Allstate Boat Insurance
Accidents on the water are more common than most people believe. The US Coast Guard recorded 5,265 watercraft incidents in 2020 alone, resulting in $62.5 million in property damage and 767 fatalities.
Accidents can never be predicted, but you can prepare for any potential disaster by getting the finest boat insurance for your needs.
What is the purpose of boat insurance?
There are always potential hazards in the water. Boat insurance is a financial safety net that protects you from injuries or damage caused to others while boating. It can also protect your watercraft and trailer if they are stolen or damaged.
Boat insurance protects your watercraft all year long, whether it’s on the water every day or in storage for the winter. Learn about the various types of optional coverage and how boat coverage protects you, your boat, and your passengers.
A typical boat insurance policy may help cover a stolen motorboat, sailboat, or personal watercraft, as well as damage caused by a covered peril such as fire or lightning. It may also protect you if you injure or damage someone else’s property with your boat.
Furthermore, your policy may cover specific parts of the boat, such as the machinery, hull, and so on. Allstate’s boat insurance provides a wide range of coverage options, including medical payments coverage, liability coverage, property coverage, and emergency services coverage.
Coverage for Allstate boat insurance
Medical payments coverage for watercraft
If you or anyone on your boat is injured in an accident, can help pay for some of your medical bills or funeral expenses. Liability protection for watercraft. Protects you from having to pay for the repair or replacement costs, medical expenses, lost income, and funeral expenses of other people involved in an accident.
Property coverage
Aids in the repair of your boat if it is hit while docked or if you are involved in an accident with another boat or something else, such as a pier, buoy, dock, or debris.
Repair cost endorsement protection
Covers your boat, motor, boat equipment, and trailer up to the policy limits.
Coverage of emergency services
Reimburses up to $100 for reasonable towing, mechanical labor at the location of the breakdown, and delivery of fuel, oil, or a battery.
Coverage for uninsured watercraft
Aids in the payment of injuries sustained by you, your family, or anyone on your boat as a result of an accident with an uninsured boater.
Option for agreed-upon value
Regardless of the current market value, you will be reimbursed for the boat’s value at the start of the policy.
Coverage for personal effects
Protects your fishing gear and other personal belongings if they are damaged, lost, or stolen.
Additional boat equipment protection
Up to the policy limits, this coverage covers your boat’s accessories such as anchors, life jackets, and navigation equipment.
Coverage for boat trailers
Covers trailer damage caused by an accident or other unforeseen incident, up to the policy limits.
Boat insurance typically covers the following types of watercraft
A boat insurance policy will cover a variety of different types of watercraft. The most typical are:
Powerboats
These, also known as motorboats, have a capable propulsion system and can range from a runabout to a yacht.
Boats for fishing
These boats are easy to operate and maintain, and they frequently include a trolling motor. They are typically used for low-key activities such as fishing and nature observation.
Sailboats
This is the most common type of boat for relaxing on the water, though adrenaline junkies can also use them for racing.
Boats with Pontoons
These lightweight, spacious, and versatile water vessels are easily customizable and come in a variety of styles, including traditional pontoons, tritoons, and luxury pontoons.
Watercraft for personal use
These types of watercraft, which can include jet skis, WaveRunners, and Sea-Doos, are typically used by thrill seekers and are fast and flexible with an inboard jet drive.
Limits and deductibles for Allstate boat insurance
Most boat insurance policies include a deductible, and all coverages are subject to limits. When it comes to deductibles, this is the amount of money you pay out of pocket to repair or replace your boat in the event of a claim under your policy.
This means that while a higher deductible may result in a lower insurance premium now, it may result in a higher premium later if you have an accident. In terms of coverage limits, if you have an accident claim covered by your Allstate policy, Allstate will pay for damages up to the limits of that coverage.
Cost for Allstate boat insurance
Boat insurance from Allstate costs about $25* per month. However, costs may vary depending on factors such as the type of boat you own, the types and levels of coverage you buy, and the amount of your deductible.