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Boat Repair Cost Coverage

Repair Cost Coverage for Boats

Whether a fishing boat, personal watercraft (PWC) or power boat, protecting your watercraft with insurance is one of the smartest moves you can make. And making sure you’re educated about your coverage options will help you better protect your investment. Learn how optional coverages, like repair cost coverage, provide greater protection for your boat if the unexpected happens.

What Is Repair Cost Coverage for Boats?

In the event of a covered loss, if your boat is damaged, but not destroyed, this coverage will help pay for repairs without depreciation. This means we’ll pay what it costs to return your boat to its pre-accident condition or better when repaired.

For instance, suppose you’re docking your boat and accidentally damage the fiberglass hull. Repair cost coverage for your boat will help to cover the costs to restore your boat. Or if your boat is vandalized and your windshield’s been broken, we’ll do our best to make your boat whole again with this coverage.

If you’d like coverage that will pay for repairs without depreciation in the event of a total loss, you’ll need to purchase an additional agreed value endorsement. So, be sure to reach out to your American Family Insurance agent to get this important endorsement.

What Is Covered by Boat Repair Cost Coverage?

As long as your boat and motor are less than 15 years old, repair cost insurance for boats helps to handle cost of the repair work done on your boat, motor, equipment or trailer. Take a look at the ways boat repair cost coverage can help protect your finances by helping to cover:

  • Damage to the motor
  • Damage to the hull
  • Damage due to grounding or hitting hidden objects underwater

How Much Does Boat Repair Insurance Cost?

When you add repair cost coverage to your boat policy, your premium will typically increase but it’s a small price to pay if your boat experiences damage. Issues arising from foul weather alone can leave you with a hefty bill to get your boat back in the water.

If you’re into and out of a highly trafficked marina, or if you moor your boat on a slip, this extra coverage can be key. You’ll find more peace of mind knowing that if something happens while you’re away, your boat can be better protected.


Additional Boat Insurance Coverages

American Family Insurance offers optional coverages to enhance your protection and your peace of mind. Take a look and find out ways you can customize your boat policy to match your needs:

Diminishing Deductible coverage

This great program rewards safe boat operations with a credit that grows over time. With this coverage, we’ll credit (lower) your deductible to help you better prepare for the out-of-pocket expenses if you have a claim.

Personal effects and fishing equipment coverage

This add-on coverage protects you against the loss of those extra items you may use on your boat, such as fishing equipment, diving equipment and clothing.

Agreed value hull coverage

With this coverage, we will pay the agreed value limit you select for your insured watercraft in the event of a covered total loss. The coverage automatically includes repair cost coverage for partial losses. Note that Minnesota residents are required to have agreed upon boat coverage.

Uninsured or underinsured watercraft coverage

This coverage helps protect you against damages suffered in an accident caused by a driver who has no liability coverage or inadequate liability coverage.

Learn More About Boat Repair Cost Coverage Today

Connect with an American Family Insurance agent to learn more about your coverage options for protecting your boat or watercraft.