What will boat insurance cost for your boat?
Most U.S. boat owners pay somewhere between 1% and 5% of what their boat is worth each year for insurance, according to Chubb.
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What kind of boat?
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What you paid, or what boats like it sell for. A rough figure is fine.
Type the value in dollars, between $500 and $5,000,000.
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An estimate, not a quote. How we work it out
The line reaches Boat Insurance Compare. Have the boat, its value and your state ready.
Rather have it in writing? Send a quote request with the answers you just gave.
Prefer to ask a person? Call +1 (833) 721-5475 or send a quote request
Boats of every kind
A pontoon on a lake and a cruiser on the coast are insured in different ways.
Pontoon boats
Bass boats
Ski and wake boats
Sailboats
Yachts
Jet skisWhat your type of boat costs to insure
The biggest factors are size and value. Insuring a small boat you take out on the lake on weekends tends to run much cheaper than covering a sailboat or a bigger boat with a higher price tag.
| Boat worth about | Pontoon, bass or ski boat | Sailboat | Jet ski |
|---|---|---|---|
| $10,000 to $25,000 | $300 to $800 | $500 to $880 | $180 to $500 |
| $25,000 to $50,000 | $380 to $800 | $500 to $1,500 | Few are worth this much |
| $50,000 to $100,000 | $750 to $1,130 | $750 to $1,500 | Few are worth this much |
For a middle-cost state, built from Chubb's yearly ranges by kind of boat and its 1% to 5% of value rule, scaled by Progressive's state averages. How we work it out or see every boat, value and state.
Sources and other published figures
Those figures are drawn from Chubb's published guide. Since the price tracks the value, a more expensive boat generally means a higher yearly premium.
Figures from other sources sit in a similar range. GEICO's guide gives an average of $300 to $650 per year. Keep in mind that is an industry-wide average rather than a quote from GEICO. Progressive says a boat policy can typically start as low as $100 a year, though most people pay more.
Where you keep your boat changes the price
Where the boat is kept can shift the price quite a bit. Progressive sorts states into low, middle, and high cost bands, and its averages for 2024 to 2025 make the difference easy to see.
Looking at individual states, the spread grows wider still. Wisconsin had Progressive's lowest state average at $274.42, while Florida had the highest at $867.86. In other words, Florida's average runs over three times Wisconsin's.
A quick call can show you what a pricier state means for what you would actually pay.
Is boat insurance required?
No federal law requires it. Arkansas, Hawaii, Utah and Washington require it for some boats, Illinois from 2027, and lenders and marinas often ask for it anyway. The law in every state
Seven boat insurers side by side
| Insurer | Policy issued by | Payout after a loss | Towing on the water |
|---|---|---|---|
 Progressive | Progressive | Partial losses paid at full replacement cost with comprehensive and collision | Sign & Glide on-water towing, optional |
 BoatUS | GEICO Marine | Agreed hull value (except PWC) or actual cash value | TowBoatUS add-on starting at $3 a month |
 GEICO | GEICO Marine Insurance Company | Choice of agreed hull value or actual cash value | Add-on through BoatUS, 24/7 |
 State Farm | State Farm Fire and Casualty | Total loss paid at agreed value; repairs at replacement cost | Emergency service covered |
 Allstate | Allstate | Agreed value available | Emergency services covered up to $100 |
 Markel | Markel American | Agreed value; actual cash value available on yachts | Emergency towing offered |
 Chubb | ACE American (Chubb) | Total loss pays the full agreed amount with no deductible | Ask the agent when quoting |
What each insurer publishes about its own policy; the price for your boat comes with a quote. All 17 insurers side by side
Want a firm price from one of them? An agency quotes your boat by phone or from a short request.
More questions owners ask
How to compare quotes fairly
Comparing quotes fairly means handing each insurer identical information. Give each insurer the same boat details, then compare what each quote includes as well as its price.
Here is what to put side by side:
- What each company charges per year for an identical boat at an identical value
- Whether on-water towing comes with the policy or is billed separately
- Which company truly backs the coverage
That final point counts, since the brand on the site is not always the firm issuing the coverage. As an example, GEICO's boat coverage is issued by GEICO Marine Insurance Company, which works together with BoatUS. BoatUS policies come from that very same underwriter.
Towing is a small extra that slips past people easily. Through BoatUS you can add TowBoatUS towing starting at $3 a month, with the rate set by your boat's size and where you are.
Call and we'll set the quotes for your boat next to each other, so the real difference shows.
Is marine insurance the same thing?
GEICO Marine Insurance Company is the company behind boat policies sold through GEICO and BoatUS. Some companies simply put "marine" in their name.
The label matters less than the coverage itself and who backs it. Simply ask for the issuing company's name and you will know exactly whose policy you are getting.
Coverage for jet skis and other small watercraft
A personal watercraft is something you ride on top of instead of sitting inside, like a jet ski. Plenty of insurers cover these right along with standard boats. BoatUS writes policies for boats and personal watercraft alike.
This market is a big one. Progressive says it covers more than 2 million watercraft. BoatUS coverage reaches all 50 states and DC for owners holding a U.S. address.
Can a calculator tell you your price?
Published averages can give you a starting range. Call now to find out what coverage for your boat could cost.
The easiest approach applies Chubb's guideline of roughly 1% to 5% of the boat's value annually. A pricier boat means a bigger bill, and where you keep it can push that number up or down. Only an actual quote gives you a true price, since every insurer weighs your boat differently.
How to get an estimate for your boat
A solid estimate takes just a handful of details. Gather them first and the call goes fast.
- Be clear on your boat's type, like a small runabout or a sailboat, since the published price ranges are different for each.
- Jot down a ballpark value, whether that is the price you paid or what comparable boats are listed for, because premiums follow value.
- Note the state where the boat stays, since averages by state run anywhere from roughly $274 up to about $868 annually.
- Think about whether on-water towing appeals to you, given it only costs a few dollars monthly to add.
With those four answers ready, call us now and we'll take it from there.
The line reaches Boat Insurance Compare. Have the boat, its value and your state ready.