Home Insurance Boat and Watercraft Insurance Coverage Options from Safeco

Boat and Watercraft Insurance Coverage Options from Safeco

Boat and Watercraft Insurance Coverage Options from Safeco
Boat and Watercraft Insurance Coverage Options from Safeco

Get to Know Your  Boat and Watercraft Coverage Options from Safeco

For boat and watercraft enthusiasts, nothing beats the feeling of being out on the water. Whether you own a speedboat, sailboat, jet-ski, or fishing rig, protecting your prized investment is essential. In this guide, we’ll delve into the boat and watercraft coverage options offered by Safeco, helping you understand how to safeguard your vessel and enjoy worry-free adventures on the water.

Customized Coverage for Your Watercraft

Safeco understands that each boat and watercraft is unique. That’s why we offer a range of coverage options tailored to your specific needs. Let’s explore these coverages in detail:

Standard Boat and Watercraft Coverage

1. Agreed Value Coverage

Imagine the unthinkable: your boat or watercraft is declared a total loss. With Agreed Value Coverage, you receive the full amount agreed upon with Safeco to replace your vessel. It ensures that you can get back on the water with a similar vessel, preserving your investment.

2. Fuel Spill and Wreckage Removal Coverage

Accidents can happen, leading to fuel spills and wreckage. This coverage takes care of the costs associated with cleaning up fuel spills and the removal of accident wreckage. It’s designed to protect not only your vessel but also the environment.

3. Navigational Territory

Enjoy the freedom to explore up to 75 miles from the U.S. coastline and into Canadian coastal or inland waters with Navigational Territory coverage. It ensures that you’re covered while venturing into new waters.

Optional Boat and Watercraft Coverage

4. Emergency Assistance Package

When you’re out on the water, unexpected situations can arise. The Emergency Assistance Package offers peace of mind by reimbursing you for the cost of on-water towing, labor, and emergency services. Whether you run out of fuel or need a jumpstart, this coverage has you covered.

5. Personal Effects Coverage

Your boat often carries valuable personal items like fishing gear. Personal Effects Coverage ensures that these items are protected in case of damage or loss.

6. Physical Damage Coverage

Accidents can lead to damage to your boat or watercraft, its motor, attached equipment, and trailer. Physical Damage Coverage helps pay for the cost of repairs or replacement up to the agreed value of your vessel.

Safeco Captain’s Package Coverage

For even greater peace of mind, consider enrolling in the Safeco Captain’s Package. This package includes:

  • New Boat Price Protection: In the event of a total loss, it replaces boats or watercraft less than two years old with a new one.
  • Roadside Assistance: Covers the boat, trailer, and the towing vehicle, providing assistance when you’re on the road.
  • Personal Effects Protection: Increases protection limits to your base coverage.
  • Emergency Assistance: Increases the coverage amount to $1,000.

Savings and Discounts for Responsible Boaters

Safeco believes in rewarding safe and responsible boaters. Here are some ways you can save money on your boat and watercraft insurance:

1. Be a Safe Boater

Completing a boating safety course offered by the Coast Guard Auxiliary or U.S. Power Squadron can earn you up to a 15% discount on your premiums.

2. Boat Ownership Credit

If you’ve owned any boat for two or more years, you can save up to 5% on your premiums.

3. Bundle and Save

When you insure more than one vessel or carry an auto, motorcycle, home, condo, or renters policy with Safeco, you qualify for a discount.

Connect with Safeco Today

Safeco offers comprehensive coverage options to protect your boat or watercraft. To explore the best coverage options for your vessel, connect with a licensed independent agent near you. They’ll guide you through the available choices and help you make an informed decision.

Stay Connected with Safeco

Safeco makes managing your motorcycle insurance easy with their mobile app. Here’s what you can do on the app:

  • Obtain ID cards
  • Pay your bill
  • View policy documents
  • Get roadside assistance when needed

Download the Safeco Mobile App on iOS or Google Play to have your policy at your fingertips, even on the go.

Common Boat and Watercraft Insurance Questions

Have questions about boat and watercraft insurance? Check out these frequently asked questions for answers:

1. Is boat insurance required?

While boat insurance is optional in many states, if you finance your boat with a loan, your lender may require coverage. Speak to your local independent agent to understand your state’s regulations and lender requirements.

2. Is your boat covered by your homeowners policy?

Typically, homeowners insurance provides limited liability coverage for low-horsepower outboard-motor-powered boats. However, it may not cover more extensive watercraft or provide the comprehensive coverage offered by a dedicated boat and watercraft insurance policy.

3. Should you insure your boat even if you only use it seasonally?

Yes, it’s essential to protect your boat, even during the off-season. Insurance can safeguard against fire, theft, vandalism, and liability, ensuring your investment is protected year-round.

4. Does Safeco offer Actual Cash Value (ACV) coverage on watercraft?

No, Safeco does not offer ACV coverage on watercraft. All watercraft policies with physical damage coverage are insured for an agreed value, ensuring you receive the agreed-upon amount in case of a total loss.

5. What if I’m hit by an underinsured or uninsured driver on the water?

Safeco provides protection against the costs of injuries or damage resulting from an accident caused by an uninsured or underinsured boater. You can choose your coverage amount to ensure you’re adequately protected in such situations.

Your boat or watercraft is not just a vessel; it’s a gateway to adventure and relaxation. Safeguard your aquatic adventures with the right coverage from Safeco and navigate the waters with confidence.


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Simeon Bala
Author: Simeon Bala

I am a finance market research analyst with over five years of experience. I have a strong interest in personal finance and investment research. I am also a skilled copywriter.

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I am a finance market research analyst with over five years of experience. I have a strong interest in personal finance and investment research. I am also a skilled copywriter.