Actual Cash Value
Get a Quote 800-283-2883 | File a Claim 800-937-1937
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 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.
Enjoy up to $500,000 in per occurrence liability coverage (higher limits may be available).
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.
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.
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.
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).
Additional coverage for your injuries caused by a collision when a hit-and-run or uninsured boater is at fault.
Receive a 25% discount on your deductible each year you remain claims free, until it reaches $0! (Begins with your first renewal).
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.
Usually excluded, this endorsement provides coverage for damage resulting from ice and freezing. Ideal for boaters in cold-weather climates.
This endorsement lowers the deductible for claims relating to the dinghy and/or the dinghy's motor resulting from theft or damage to $100.
This endorsement lowers the deductible for claims relating to navigational electronics to $250.
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.
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.
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.
When you insure your trailer, roadside assistance while trailering your boat is included.
Losses and Depreciation
We will pay the reasonable cost of repairs or replacements, in accordance with quality marine repair practice, less depreciation. Depreciation shall be calculated at 10% for each year beginning with the 20th year from manufacture. 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.
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.
For a quote, visit our Online Application or call 800-283-2883 for personal service.