Best Sailboat Insurance

Allstate excels because of its broad coverage and affordable rates

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Man hoisting sail, backlit

Gary John Norman / Getty Images

Our Top Picks

Sailboat insurance is a type of insurance policy that protects boat owners against the financial realities of owning and operating a watercraft. Policies can include coverage for physical damage to the sailboat itself, as well as liability coverage in case you are responsible for injuries or other damages to another boater or vessel.  

The best sailboat insurance offers customers extensive (and flexible) coverage options at a competitive price point. Top insurers also provide helpful customer support and convenient tools for quote building and claims management. We reviewed some of the most popular coverage options to find the best sailboat insurance for Treehugger readers.

Best Overall: Allstate

AllState

AllState

No. of Policy Types: 10

Online Quote Tool: No

Coverage Limit ($): Varies by coverage type

Why We Chose It

Allstate’s broad coverage options, affordable rates, and generous discounts make it our best sailboat insurance overall. 

Pros & Cons

Pros

  • - Wide range of coverage options
  • - Policyholders can file most claims online
  • - Numerous discounts available, including for bundled policies

Cons

  • - No online quoting tool

Overview

Founded in 1931, Allstate is a well-established insurance company that offers customers a range of products—including boat insurance. Policyholders can choose from options that cover medical payments, liability, property, agreed-upon value, repair costs, emergency services, uninsured watercraft, personal effects, additional boat equipment, and boat trailers. Plus, policies are affordable, with the average national premium hovering around $21 per month. 

In addition to extensive coverage options, Allstate customers can take advantage of broad savings opportunities. Those who bundle policies can get a multi-policy discount of up to 20%, and eligible policyholders can benefit from a full-pay discount of up to 10%, homeownership discount of 10%, boat education discount of 5%, and easy pay plan savings up to 5%. Unfortunately, Allstate does not offer an online quoting tool, but shoppers can call the boat-specific hotline or use the website to find a local agent.

Best Budget: Progressive

Progressive

Progressive

No. of Policy Types: 14

Online Quote Tool: Yes

Coverage Limit ($): Varies by coverage type

Why We Chose It

With policies starting at just $100 per year, Progressive offers affordable coverage with extensive discounts. 

Pros & Cons

Pros

  • - Coverage available for as little as roughly $100 per year
  • - Wide range of standard and add-on coverage
  • - Customers can earn a discount for bundling two or more products 

Cons

  • - Does not insure larger, high-value sailboats

Overview

Sailboat owners on a budget can take advantage of Progressive’s standard coverage options for as low as roughly $100 per year. The company, which is one of the largest auto insurance providers in the US, offers a wide selection of optional add-on coverage for total loss replacement, on-water towing, fishing equipment replacement, and uninsured/underinsured boaters. 

Progressive is also known for its generous discounts for responsible drivers, original owners, association members, safety course graduates, and those who bundle policies or insure multiple boats. Prospective customers can use the insurer’s streamlined online quoting tool to find a policy that meets their needs. Keep in mind, however, that Progressive does not insure liveaboard sailboats, those with wood or steel hulls, sailboats over 50 feet in length (or about $350,000 in value), and boats that don’t meet U.S. Coast Guard standards.

Best for Policy Bundling: Nationwide

Nationwide

Nationwide

No. of Policy Types: 11

Online Quote Tool: No

Coverage Limit ($): Varies by coverage type

Why We Chose It

Nationwide is our top choice for policy bundling because customers get discounts for holding multiple policies with the company or insuring multiple boats. 

Pros & Cons

Pros

  • - Multi-boat and multi-policy discounts available for bundling home, boat, vehicle, or life insurance policies
  • - Covers sailboats valued up to about $350,000
  • - Boat owners can also choose from several boat insurance packages

Cons

  • - Shoppers cannot get a full price quote online

Overview

Founded almost a century ago in 1926, Nationwide boasts a number of convenient insurance options for sailboats and other watercraft. Boat owners can choose from several insurance packages like those for weekenders with extensive gear, overnighters who take a weekend or other short boating trips, and deep water pros who fish in large bodies of water. 

The company’s basic policy options include bodily injury and property damage liability, collision, uninsured/underinsured boater, and medical payments coverage. These options can be supplemented with optional coverage—for roadside assistance, towing, fishing equipment, and personal effects—and can be easily bundled with other Nationwide policies. In addition to multi-policy discounts, Nationwide offers customers savings for multi-boat, diesel fuel, paid-in-full, claims-free renewal, and boater safety courses.

Best for Emergency Service Coverage: State Farm

State Farm

State Farm

No. of Policy Types: 11

Online Quote Tool: No

Coverage Limit ($): Varies by coverage type

Why We Chose It

Emergency service coverage is automatically included in State Farm’s boat policies, making it our top pick for customers who want to be reimbursed for emergency repairs. 

Pros & Cons

Pros

  • - Offers a wide range of standard, specialized, and optional coverages, including emergency service
  • - Policyholders can work with one of 19,000 local agents nationwide
  • - Boat coverage can be bundled with other State Farm policies

Cons

  • - Prospective customers have to call an agent for a quote

Overview

The largest auto insurance provider in the U.S., State Farm also offers boat insurance that covers perils like sinking, fire, theft, storms, collision, and capsizing. Liability insurance coverage is also available in case your sailboat causes damage to other boats or structures and includes protection against related lawsuits. 

In addition to this standard coverage, State Farm automatically includes emergency service insurance that covers costs incurred from emergency repairs, as well as wreck removal, temporary repairs, and newly acquired boat coverage. Optional coverages—such as boat rental liability and fishing tournament fee reimbursement—are also available. 

Like several options on our list, State Farm does not offer online quotes for sailboat insurance. However, the website makes it easy to search State Farm’s extensive network of agents for someone who can meet your coverage needs.

Best for Flexible Coverage Options: Foremost

Foremost

 Foremost

No. of Policy Types: 7

Online Quote Tool: No

Coverage Limit ($): Varies by coverage type

Why We Chose It

Foremost customers benefit from the company’s wide range of insurance packages and flexible coverage options, plus extensive discounts. 

Pros & Cons

Pros

  • - Prospective policyholders can choose from a number of insurance packages and individual coverages
  • - Offers a wide range of discounts
  • - Working with a dedicated Foremost agent makes it easy to create a custom policy

Cons

  • - No online quoting tool for sailboat coverage

Overview

Foremost Insurance Group is another company that provides specialized insurance options. Because of this, Foremost customers can choose from a wide selection of flexible policy options, as well as optional coverage for uninsured watercraft, personal property, and even classic and custom boats. Foremost also offers customers access to a broad range of discounts, including a lay-up discount for long-term storage, paid-in-full discount, protective device discount, and multi-policy discount. 

When choosing a coverage package, sailboat owners can opt for the Saver package that includes an actual cash value loss settlement, or Plus, which includes agreed value/total loss replacement cost settlement and watersports liability. Customers can also select the Elite plan, which includes additional coverage for things like boat lifts, fishing tournament fees, trip interruption, and enhanced towing services.

Best Additional Benefits: BoatUS

BoatUS

 BoatUS

No. of Policy Types: 14

Online Quote Tool: Yes

Coverage Limit ($): Varies by coverage type

Why We Chose It

In addition to robust insurance coverage through GEICO, BoatUS policyholders can take advantage of additional membership perks like discounts on fuel and boat slips. 

Pros & Cons

Pros

  • - Extensive add-on coverage options are available
  • - Online quote tool is streamlined and easy to use
  • - Policyholders can start the claims process online or over the phone

Cons

  • - Some policyholders report premium increases 

Overview

BoatUS has offered sailboat insurance policies underwritten by GEICO Marine Insurance Company since it was acquired by the insurer in 2015. Policies are available in all 50 states, and customers don’t have to be BoatUS members to qualify for insurance through the platform. Sailboat owners can get a quote online, and policyholders benefit from GEICO’s well-reviewed customer service and claims management tools.

That said, BoatUS members receive additional benefits like discounts on fuel, slips, and other marine expenses. BoatUS membership starts at about $25 per year for the basic package, while the most expensive option—Unlimited Gold Towing—costs roughly $154 annually.

Final Verdict

Even if you’re not required to insure your sailboat, a policy can protect you from the financial risks of taking your craft out on the water. Beyond basic coverage, boaters can choose add-ons for boat trailers, uninsured boaters, fishing equipment, and emergency service. 

Our best overall sailboat insurance, Allstate, stands out for Treehugger readers because of the company’s well-reviewed policies. Not only can customers choose from a range of affordable coverage options, but there are also a number of discounts available to increase savings.

Compare the Best Sailboat Insurance

Company Policy Types (No.) Coverage Limit ($) Online Quote Tool Year Founded
Allstate
Best Overall
10 Varies by coverage type No Founded in 1931
Progressive
Best Budget
14 Varies by coverage type Yes Founded in 1937
Nationwide
Best for Policy Bundling
11 Varies by coverage type No Founded in 1926
State Farm
Best for Emergency Service Coverage
11 Varies by coverage type No Founded in 1922
Foremost
Best for Flexible Coverage Options
7 Varies by coverage type No Founded in 1952
BoatUS
Best Additional Benefits
14 Varies by coverage type Yes Founded in 1966

How to Choose the Best Sailboat Insurance

To select the best sailboat insurance, first, consider whether your state or lender imposes any specific coverage requirements. If you are required to carry insurance for your sailboat, shop around for policies that meet those requirements at a price within your budget. If insurance isn’t a necessity, build a policy at an affordable price point that’s consistent with how you use your boat. Some providers offer online quote-building tools, while others require prospective customers to call an agent for a custom quote. 

Frequently Asked Questions

Do I Need Sailboat Insurance?

Sailboat insurance isn’t typically required by law, but many lenders require borrowers to have comprehensive and collision coverage. Even if not required by law or your lender, sailboat insurance can protect you from the financial consequences of injuries or other damage caused while boating. Likewise, you can build a policy with an uninsured or underinsured boat to protect you from the acts of others. 

How Much Does Sailboat Insurance Cost?

The cost of sailboat insurance varies based on several factors, including the size and age of the boat, how and where you use the vessel, and the type of coverage you need. In general, though, boat and sailboat insurance costs between roughly 1% and 2% of the boat’s value each year. This typically equates to about $200 to $500 per year. 

What Does Sailboat Insurance Typically Cover?

Sailboat insurance generally covers theft of and damage to a watercraft. Policies can also include liability protection for owners who accidentally injure third parties or property with their sailboat. Often, sailboat insurance coverage extends to machinery, permanently attached equipment, fittings, furnishings, and the hull. As with auto policies, sailboat insurance can also include uninsured watercraft coverage and optional protection for boat trailers, accessories, towing, and special equipment. 

Methodology

To choose the best sailboat insurance, we compared 15 top insurers based on coverage options and the affordability of premiums. Where possible, we also looked at available coverage limits and whether prospective customers can get a policy quote and file claims online. Finally, we assesed discounts, customer service options, and reviews.