Progressive Boat Insurance – Details, Coverage Range And Pay Rates

This article explains the importance of boat insurance and sheds light on the damage coverage Progressive boat insurance provides its clients.

There is insurance for everything, so boats also require insurance for various reasons. The most important factor that causes the need for an insurance policy in the case of boats is liability insurance. This insurance is a type of precautionary measure and protects you in case of injuries, both to someone or someone’s property. This insurance program helps in providing coverage for medical expenses and repair compensation.

Boats are usually a highlight of summer!  People like to take boat rides and have fun. They’re flashy, fun, and freaking expensive to repair or replace. That’s why it’s better to pay for boat insurance than to hope you’ll get by with zero accidents.

Insurance usually increases the lifespan and life expectancy of any person’s possession. Whether it is a home, a car, or even a boat, insurance policies help elongate the life expectancy of one’s property—insurance benefits in protecting vessels, both on land and in water. All people who possess a boat should get an insurance policy for their ships.

Boat insurance helps protect any watercraft from specific risk factors. Property damage, injury, repair costs, etc., all get covered under vessel or boat insurance programs. In addition to this, a boat insurance program also helps its purchasers cover the cost to replace a boat or if a watercraft gets stolen. This insurance program provides various solutions, including indemnity coverage and damage to one’s own property and property of other people.

Many companies, including private and public, provide boat insurance to people with different pay rates and insurance coverage programs. Among these companies, Progressive is a very renowned name. This company is among the largest insurance-providing companies in the USA.

Providing different insurance programs, Progressive is the third-largest insurance carrier and provides insurance for passenger vehicles, motorcycles, trailers, boats and vessels, PWC, and commercial vehicles, etc. With its excellent insurance programs, this company rules the insurance world. Progressive boat insurance has helped and facilitated a lot of boat holders.

What is Progressive boat insurance?

The Progressive Corporation has been in the business since 1937 and has provided insurance to various people on a variety of different things. Its headquarters is in Mayfield, Ohio. From auto insurance to motorcycle insurance, from homeowners to renters insurance. From life to health insurance, from commercial insurance to boat insurance, this company provides a comprehensive line of insurance programs. In this article, we will read about boat insurance extensively.

Progressive provides insurance to boats up to 50 feet long and is below $500,000 in value. The insurance program covers all vessels on rivers, inland lakes, and water bodies within the USA. This company provides complete packages to its policyholders and offers the opportunity to self-customize your policy according to your needs. These additional factors of your choice can include the following:

  • Roadside assistance
  • On-water towing
  • Total loss replacement
  • Uninsured boaters coverage
  • Fuel spill liability
  • Wreckage removal coverage
  • Agreed value coverage

Any person wanting to attain and buy an insurance policy can either add factors of their own choice or simply customize the entire plan as well. Progressive boat insurance allows liability coverage to help with repair costs in the case of damage and provides medical coverage if you get an injury or someone else gets injured because of you. This helps boat owners keep their vessels in good conditions and take preventive measures.

According to a report, Progressive Corporation has over 18 million customers all over the USA and has around 20 million policies in force. Progressive has successfully developed its business and provided insurance programs to many customers with its satisfying services. People who run a boat business or work using a boat need an insurance policy. This will not just assist them in times of need, but it will also help them financially.

What factors affect boat insurance costs?

Many factors affect insurance rates in the case of boats. Like car insurance policies, boat insurance costs vary on similar aspects and many more. Some of these factors are as follows:

  • Type of boat
  • The motor of the boat
  • Condition of the boat
  • Age
  • Usage of the boat
  • Frequency
  • Location
  • Driving record

Type of boat

One of the most initial factors that affect insurance policies rates is the model or type of boat. The value of the vessel is directly proportional to the cost of the insurance policy. The more valuable a ship is, the more expensive its premium pay rates are. For instance, a yacht insurance policy always costs more than pontoon insurance because today, yachts are the most costly water bodies. Thus, whatever boat or ship a person possesses, its insurance rates will vary according to the boat type.

The motor of the boat

The boats’ motor is also an essential factor that decides the rates for an insurance policy. Ships with a high-power motor have a better speed and are way riskier. So, insurance companies charge more for boats with the high-powered motor. Insurance companies closely examine the inboard and outboard energy amount in horsepower to understand the pay rates for any vessel. In the case of auto insurance and boat insurance, the slower a boat’s motor, the lower insurance rates.

Condition of the boat

US Coast Guard Safety offers strict guidelines and conditions that any boat needs to meet to become eligible for insurance. If a vessel fails to meet these standards, the person has to pay higher premium rates to ensure coverage for damage and repair needs. Moreover, the ship’s state also predicts the life expectancy of the watercraft and its insurance pay rates.

Age of policyholder

How old a boat is, showcases its future in the water. In addition to this, the insured’s age is also a worth-mentioning factor that impacts the insurance pay rates and prices. Older people having older boats is a lousy combination regarding insurance rates. But if you are an individual above 25 and below 60, you can get better rates for older ships. Like car insurance, age plays a very vital role. The insurance program and price are greatly affected by the age of the insurance buyers.

The nature of usage

The purpose of keeping a ship is also a decision-making factor for insurance programs. Fishing and floating are two of the most lower-risk work that any person can do using boats. But towing water skis and wakeboards are riskier things to do. The nature of work also plays a prominent role in deciding the insurance rates for boat policies. A person who uses boats for risky activities will have to pay higher premiums to ensure complete coverage in the case of any sudden and unfortunate accident.


The more often a person uses his boat, the more premium he pays. If a person has less usage rate, he will be less at risk for accidents, sudden injuries, and property damage. If a person occasionally uses his boat, he must pay much lesser insurance premiums. Similarly, if a person uses his boat too often, his premiums will be higher.


The place where a person lives and uses a vessel also affects the overall pay rate of premiums. Some areas are a lot more dangerous than others containing water bodies. For instance, in a place where hurricanes are regular, the premium price will be higher than where there are no hurricanes. Similarly, sites with a higher risk factor also prove burdensome for people who want to purchase boat insurance. To have affordable premium rates, location is an essential aspect. Moreover, the type of water bodies a person uses in his vessel is also vital. Typically, lakes and rivers are safer options because there are fewer tidal waves, but oceans are high-risk. Thus, boats used in oceans have higher premium rates.

Driving record

Another essential factor that can either help you with premiums or empty your pockets every month is the driving record of the boat. A good driving record marks up all history of events that occurred within the period when a person was the owner of the ship. All types of accidents, injuries, recent insurance claims, etc., are the crucial things any insurance company wants to know beforehand. This record of driving the vehicle will determine the pay rate for premiums. Good driving history shows responsible behavior of the driver. This can help you get plus points and be considered eligible for lesser premium rates.

Which boats does a boat insurance policy cover?

Insurance usually allows people to make preventive preparations and be ready for sudden and unfortunate situations such as accidents and damage to their property or someone else’s property because of them. Thus, an insurance policy can help with finances and provide better coverage for damage repair and even vessel replacement. There are various types of boats, some smaller in size, while others are rather big, and their work nature also differs from one another. Some ships do not require any additional insurance program and get covered, and these boats include the following:

  • Kayaks
  • Canoes
  • Jon boats
  • Paddle boats
  • Boats with low-powered engines (usually less than 25 horsepower or less than 25 mph maximum speeds)

All these types of boats get covered under the homeowner’s insurance policy because they do not require a lot of coverage and the damage cost is easily adjustable. This type of insurance usually does not cover more considerable losses but can easily cover minor damages. For enormous coverage, boat insurance policies are mandatory. Progressive boat insurance provides insurance for the following boats:

  • Charter boats
  • Fishing boats
  • Houseboats
  • Personal watercrafts
  • Pontoons
  • Sailboats
  • Speedboats
  • Yachts

Charter boats

Charter boats are generally non-motorized rafts that provide accessible renting facilities to people. Thus, a charter boat is a vessel that is available for rent to carry passengers if the wonder of the boat maintains possession, command, control, and ownership. Such boats are relatively bigger and have a motor speed higher than 25 horsepower. These are also bigger, and that is why they require boat insurance.

Fishing boats

As the name suggests, fishing boats generally are used for catching fish. These vessels often have a space to keep the caught fish alive. These boats are more prominent and also have a higher risk of accidents and damage. Progressive boat insurance provides insurance programs for bigger vessels such as fishing boats and helps boat owners with crisis management.


A houseboat is a cabin that usually has one or two-room and is built in the shape of a house on top of wooden boards. This boat is for people who want to spend time and feel comfortable during their entire journey. Houseboats are bigger in size and also are prone to damage and accidents. This is why they require additional insurance policies.


These are also passenger boats that are common for recreation and strolls. These boats have a noticeable difference from a typical boat. Deck boats typically have a V-shaped hull, while pontoons lie flat on the water, with the deck balanced on two or three hollow aluminum tubes. It depends on the design of the boats. However, since these are bigger in size, have a bigger motor, and damage coverage can be expensive for these vessels, they require boat insurance programs.


A sailboat has sails attached to it on some parts of the boat or is entirely propelled by sails. A sailing ship typically symbolizes journey and adventure. These boats work in the direction of the wind and thus are great voyage carriers. Progressive boat insurance covers damage, repair costs, and other medical expenses for a sailboat.

Personal craft

A personal watercraft is a water scooter that is used for recreational purposes. This is a relatively expensive watercraft and thus requires an additional boat insurance program.


A speedboat is a powerboat that runs on an engine and is high in speed. Progressive boat insurance covers liability damage for these boats and helps cover all expensive costs.


Yachts are the biggest water boats that are present today. These are in use for pleasure, sailing, and racing. These can carry many passengers and are generally the most comfortable option. Their maintenance is also costly. This is why Progressive boat insurance is the most suitable insurance company that any yacht owner can approach. These are luxury vessels and need timely maintenance.

Type of boat insurance policies

Different companies offer insurance programs with coverage options. Two major boat insurance options are:

  • Agreed value
  • Actual cash value

Agreed value insurance policy

This insurance allows the insurance provider and the insurer to agree on the value of any covered item. The item that gets insured has a guarantee for that amount on which the insurer and insurance provider agrees upon. The agreed value provides coverage for all sorts of expenses and makes it easier for people to get insurance coverage equal to the property’s value. This type of insurance is widespread in the case of expensive and luxurious vehicles and boats. According to this policy, it provides coverage equal to the amount of the ship, and there is no total depreciation. However, partial depreciation is allowed.

Actual cash value

An actual cash value policy allows an insurance company to review the list of items that a person loses, calculate the current value, and provide an offer accordingly. This policy only pays for the items present on the list, and if, in any case, you do not replace or repair the items, you will not get the second payment. This type of insurance policy is restricted as it limits your coverage range and expenditures in case of damage to the boat.

Other coverage types

Depending upon the coverage range, there are several insurance coverage policies. Some of them are:

  • Specialized coverage
  • Salvage coverage
  • Consequential coverage
  • Towing
  • Cruising extension

Specialized coverage

This type of coverage policy provides coverage for something specific. For instance, any particular part of the boat is expensive and hard to repair. For this type of item, boat insurance provides convenience for their policyholders and helps them get this specialized coverage for their luxury boats.

Salvage coverage

In the case of accidents, any boat can face severe and severe damages. To cover these damages, salvage coverage is present that people can include in their policy programs to gain repair and damage loss.

Consequential coverage

A consequential coverage provides loss compensation for expenses that emerge due to damaged facilities or equipment. Business interruption can lead to a significant loss for people, especially for their boats to earn. Consequential coverage is present to cope with such damage and costly bills. For instance, in the case of business interruption, the insurance policy covers loss of revenue that occurs due to events that hinder the working of a boat. Progressive boat insurance provides its policyholders with this type of coverage to help them generate revenues from their businesses. Towing

In some situations, a vessel can get stuck in some remote place. In such cases, a person must tow his ship to a safe place. On average, towing your boat across a body of water to safety can cost $400 per hour. This is why adding towing coverage can prove highly beneficial. Moreover, it can also ensure the security of your vessels. The process of towing can also cost an arm and a leg. This is why adding its coverage can help vessel owners manage high costs.

Cruising extension

This type of insurance coverage provides coverage even when you decide to leave the USA for some time and go cruising using your ship. In such situations, insurance companies help their clients and customers cover major damage and loss.

Progressive boat insurance allows all coverage options for its clients and customers. Through its services and customer-friendly ways, Progressive has helped and provided insurance to many clients and offered them satisfactory services.

Why is Progressive the best boat insurance company?

Several things make Progressive an excellent option for boat insurance in addition to all other insurance policies it offers. With its satisfying services, Progressive offers relatively unique services to its clients. It sells insurance packages and programs directly to the public and independent insurance agents. This company covers insurance in all 50 states of the USA and even in Canada if you are traveling quickly.

How can you save money on Progressive auto insurance?

Progressive helps its customers and clients save money with its easily affordable policy options and programs. Certain factors provide additional discounts to a client and help him manage his damage cost and loss. Progressive provides insurance to students and discounts to people who purchase more than one insurance program. By offering discounts to its clients, Progressive has managed to attract 18 million customers all over the USA and is continuously inspiring people to get an insurance program.

Through, Progressive boat insurance, people can easily get rid of all expensive bills and costs and elongate the life expectancy of their vessels. Moreover, they can also be ready for any sudden and unfortunate injuries due to accidents through medical coverage. Thus, people can avail themselves of the best boat insurance policies and manage their everyday work by approaching Progressive.

Cheap boat insurance to attract more purchasers

Through its discounts and friendly services, Progressive provides customizable coverage to people, which allows them to focus on essential things. Progressive helps its clients get the most affordable and cheapest rates by giving a series of coverage ranges. This is one of the causes why Progressive continues to grow and expand its businesses in all of the 50 states it is working in.

Easy boat insurance quote to facilitate customers

Progressive helps clients get easy and quick quotes for boat insurance through its website and customer service helplines. Progressive boat insurance helps its purchasers to have access to all policy details and coverage plans easily. Customer service agents are available 24/7 to assist and help you whenever you need to get information regarding insurance policies, their coverage details, and premium pay rates.


With suitable insurance policies, people can easily prepare themselves for unfortunate and cost-demanding situations. The best possible way is to do research first and then choose which approach is the better option among all available plans. Not only can a boat insurance program facilitate you, but it also can be a significant relief for your pocket.
Start with a bit of fact-finding and study policy plans to compare and learn which option is the most suitable and affordable according to your budget. If need be, ask your boating friends which company they use and how their claims get covered by their insurance companies. The way an insurer has handled claims in the past is a good indicator of the quality of service, showing its credibility and authenticity.

Progressive boat insurance has been known as an all-rounder option in the case of boat insurance and insurance programs in general. So hurry up! Do not miss your chance of gaining better claims at a suitable price range.

Sandra Johnson

Sandra Johnson

Sandra Johnson was a few years out of school and took a job as a life insurance agent in California, selling coverage door-to-door for Prudential. The experience taught her about the technical components of insurance and its benefits for individuals and society, as well as the misunderstandings people often have about insurance. She has over ten years’ experience in the insurance industry, having worked as both a Broker and Underwriter, assisting clients across a broad range of industries. At Insurance Noon, Sarah diligently gathers all the required information and curates up pieces to provide meaningful insurance solutions. Her personal value proposition is to demonstrate a genuine interest in always adding value for clients.Her determined approach to guiding clients has turned her into a platinum adviser to multiple insurers.