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Best Boat Insurance

Boating accidents are more common than most people think. The US Coast Guard counted 5,265 boating accidents alone, resulting in a whopping $62.5 million in property losses and 767 deaths.

Allstate Insurance

You can never predict when accidents will happen, but you can prepare for any potential disaster by purchasing the best boat insurance for your needs.

We've evaluated boat insurance policies from over 20 nationally recognized brands to help you decide which one offers the best boat insurance your money can buy before you hit the water. After our careful analysis, we have selected five companies that offer the best boat insurance.





Great coverage with lots of extras

National averages are about $25 a month


Limited information online about coverage limitations and exclusions


Allstate offers a very comprehensive range of boat coverage options, including:

Watercraft Liability Coverage

property coverage

repair costs

medical payments

Uninsured Boat Coverage

Additional equipment and personal effects

trailer cover

Emergency services (such as towing, labor, fuel, oil, battery delivery)

Agreed value


Although Allstate offers boatload coverage starting at around $25 per month, they don't shy away from discounts. You may qualify for the following when you insure your boat with Allstate:

Multi-Policy Discount - Discount when you combine your boat insurance with an Allstate Homeowners Policy

Full Payment Discount - Discount for paying the entire premium in advance

Home Ownership Rebate - Home Ownership Rebate

Boating Education Discount - Discount when you attend an approved boating safety class

Easy Pay Plan Discount - Discount when you sign up for automatic payments


Allstate does not disclose many limits on boat coverage. However, some types of coverage and deductibles are not required in all states, so it's best to contact your local Allstate dealer to check the availability of coverage and deductibles before switching to Allstate to insure your boat.

Additional privileges

Allstate offers the best of both worlds to its customers: local agents to help you with your insurance needs, plus online tools and an 800 number to get questions answered anytime.

The Allstate website also has a lot of information and resources for boat passengers, which can be especially helpful for new boaters or those with limited boat ownership experience. The company offers articles and videos on boat maintenance, handling accidents and other marine emergencies, and handling your boat and boat insurance during the holiday season.


Best for cheap boat insurance




It costs as much as $100 a year

Wide range of coverage

Lots of discounts available


Restrictions on the types of boats involved


As expected of a leader in the personal property insurance industry, Progressive offers all the major coverages and more, including:

Liability for bodily injury and property damage

Comprehensive coverage

collision coverage

Uninsured/Uninsured Vessel (UB/UIB)

medical payments

Propulsion Plus Mechanical Breakdown Coverage (Plus, starting at $38/year)

Sign up and glide with Water Diameter (Plus, starting at $30 per year)

Fishing or portable equipment

Water sports injury coverage

Remove fuel leaks and debris

Roadside assistance and trip interruption (if you choose trailer cover)

Full replacement cost


You can save even more with Progressive by qualifying for some of the following discounts:

Advanced quote discount - for those who receive a quote and sign up for coverage at least 24 hours before it takes effect

Transfer discount - for those who transfer their boat to Progressive from another company

Multiple Policy Discount - For those who have multiple types of progressive insurance (auto, boat, motorcycle, homeowners, etc.)

Multi Vessel Discount - For those insuring more than one vessel

Union Discounts - For those who are members of the United States Coast Guard Auxiliary, United States Forces Squadron or USAA

Original Owner Discount - If you are the original owner of your boat

Responsible Driver Discount - for boats that have been accident free on the water for at least three years

Instant payment discount - deducted automatically as long as you pay on time

Full payment discount - to pay your entire premium upfront

In addition, Progressive offers these benefits that help customers save on insurance