Best Boat Insurance: Which Offers The Top Tow Coverage?

Boat insurance is an important consideration for boat owners, and while it's not a legal requirement in most places, it can provide peace of mind and financial protection in the event of an accident or breakdown. When it comes to tow insurance, Sea Tow and TowBoatUS (BoatUS) are the two major national boat towing networks offering on-water assistance and towing services to members and non-members. Sea Tow offers unlimited towing with no distance or dollar limits in your home area, while BoatUS provides unlimited towing services at a low price. In addition to these specialised towing companies, some insurance companies offer boat insurance plans that include towing coverage or riders for certain towing expenses. When choosing boat insurance with tow coverage, it's important to consider factors such as the company's reputation, coverage options, cost, and customer experience.

Sea Tow vs BoatUS

Sea Tow and BoatUS are two of the major providers of on-water assistance for boaters. Both companies offer towing insurance plans that reimburse all or part of the cost of a tow. They also have several similarities and differences in their services, benefits, and drawbacks.

Similarities

Sea Tow and BoatUS share several similarities in their services. Both companies provide towing insurance plans and cover boats 30 feet in length or more, including inflatable watercrafts and PWCs. They also offer 24/7 dispatch services and have apps that make calling for help convenient. Additionally, they provide on-water assistance to members and non-members, although getting a tow can be expensive for non-members, typically costing at least $250 per hour.

Differences

The key difference between Sea Tow and BoatUS lies in the range of benefits offered. Sea Tow provides a broader range of benefits, including jump starts, fuel delivery, lockout service, and more. With their Gold Package, Sea Tow protects every boat owned by the member, regardless of who is driving. On the other hand, BoatUS, being the largest on-water assistance provider in the United States, offers reliable services and affordable memberships. Their memberships cover boats 30 feet long or more and provide access to exclusive member discounts and a 24/7 dispatch center.

Benefits and Drawbacks

Both Sea Tow and BoatUS have their advantages and disadvantages. Sea Tow stands out for its extensive services and value, offering membership plans with annual options starting at $119 and access to discounts. BoatUS, as the largest provider in the US, offers reliable services and affordable memberships. However, when deciding between the two, it is important to consider specific needs, such as the ability to access exclusive discounts and rewards, which Sea Tow provides.

Membership options

There are a few membership options available for boat owners that include towing services. The two major national boat towing networks are Sea Tow and TowBoatUS (BoatUS). Both companies provide on-water assistance to members and non-members. However, the cost of a tow without a membership can be very expensive, often charging at least $250 an hour, including travel time. Therefore, it is worth considering the membership options available.

Sea Tow offers a Gold Card membership for $249 per year, which covers members wherever they boat, whether on the coast or inland. Sea Tow also offers a Lake Card membership, which is not available in Florida, for those who boat in fresh, non-tidal waters. Sea Tow offers priority service for members and has over 500 ports nationwide.

BoatUS offers three membership plans to fit different boating needs. The first is an Unlimited Freshwater Towing Membership for $109 per year, which includes unlimited freshwater towing and other benefits. The second is an Unlimited Saltwater Towing Membership for $175 per year, which includes unlimited saltwater towing and other benefits. The third is an Unlimited Gold Towing Membership, which includes all the benefits of the Unlimited Saltwater Towing Membership, plus 100% dock-to-dock tows for repairs.

In addition to these membership options, some insurance companies offer a rider or include some level of reimbursement for towing expenses in their boat insurance policies. However, it is important to carefully review what services are covered and up to what dollar amount. With these insurance policies, you may have to pay out of pocket for the towing services upfront and then wait for reimbursement. Additionally, you may have to wait longer for service if you don't have a membership with a towing company.

Therefore, it is recommended to compare the different membership and insurance options available to find the best fit for your specific boating needs.

Cost of membership

The cost of membership for boat insurance with towing services depends on whether you are boating in freshwater or saltwater. Freshwater boaters outside of Florida can expect to pay around $100 to $120 per year for membership, whereas saltwater boaters can expect to pay between $165 and $180 per year.

Sea Tow, for example, offers a Gold Card membership for $249 per year, which includes 24/7 priority on-water assistance, unlimited towing, fuel delivery, jump starts, and more. Their Lake Card membership is also available for boaters in freshwater, non-tidal waters (excluding Florida), although the price is not listed.

BoatUS offers three levels of membership plans:

• Unlimited Freshwater Towing Membership for $109/year
• Unlimited Saltwater Towing Membership for $175/year
• Unlimited Gold Towing Membership (for those wanting 100% of their towing bill paid)

BoatUS also offers a basic membership option, which includes 50% reimbursement for dock-to-dock tows for repairs and reimbursement of up to $2,500 for tows outside of the TowBoatUS service area.

It is worth noting that some insurance companies offer a rider or include some level of reimbursement for towing expenses. However, these options may have limitations on the services covered and the dollar amount reimbursed. Additionally, you may have to pay upfront and wait for reimbursement, and the response time may be longer if you don't have a membership with a towing company.

Therefore, it is essential to consider the benefits and coverage provided by each membership option and choose the one that best suits your boating needs and location.

What's included in boat insurance policies

Boat insurance policies vary depending on the insurance provider and the type of policy. However, there are standard coverages included in most policies. These are:

• Medical payments
• Personal effects
• Uninsured boaters liability
• Towing and assistance
• Fishing equipment

Additionally, boat insurance policies can cover damage and loss caused by common risks such as sinking, fire, storms, theft, and collision. The property covered can vary, but the policy will typically cover the hull and other components, such as extra fuel tanks, batteries, and onboard safety equipment.

It's important to note that boat insurance does not cover every type of loss. Typical exclusions include wear and tear, marring, denting, animal damage, manufacturing defects, design defects, and ice and freezing.

When it comes to towing and assistance coverage, this can save you from hefty fees if your boat becomes stranded or disabled. It's also worth noting that some insurance providers offer unlimited towing packages with 24/7 dispatch.

Boat insurance policies can also include additional coverages such as:

• Reimbursement for your boat rental in case of a covered loss
• Coverage for your boat when rented to others
• Liability coverage when using a rented boat
• Uninsured and underinsured coverage

Best boat insurance companies

When it comes to the best boat insurance companies, there are several options to consider. Here is a list of some of the top providers and their key features:

Progressive

Progressive is often recommended as the best overall choice for boat insurance. They offer a wide range of coverage options, including comprehensive coverage, collision insurance, and uninsured watercraft coverage. Progressive also has a large selection of discounts, such as bundling with other policies and prompt payment discounts. Their rates start as low as $100 per year, making them an affordable option as well.

BoatUS (Boat Owners Association of the United States)

BoatUS is a great option, especially for those seeking membership benefits. They offer a wide range of specialized coverage options, such as fishing guide coverage and a lifetime repair guarantee. BoatUS also provides expansive cruising areas, which is ideal for dedicated boaters. Additionally, they offer a membership program with benefits similar to AAA for your car, including discounts on towing services and boating stores.

Foremost

Foremost stands out for its insurance packages tailored to different boat types, ages, and coverage levels. They offer over five packages, including specialized options for pontoon boats, older boats, speedboats, and personal watercraft. Foremost also includes emergency on-water assistance with many of its policies and has multiple discount options available.

State Farm

State Farm is the country's largest insurer and is an excellent choice for boat rental insurance. They offer coverage for a wide range of watercraft, including yachts, kayaks, and canoes. State Farm provides optional liability protection for rented boats and reimburses rental costs if your boat is being repaired. They also cover expenses for damage caused by your boat to other people's property.

Chubb

Chubb is a top choice for yacht insurance, covering yachts between 36 and 70 feet in length and valued up to $3 million. They offer standard coverage options like agreed value coverage and liability protection, as well as additional benefits such as complimentary background screenings and discounted security services.

Markel

Markel is recommended for commercial boat insurance, covering watercraft used for business purposes like commercial fishing, boating classes, and chartering. They offer liability coverage for property damage, bodily injury, and pollution liability. Markel's policies start at $100 per year, and they have a diminishing deductible program that reduces your deductible for each claim-free year.

National Boat Owners Association (NBOA)

The NBOA is an insurance agency that connects you with the best providers for your needs. They work with insurers offering coverage for various boat types, including speed boats, sailboats, yachts, and jet skis. While a membership is not required, NBOA members receive benefits such as emergency towing and discounts at marine retailers.

Frequently asked questions