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Sailboat Insurance

Sailboat insurance is purchased to protect a sailboat owner's liability from harm or damages caused to themselves or to others. Any sailboat that is docked or stored in a marina will be required to have insurance, per the requirements of most marinas. Sailboat insurance is a necessity when sailing the coast or in offshore blue waters.

Coastal Sailboat Insurance

Apply for sailboat insurance anywhere along the east or west coast (USA only).

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Florida Sailboat Insurance

Only plan to sail in Florida? Get a quote for sailing in the beautiful Sunshine state.

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Offshore Sailboat Insurance

Sailing into the open blue waters? We love serious offshore sailors! Apply now and receive a quote.

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When receiving a sailboat insurance quote, you'll also be able to apply for for the following navigation areas:

  • Bahamas
  • Caribbean
  • Central America
  • The Great Lakes
  • Gulf of Mexico
  • and Europe

    • Sailboat Insurance Cost

    The cost for sailboat insurance truly depends on the needs of the sailor. Sailboats may be the same or similar, but every sailor has different sailing plans. The biggest factors that go in to the cost of your premium, which is the amount you pay in one year for insurance, are the following:

  • Purchase Price of your sailboat - To help determine the value of your sailboat, the insurance provider needs to know what you paid for the sailboat.
  • Requested amount of insurance - Typically, the requested insurance amount is the purchase price of the sailboat plus the cost of any upgrades.
  • Deductible - The amount you pay out-of-pocket before the insurance kicks in to cover the remaining cost of the damages. The deductible can be 1%, 2%, or 3% of the of the total coverage cost. The higher the deductible, the lower your premium will cost and vice versa.
  • Liability - The amount that will cover the cost of damages caused by you to other boats or people while sailing. The majority of marinas will require you to have liability in the amount of one million dollars ($1,000,000).

    • There are other factors that go into determining the cost of the premium, like the sailor's age and experience, however these attributes have a smaller influence on the price of the premium.

    Rates

    The average sailboat has a worth of about $75,000 dollars, so lets use that amount when trying to configure what our annual premium (rate) will be when purchasing sailboat insurance. This paticular sailor wants the lowest premium possible and has the following attributes and needs:

  • Requesting an insurance amount of $75,000 which is equal to the purchase price of the sailboat.
  • In order to have the lowest premium, this sailor is seeking a deductible of 3%.
  • Seeking a deductible in the amount of one million ($1,000,000) as this sailor will be keeping his/her sailboat in a marina.

    • If we take all this into consideration, the insurance provider will most likely quote this sailor with an annual premium in the range of $1,500 to $1,700 for the year.

    If this sailor runs into the unfortunate and needs help from their insurance provider, they will first need to pay $2,250 out-of-pocket which is 3% of the value of the sailboat (which in this example the value of the sailboat is $75,000), before the insurance covers the rest of the damage. Therefore, in this example, their insurance serves no use if damages do not exceed $2,250.

    Is Sailboat Insurance Required by Law?

    Sailboat insurance is not required by law. However, if your sailboat is financed or being parked at a marina, you will be required to purchase insurance in order to comply.