research boat prices and values:
Please keep in mind that each of these tips will help give you an idea of cost. There are a lot of factors that can affect the value of a boat you need to consider such as how well the boat was maintained, serviced, and used.
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Or Purchase A Separate Boatus Membership With Unlimited Towing
If you own more than one boat or choose not to insure your boat with us, you may want to consider buying a BoatUS Unlimited Towing Membership which includes:
- Freshwater and Saltwater Unlimited Towing options
- Service provided by TowBoatUS
- Assistance with breakdowns, jump starts, and fuel delivery
- Subscriptions to BoatUS Magazine filled with boating tips and info
- Discounts on fuel, repairs, overnight slips, and more
- 25+ benefits and services to help make your boating experience better
About Geico Live Chat
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Enroll In Online Access
To register an online account with GEICO Marine Insurance, click the New Account Registration link on the account login page link on the main boat insurance page. Follow the steps below.
Step 1 Click the New Account Registration link . You will be transferred to the registration form.
Step 2 Enter all of the required details into the appropriate input fields. Register any applicable policies to your account. Click the Return to Login Page button to log in using your new account information.
