What is a Hull Deductible for Boat Insurance? A Comprehensive Guide

The hull deductible is the amount you will pay if you suffer a loss of your boat, machinery, and equipment. It can be a fixed amount or a percentage of the vessel's value. Liability coverage also helps cover your legal defense costs in the event of an incident that is covered by your boat insurance policy. GEICO Marine Insurance Company is based in Omaha, Nebraska, and offers coverage in all 50 states and the District of Columbia for boat owners with a U.

S. registration. The term 'hull deductible' can be used for boats or aircraft, but it specifically refers to vessels when talking about marine hull insurance. Since liability insurance for boats is not mandatory, there are many boaters who operate without it.

For instance, if your boat has a low monetary value, it may not be worth adding comprehensive and collision coverage. However, if you cannot afford to repair or replace your boat out of pocket, then it can be beneficial. This information should help you make an informed decision when buying insurance for your boat. If you own an older boat, the insurer may require a recent marine survey of your boat before providing a quote or offering coverage. Comprehensive boat coverage can be useful if you live in an area prone to hurricanes, storm surges, or winter blizzards as your boat could be at greater risk of unexpected physical damage.

It is advisable to select a policy that will continue to cover your boat while it is stored on land or while being transported overland in a trailer. When comparing physical damage coverage, the most significant difference between insurance policies for boats or yachts is whether the settlement of losses is based on the agreed value or the actual cash value (ACV). The boat owner is responsible for maintaining their vessel, so normal wear and tear is usually excluded from boat or yacht policies.

What Is Covered by Boat Insurance?

Boat insurance typically covers physical damage to the vessel itself as well as any equipment that is permanently attached to it. This includes items such as motors, sails, masts, and rigging. It also covers personal property that is stored on board such as fishing gear and electronics.

In addition to physical damage coverage, most policies also include liability protection which covers bodily injury and property damage caused by the insured vessel.

What Is Not Covered by Boat Insurance?

Boat insurance does not cover any damage caused by normal wear and tear or lack of maintenance. It also does not cover any damage caused by intentional acts or criminal activities. Additionally, most policies do not cover any damage caused by marine life such as whales or sharks.

How Much Does Boat Insurance Cost?

The cost of boat insurance varies depending on several factors such as the type of vessel, its age and condition, where it is stored, and how often it is used. Generally speaking, larger vessels with more powerful engines tend to cost more to insure than smaller vessels with less powerful engines.

Additionally, boats that are stored in areas prone to hurricanes or other natural disasters may cost more to insure than those stored in safer locations.


The hull deductible is an important part of any boat insurance policy and should be taken into consideration when selecting coverage. It is important to understand what is covered and what is not covered by your policy so that you can make an informed decision when purchasing insurance for your boat.

Jerri Ament
Jerri Ament

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