Lower-Cost Boat Insurance for Runabouts, Ski Boats, and PWC
For the boater who needs less coverage, choose an Actual Cash Value policy for a low annual premium.
Actual Cash Value
Get a Quote 800-283-2883 | File a Claim 800-937-1937
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Actual Cash Value Coverage
Basic coverage for your boat, engine and boating equipment. In the event of a total loss, your claims payout is determined using the current market value of your boat (Some losses may be subject to depreciation). No Cruising Limits - Boats under 40 ft. are free to cruise in US and Canadian Coastal and Inland waters.
Medical Payments Coverage
In the event of on-board injury, your policy includes up to $5,000 in per person, per occurrence medical coverage.
Liability Coverage
Enjoy up to $500,000 in per occurrence liability coverage (higher limits may be available).
Coverage Features
24 Hour Claims & Dispatch of Assistance
Our experienced team of claims professionals will dispatch assistance, utilizing our nationwide network of towers, salvors and surveyors to help policyholders through boating emergencies like fire, sinking, theft or fuel spill containment -- even roadside accidents. Your claim is handled by boating experts committed to outstanding service that gets you back on the water -- fast.
Additional Fuel - Spill Liability
In addition to your policy's standard liability coverage, this extra liability protection protects you from claims for clean-up or 3rd-party damage due to the accidental discharge of oil or fuel that can occur in a sinking, fire, collision, grounding, etc. This "green coverage" is crucial now that federal and state laws subject boaters to liability for cleanup, containment, and environmental damage.
Full Salvage Assistance
Covers you for the full cost of salvage, without a deductible, up to the insured value of your boat at the time of the loss.
Named Storm Haul-Out Coverage
Covers 50% of the cost (up to $1,000), per event, to professionally haul or protect your boat, in preparation for an NOAA Named Storm in your area. (Not applicable for PWCs).
Premium Discounts
Save up to 10% for completing a boating safety course, having multiple boat policies or a GEICO auto insurance policy.
Uninsured Boater Protection
Additional coverage for your injuries caused by a collision when a hit-and-run or uninsured boater is at fault.
Coverage Options
Diminishing Deductible
Receive a 25% discount on your deductible each year you remain claims free, until it reaches $0! (Begins with your first renewal).
Fishing Guide Coverage
Allows for paid passengers for the purposes of fishing, sight-seeing, or day cruises. Maximum of 6 passengers onboard plus the captain while being used for charter.
Ice and Freezing Coverage
Usually excluded, this endorsement provides coverage for ice and freeze damage if you have your boat winterized by a marine professional.
Lower Dinghy Deductible
This endorsement lowers the deductible for claims relating to the dinghy and/or the dinghy's motor resulting from theft or damage to $100.
Lower Electronics Deductible
This endorsement lowers the deductible for claims relating to navigational electronics to $250.
Personal Effects Coverage
Coverage for fishing and watersports equipment and personal items such as cell phones, tablets, stereos and clothing lost or damaged while on board or while being loaded or unloaded from the boat. For competitive anglers or water sport enthusiasts, Tournament Reimbursement fees are also covered under Personal Effects.
Supplemental Family Medical Payments - $25,000
To ensure that you or your family do not incur large out-of-pocket expense if injured onboard, our policies also include an additional $25,000 for payments not covered by any major medical policy. This coverage is in addition to the medical payments limit you select with your policy.
Unlimited Towing from TowBoatUS
Get Unlimited Towing from TowBoatUS at our lowest price - as little as $3 a month for the insured boat. Pricing varies with the length and location of your boat. Click here for additional information.
Trailer Coverage with Roadside Assistance Included
When you insure your trailer, roadside assistance while trailering your boat is included.
Losses and Depreciation
Total Loss
We will reimburse you for the actual cash value (the boat's current market value, not the replacement value) at the time of the loss.
Repairs for Partial Losses
We will pay the reasonable cost of repairs or replacements, in accordance with quality marine repair practice, less depreciation. AHV Policies: We will pay the reasonable cost of repairs or replacements, in accordance with quality marine repair practice, less depreciation on sails canvas, carpeting, cushions, fabric, outboard motors, outdrives, propulsion machinery or generators. In all cases, there shall remain no less than 20% residual value regardless of age. In the event of damage to plywood, plastic, fiberglass, metal, cement, or other molded material, we are obligated to pay only the reasonable cost of repairing the damaged area, in accordance with quality marine repair practice. If there is a covered loss requiring repainting of an insured boat, we will pay the cost of repainting or resurfacing the damaged area in accordance with customary marine repair practices so that the area repaired will match, as closely as practical, the original color. We have the option to make or reimburse you for repairs or replacements, or to pay you directly based on an agreed estimate of loss. Repairs and replacements will be made with like kind and quality.
In the event of damage to a dinghy with cost of repair exceeding the actual cash value of the dinghy the most we will pay is the actual cash value as determined by industry reference materials including, but not limited to, the N.A.D.A. book, the BUC Used Price Guide, and ABOS Marine Blue Book.
Uninsured Boater
Additional coverage for your injuries, while on board your boat, caused by a collision when a hit-and-run or uninsured boater is at fault.
For a quote, visit our Online Application or call 800-283-2883 for personal service.
All coverage is subject to terms, conditions, limits and exclusions of the policy. Not all policy options are available in all states. Boat and PWC policies are underwritten by GEICO Marine Insurance Company with administrative offices at 5323 Port Royal Road, Springfield, VA 22151. GEICO Marine Insurance Company is domiciled in Omaha, NE, and coverage is offered in all 50 states and the District of Columbia to boat owners with a U.S. address. View the GEICO Marine Insurance Company Privacy Policy & Notice of Collection.