FAQs

Agreed Value:

In the case of a loss the company will pay the amount stated on the declarations page minus the deductible with no depreciation.

Replacement Cost:

In the case of a loss the company will pay the cost to replace the lost or damaged property with new property minus the deductible.

Read your policy closely or call your agent to find out what type of coverage you have. This will help avoid some very unpleasant surprises in the case of a claim.

The Hull Value includes your boat, engines, electronics and other equipment you use with the boat.

Protection and Indemnity (P&I) refers to the liability section of the policy. This is coverage for bodily injury or property damage that results from the use of your watercraft (i.e.: damage that you do to another boat or bodily injuries that arise from this damage). You are covered while operating your vessel, as well while operating vessels owned by others. It also pays your defense costs over and above the policy limits if you are found legally responsible for bodily injury or property damage to a third party.

You are covered anywhere in the continental United States. Navigation extensions are available for the Bahamas, the Caribbean, and Canada.

Additionally, boaters that stay in restricted cruising areas, such as the Great Lakes, Chesapeake Bay or Puget Sound, are eligible for premium discounts. We can tailor a policy to your specific navigational needs.

You don't need to be a Sea Tow Member to get a quote. However, if you decide to bind coverage, you will need to be an active Sea Tow member. If you are not currently a member of Sea Tow, we will gladly sign you up at the same time you start your insurance.

The most important thing to consider is how your insurance policy will respond in the case of a claim – when you need it most. Watercraft insurance is not a “one size fits all” proposal. There are many differences in coverage between different policies. Once you are confident that you have a coverage package that fits your needs, then here are some factors that affect your premium.

Safety Courses – Credits are offered for boating safety courses that you have completed such as a Coast Guard or US Power Squadron course.

All insurance submissions are evaluated for their risk and acceptability by the insurance carrier. Most submissions will be accepted. Some, however, may not fit into the program.