How we make this list: we compare pricing pages, product documentation and public user reviews. Ratings come from G2, Capterra or Trustpilot, with the date we checked them.
Key takeaways
- Progressive is the best boat insurance company overall, with the widest coverage, all boat types, and competitive rates.
- BoatUS, underwritten by GEICO, is best for recreational boaters and includes BoatUS membership and towing.
- Markel is best for personal watercraft and high-value boats over 100,000 dollars, with no upper value limit.
- State Farm offers the best balance of cost and coverage, while Nationwide suits fishermen.
- Foremost suits personal watercraft and specialty hull types, while Chubb suits yachts and high-dollar vessels.
- Typical premiums run 200 to 500 dollars a year for standard recreational boats, or roughly 1% to 5% of value for higher-value vessels, and rates vary by vessel, waters, and state.
Quick comparison
| Tool | Best for | Starting price | Free plan |
|---|
 Progressive | Best overall | From $100/year | No |
 BoatUS | Recreational boaters | From $150/year | No |
 Markel | Personal watercraft and high value | See website | No |
 State Farm | Balance of cost and coverage | From $200/year | No |
 Allstate | Bundling with home and auto | See website | No |
 Nationwide | Fishermen | See website | No |
 Foremost | Personal watercraft | From $150/year | No |
 Chubb | Yachts and high-dollar vessels | See website | No |
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The best boat insurance companies
Starting priceFrom $100/year
Free planNo
Progressive is the best boat insurance company overall in 2026, with the widest coverage, all boat types, and competitive rates. The carrier covers bass boats, pontoon boats, powerboats, and personal watercraft, with on-water towing included as standard, easy online quotes, and bundling discounts for owners who also insure a car or home. Coverage extends to any lake or river in the US plus ocean waters within 75 miles of the coast.
Starting rates are cited from 100 dollars a year in some guides, while typical premiums run 200 to 500 dollars a year for standard recreational boats, so the actual rate depends on vessel, value, horsepower, navigation territory, and claims history. Marine specialization is thinner than Markel or BoatUS. For most boat owners, Progressive is the first quote to get.
What we like- Best overall
- Widest coverage
- All boat types
- From 100 dollars a year in some guides
- On-water towing included as standard
- Easy online quotes
- Bundling discounts
Watch out for- Less specialized marine coverage than Markel or BoatUS
- Rates vary widely by vessel and state
- Some guides cite higher starting rates
Starting priceFrom $150/year
Free planNo
BoatUS, underwritten by GEICO Marine, is best for recreational boaters and includes BoatUS membership with towing service and extensive boating resources. The policy offers agreed value hull coverage, liability, medical payments, uninsured boater coverage, wreck removal, and personal effects, which covers the risks recreational boaters actually face. Starting rates run 150 to 300 dollars a year in guides.
Membership is required, and BoatUS may not be the cheapest quote for every vessel. For a recreational boater who wants towing, membership benefits, and agreed value coverage in one package, BoatUS is the best pick.
What we like- Best for recreational boaters
- Includes BoatUS membership
- Agreed value hull coverage
- Towing service
- Extensive boating resources
Watch out for- From 150 to 300 dollars a year in guides
- Membership required
- May not be cheapest
- Underwritten by GEICO, so brand confusion
Starting priceSee website
Free planNo
Markel is the best choice for personal watercraft owners and enthusiasts, and the best carrier for high-value boats over 100,000 dollars, with no upper value limit. The carrier specializes in marine risks that general insurers handle poorly, including personal watercraft, specialty hull types, and yachts, and its review scores are among the strongest in the category.
Rates vary by value with no published starting rate, and the high-value focus means a small boat may cost more than at Progressive. For a jet ski owner or a yacht owner who needs real marine expertise, Markel is the best pick.
What we like- Best for personal watercraft owners and enthusiasts
- Best for high-value boats over 100,000 dollars
- No upper value limit
- Strong reviews
Watch out for- Rates vary by value, no published starting rate
- High-value focus means small boats may cost more
- Fewer bundling options
Starting priceFrom $200/year
Free planNo
State Farm offers the best balance of cost and coverage, with local agents who can shop and compare quotes, bundling with home and auto policies, and starting rates cited from 200 to 450 dollars a year in guides. The carrier is widely available, and the local agent model suits owners who prefer a person to call after an accident.
Marine specialization is thinner than BoatUS or Markel, and online quoting is less detailed than Progressive. For an owner who already insures a home or car with State Farm and wants one agent for everything, State Farm is the best pick.
What we like- Best balance of cost and coverage
- Local agents
- Bundling with home and auto
- From 200 to 450 dollars a year in guides
Watch out for- Marine specialization thinner than BoatUS or Markel
- Rates vary by state
- Online quoting less detailed than Progressive
Starting priceSee website
Free planNo
Allstate suits owners who bundle boat coverage with home and auto policies, with broad availability, local agents, and standard boat coverage including liability, physical damage, medical payments, and uninsured boater options. Bundling can cut the total bill across policies, which is the main reason to pick Allstate for a boat.
There is no published starting rate, marine specialization is thin compared with BoatUS or Markel, and review scores sit lower than Markel. For an existing Allstate customer who wants one carrier for home, auto, and boat, Allstate is a solid pick.
What we like- Bundling with home and auto
- Broad availability
- Local agents
- Standard boat coverage including liability and physical damage
Watch out for- No published starting rate
- Marine specialization thin
- Review scores lower than Markel
- Rates vary by state
Starting priceSee website
Free planNo
Nationwide is the best carrier for fishermen, with fishing boat and pontoon coverage that suits bass boats and angling gear, plus bundling options and broad availability. The standard marine coverages include liability, physical damage, medical payments, and uninsured boater protection, with fishing gear options that matter to anglers.
There is no published starting rate, rates vary by vessel and state, and marine depth sits below Markel and BoatUS. For a fisherman who wants a carrier that understands fishing boats, Nationwide is the best pick.
What we like- Best for fishermen
- Fishing boat and pontoon coverage
- Bundling options
- Broad availability
- Standard marine coverages
Watch out for- No published starting rate
- Rates vary by vessel and state
- Marine depth below Markel and BoatUS
Starting priceFrom $150/year
Free planNo
Foremost suits personal watercraft and specialty hull types, with a best-for-value position and starting rates cited from 150 to 400 dollars a year in guides. The carrier covers jet skis, specialty hulls, and standard boats, with a broad appetite that accepts vessels other carriers decline.
The brand is smaller than Progressive or State Farm, rates vary by vessel, and membership benefits are fewer than BoatUS. For a personal watercraft owner who wants value and a carrier that accepts specialty hulls, Foremost is the best pick.
What we like- Best for value
- Personal watercraft and specialty hull types
- From 150 to 400 dollars a year in guides
- Broad boat appetite
Watch out for- Smaller brand than Progressive or State Farm
- Rates vary by vessel
- Fewer membership benefits than BoatUS
Starting priceSee website
Free planNo
Chubb suits yachts and high-dollar vessels, with high-value expertise, agreed value options, strong financial strength, and global navigation coverage for owners who cruise beyond coastal waters. The carrier handles large yachts and complex marine risks that standard carriers cannot price well.
There is no published starting rate, the high-value focus means a standard boat costs more than at Progressive, and quotes run through agents rather than direct online. For a yacht owner or a high-dollar vessel owner, Chubb is the best pick.
What we like- Best for yachts and high-dollar vessels
- High-value expertise
- Agreed value options
- Strong financial strength
- Global navigation coverage
Watch out for- No published starting rate
- High-value focus means standard boats cost more
- Quote through agents, not direct online
How we chose
We ranked boat insurers on coverage breadth, including agreed value versus actual cash value, towing, fuel spill liability, and wreck removal, plus boat-type specialization, discount availability, financial strength ratings, and nationwide availability. We flagged where guides disagree on starting rates, since Progressive, BoatUS, State Farm, and Foremost each carry ranges rather than single rates, and we weighted marine specialization over brand size, since a general insurer that does not understand boats writes worse boat policies.
What to check before you buy
Work with a local independent agent who can shop and compare quotes from several carriers, since the best match depends on your specific boat, state, and coverage needs. Compare agreed value versus actual cash value, since agreed value pays the insured amount while actual cash value pays depreciated value, and the difference matters most after a total loss. Check whether your marina requires insurance as a condition of slip rental and whether your lender requires it if you financed the boat, since both are common even where no state requires boat insurance by law. Finally, confirm navigation territory, since coverage outside your stated territory, such as beyond 75 miles offshore, is typically excluded.
A note on safety on the water
Insurance pays after an accident, but safety prevents one. Take a boating safety course, wear life jackets, check the weather before departure, and never operate a boat under the influence of alcohol or drugs, since impairment is a leading cause of fatal boating accidents. Keep safety gear on board, file a float plan with someone ashore, and know the navigation rules for your waters before you leave the dock.
Frequently asked questions
How much does boat insurance cost?
Typical premiums run 200 to 500 dollars a year for standard recreational boats, or roughly 1% to 5% of the boat value for more comprehensive coverage on higher-value vessels. Rates vary by vessel type, value, horsepower, navigation territory, storage, and claims history.
Is boat insurance required by law?
No state requires boat insurance by law in the states covered by most guides, but a marina may require it for slip rental and a lender may require it if you financed the boat. Liability exposure from an at-fault accident makes coverage strongly advisable even where it is not required.
What does boat insurance cover?
A standard policy covers physical damage from collision, fire, theft, vandalism, and weather, plus bodily injury and property damage liability, medical payments, and optional additions such as on-water towing, uninsured boater coverage, fishing gear, and trailer coverage. It does not typically cover wear and tear, mechanical breakdown unrelated to a covered event, or use outside your stated navigation territory.
What is the difference between agreed value and actual cash value?
Agreed value pays the insured amount agreed when the policy starts, while actual cash value pays the depreciated value at the time of loss. Agreed value costs more but protects a high-value boat far better after a total loss.
Which boat insurer is best for personal watercraft?
Markel is best for personal watercraft owners and enthusiasts, while Foremost suits personal watercraft and specialty hull types at a value price.
Sources we checked (0)
Is your product missing or out of date?
We review this list regularly. Vendors can request a listing, send updated pricing or ask about featured placement.
Shihab Mia · Founder, Rankite
Shihab has 5+ years in B2B and SaaS SEO. He writes Rankite's software buying guides from pricing pages, documentation and public user reviews. More about Shihab.