State Farm Boat Insurance: Is It Worth The Cost?

State Farm is a well-known insurance company that offers a range of insurance products, including boat insurance. But is their boat insurance any good?

State Farm's boat insurance covers a wide range of watercraft, from fishing boats to jet skis, and offers protection against various perils such as sinking, fire, storms, theft, and collision. It also includes liability coverage and medical payments. Additionally, they provide add-on coverages like fishing tournament fee reimbursement and incidental commercial fishing coverage.

Reviews for State Farm's boat insurance are generally positive, with many customers praising their helpful local agents and easy claims process. The company has a rating of 3.7 out of 5 on ConsumersAdvocate.org and a B rating from the Better Business Bureau. However, there are also some negative reviews, with customers expressing disappointment over coverage not meeting their expectations during the claims process.

Overall, State Farm boat insurance appears to be a good option for those seeking comprehensive coverage and personalised service, especially if you already have other policies with the company.

State Farm's boat insurance coverage options

State Farm offers a wide range of boat insurance coverage options for both commercial and recreational boats. Their policies can be tailored to fit your specific needs and cover a variety of watercraft, from fishing boats to yachts. Here are the key coverage options offered by State Farm:

Standard Coverage Options:

• Bodily Injury Liability: Covers medical expenses, lost wages, and other related costs for individuals other than the policyholder who are injured in an accident where the policyholder is at fault.
• Property Damage Liability: Covers damages to other people's boats and personal property when the policyholder is at fault for a boating accident.
• Collision Insurance: Covers damages to the policyholder's boat, regardless of who is at fault in an accident.
• Comprehensive Coverage: Protects against physical damages to the boat from non-accident causes, such as fire, theft, vandalism, or weather events.
• Medical Payments: Covers medical expenses for the policyholder and their passengers in the event of a covered accident, regardless of who is at fault.
• Uninsured Boater Coverage: Covers property damage and injury expenses if the policyholder is in an accident with an uninsured or underinsured boater.

Additional Coverage Options:

• Boat Rental Liability: Provides liability coverage when the policyholder rents a boat for personal use.
• Boat Rental Reimbursement and Liability: Covers the cost of renting a boat if the policyholder's boat is being repaired or is a total loss, and also provides liability coverage for the rented boat.
• Boat Rented to Others: Provides liability coverage if someone rents the policyholder's boat and is at fault for an accident.
• Fishing Tournament Fee Reimbursement: Reimburses prepaid fishing tournament entry fees if the policyholder is unable to participate due to a covered loss, such as boat damage, illness, or a breakdown of their towing vehicle.
• Incidental Commercial Fishing: Offers property damage and liability coverage for those who use their boat for a fishing business.

State Farm also includes several benefits in their boat insurance policies, such as coverage for temporary repairs, emergency services, and wreck removal. Additionally, they offer various discounts, such as completing a boating safety course and establishing a lay-up period for your boat during certain months.

Pros and cons of State Farm's boat insurance

State Farm Boat Insurance offers a wide range of benefits and comprehensive coverage for boat owners. Here are some pros and cons to help you decide if their insurance is right for you:

Pros:

• Great Coverage Options: State Farm provides coverage for a variety of watercraft, including fishing boats, houseboats, ski boats, jet skis, kayaks, sailboats, and more. They also offer a range of standard and additional coverage options, such as bodily injury liability, property damage liability, collision insurance, comprehensive coverage, and medical payments.
• Commercial Coverage: State Farm stands out for its commercial coverage options, which are ideal for people who use their boats for business. This includes commercial liability coverage and rental boat insurance.
• Local Agents: With the largest network of local insurance agents in the country, State Farm offers personalized service and assistance in-person, online, or over the phone.
• Basic Contract Inclusions: State Farm's basic contracts include useful benefits such as temporary repairs, emergency services, and wreck removal coverage.
• Customer Satisfaction: Many customers have reported satisfaction with State Farm's boat insurance, praising helpful local agents and an easy claims process.
• Safety Course Discounts: State Farm offers discounts on premiums for customers who have completed an approved boating safety course.

Cons:

• Limited Discounts: State Farm does not advertise as many discount opportunities as its competitors, which may impact your ability to reduce costs.
• Coverage Expectations: Some negative reviews mention issues with coverage not meeting customers' expectations during the claims process.
• BBB Rating: State Farm holds a B rating from the Better Business Bureau (BBB), with an average customer review score of 1.2 out of 5 stars. However, this is fairly common in the industry, as people tend to leave reviews when they have issues.

Overall, State Farm Boat Insurance offers a comprehensive range of coverage options and benefits, with particularly strong offerings for commercial boaters. While there are some negative reviews and limited advertised discounts, many customers have praised their local agents and claims process.

Customer reviews of State Farm's boat insurance

On MarketWatch, State Farm Boat Insurance has been given a rating of 8.8 out of 10 based on the strength of its reputation and its wealth of coverage options for commercial boaters. The review highlights State Farm's local agents, basic policies that include emergency assistance, and commercial coverage as standout features. However, it is noted that there are few advertised discounts.

On ConsumersAdvocate.org, State Farm Boat Insurance has been given an overall rating of 3.7 out of 5, described as "very good". The review highlights State Farm's financial strength and reputation, coverage and benefits, and customer experience as positive features. However, it is noted that there is a lack of reviews specifically related to State Farm's boat insurance product, and the website offers limited information on coverages, benefits, and discounts compared to competitors.

State Farm's boat insurance discounts

State Farm offers a range of boat insurance discounts that can help lower your premium. While they don't advertise as many discount opportunities as their competitors, the ones they do offer can still result in substantial savings. Here are some of the boat insurance discounts that State Farm mentions on its website:

Boat Safety Education Discount

State Farm offers a discount on premiums for completing a state-approved boat safety course. This discount encourages boaters to improve their safety knowledge and skills, which can help reduce the risk of accidents and incidents on the water.

Lay-Up Period Discount

The lay-up period is a period during which you agree to decommission your boat, typically during the winter months when boating activity is lower. By establishing or lengthening your lay-up period, you may be eligible for lower rates on your boat insurance premium. However, it's important to note that damages that occur during this period may not be covered under the policy.

Freshwater Boating Discount

State Farm may offer a discount if you primarily use your boat in freshwater rather than saltwater environments. This discount takes into account the fact that saltwater can be more corrosive and damaging to boat hulls and engines over time, leading to potentially higher maintenance and repair costs.

In addition to the discounts mentioned above, State Farm also offers other ways to save on your boat insurance. They provide coverage for a wide range of vessels, including fishing boats, houseboats, ski boats, jet skis, kayaks, and sailboats. You can also tailor your policy to include various add-ons, such as rental boat coverage, fishing tournament fee reimbursement, and incidental commercial fishing coverage.

Furthermore, State Farm's basic contracts include valuable benefits such as temporary repairs, emergency services, and wreck removal, providing comprehensive protection for your vessel. Their large network of local insurance agents means you can access assistance and support in-person, in addition to their online and phone services.

State Farm's boat insurance claims process

The process for filing a claim is not explicitly outlined on the State Farm website, but it does provide a list of the types of incidents that are covered by its boat insurance policies. These include:

• Sinking
• Fire
• Storms
• Theft
• Collision
• Capsizing
• Explosion
• Stranding
• Submerged objects
• Trailer damage
• Fire damage
• Submerged object collision
• Motor and drive theft
• Liability claims

State Farm also offers add-on coverage for emergency services, which covers up to a specified amount for emergency services for your boat, boat trailer, or motor. This is similar to an auto insurance roadside assistance plan.

State Farm's customer reviews indicate that the company provides excellent claims service, with some customers reporting that they received their claim check just a few days after submitting their marina's repair estimate. The company also provides a 24/7 claims processing service.

State Farm's boat insurance policies also include wreckage removal coverage, which is important to have in the event that you are legally required to remove a wreck.

Frequently asked questions