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Boat Insurance FAQs

Boat Insurance FAQs

Sea Insure FAQs

Search our frequently asked questions below or contact us for more specific inquiries. Call 877-568-1672 to speak to a representative.

Where am I covered to use my boat?

Sea Insure® can accommodate boater's needs nationwide, tailoring policies to your specific requirements. Boaters that stay in restricted cruising areas, such as inland waters, Chesapeake Bay or Puget Sound, are eligible for premium discounts.

What is the difference between Agreed Value, Replacement Cost and Actual Cash Value policy options?

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.

Actual Cash Value - In the event of a total loss, the market value, determined by age and condition of the boat at the time of the loss. (Money-saving option.) 

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.

What is Protection and Indemnity (P&I)?

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.

What does Hull Value include?

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

How can I save money on my boat 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.

Do I need to be a Sea Tow Member to get an insurance quote?

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.

Will choosing a higher deductible lower my premium?

Yes. There are other ways to save too. Check out safety courses – credits are offered for boating safety courses that you have completed such as a Coast Guard or US Power Squadron course.

Am I guaranteed insurance if I apply?

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.

Does Sea Insure require a formal written Storm Plan detailing where and how the boat must be secured during a major storm?

If your boat is located south of Morehead City, North Carolina, a formal written Storm Plan is required. However, we do recommend everyone keep a plan in the event of a major storm. Designate a responsible person to execute the plan if you are out of town when a hurricane threatens. You may download a template here »