- Best Overall: Allstate.
- Progressive: Best for Cheap Boat Insurance.
- Nationwide: Best for Policy Bundling.
- Foremost: Best Variety of Coverage.
- Markel: Best for Fishermen.
How much should you insure a boat for?
The average cost of boat insurance is $200 to $500 a year—although for a really big or expensive boat (like a yacht or sailboat), insurance can cost around 1–5% of the boat’s value. For example, you may pay about $2,500 a year to insure a $100,000 yacht.
Is it worth getting boat insurance?
Keeping your boat insured is a good idea, especially with comprehensive coverage. Your boat insurance will still cover theft, hail damage, and other hazards while it’s stored. Plus, you won’t have to worry about reactivating your policy once you’re ready to get back out on the water.
Is boat insurance a legal requirement UK?
No, you do not need boat insurance in the UK to own or even use your boat. As a boat owner, it’s not a legal requirement for you to have insurance…with some exceptions. That being said, there are certain marinas, and most inland waterways that insist on boat owners to have at least some form of boat insurance.