Boat Insurance Benefits

Three Of the Most Important Reasons For Insuring
Your Boat With A Marine Insurance Company.

In all likelihood, you bought your boat from a dealer who specializes in boats. So when it comes to insuring your boat, doesn’t it make sense to do that with a company that also specializes in boats?

Here are three of the most important reasons why having your boat on its own insurance policy simply makes sense,

1. Insuring your boat through your home or auto policy means any claims for damages on your boat will count as claims on the whole policy. We have heard from many clients that claims frequency was cited by their insurer as reason to cancel their policy or, most often, simply raise their premiums. A boat only policy with MD Marine eliminates this risk.

2. The coverage for home insurance and boat insurance are quite different from each other. In almost every case, the quality of coverage your boat would have when added to a home policy would not contain anywhere near the amount of coverage that a stand-alone boat policy would offer.

3. The basis of settlement on a home insurance policy for boats is measured in terms of actual cash value (replacement cost less depreciation). This can often make calculating a claim value extremely complex and difficult, and in the end it could actually cost you more money than you thought. Conversely, the basis of settlement on stand-alone boat policy is usually based on ‘agreed value’. And that truly is boat insurance made easy!

The right policy for your boat is not your home or cottage policy.
Compare and see the difference for yourself.

We invite you to mouse over the benefits for a more detailed explanation.

Benefits * MD Marine Policy *Home & Auto Policy
Vermin Coverage Not Available
Theft – No locks required Not Available
Agreed Value Limited
Personal Effects Limited
Guaranteed Replacement Cost: Not Available
Additional Expenses Limited
Competitive Rates Limited
Accident Benefits Limited
Emergency Towing Limited
Claims Guarantee Not Available
Marine Assistance Not Available
Liability – Up to $2 Million
Payment Options Limited

* Based on information available at the time of production. Subject to change

Our team of marine experts are always ready to help. To contact our team call 1-877-627-4633.

We provide coverages for a wide range of watercraft. Simply click on a boat for more information.


Runabouts are designed for versatility - capable of being used for fishing, for watersports or for cruising. They feature seating in the bow, swim platforms at the stern, and are powered either by stern drive, an outboard motor or a jet engine. Runabouts range in size from 16ft.-28ft There are many ‘semi rigid’ inflatable boats available today that are true runabouts. These have a fiberglass hull and inflatable tubes on the sides and feature 40 – 150HP outboard engines.


Pontoon Boats are designed for comfort cruising, but with higher horsepower engines, they can be used for watersports. They feature a hull constructed from closed cylinders commonly referred to as tubes or logs. Small pontoon boats with 25 – 90 HP engines are typically two tube design while larger models 22’ ++ will carry 115 – 250 HP engines and have three tubes in the water. They are powered by stern drive or (99% of pontoon boats) an outboard motor, and can reach speeds of up to 55mph. Pontoon Boats range in size from 16ft.-30ft


Fishing Boats are versatile boats which are designed to navigate many different types of waterways. They typically feature live wells, rod lockers, a bow (front) or transom (aft) trolling motor. Most fishing boats are powered by an outboard or outboard jet engine. Fishing Boats typically range in size from 8ft.- 30ft


Personal Watercraft are designed for watersports and touring. They are easy to store, maintain and transport. Many PWCs feature adjustable handlebars, onboard storage, reboarding steps and towhooks for towing skiers and tubes. They have fiberglass shells, are powered by a jet engine and can reach speeds of 50-65mph. Personal Watercraft range in size from 8ft. We do not insure Stand-up (Seatless) Personal Watercraft


Jet Boats are designed to be fast and maneuverable, with seating front and back, and a swim platform. They differ from Bowriders in that they feature a propulsion system which is almost entirely enclosed within the hull (just like a PWC), thus mitigating risk of damage from impact with obstacles or the water’s bottom. They have fiberglass shells, are powered by one or two jet engines (Rotax, Mercury or Yamaha) and can reach speeds of 50mph. Jet Boats range in size from 14ft.-25ft


Cabin Cruisers are designed for fishing or for day or overnight cruising. They feature fiberglass hull and decks, and many creature comforts, such as a galley (kitchen), head (toilet), at least one berth (sleeping quarters), as well as heating, air conditioning, water heaters, power generators and shore power systems. They are powered either by stern drive or an inboard engine. Cabin Cruisers range in size from 20ft.-75ft


Ski Boats (or Tow Boats) are designed for watersports. These are purpose built boats designed to wake surf, tow skiers or passengers on tubes. They have fiberglass hulls, are powered by an inboard engine, and may be equipped with a series of ballast tanks which produce additional wake behind the boat for surfing or wake boarding. Ski boats can reach speeds of 50mph. Ski Boats range in size from 18ft.-25ft.


Deck Boats are designed to accommodate many passengers as they have large seating areas like pontoon boats. They feature a fast, manoeuvrable V-bottom hull that skims over the water and are powerful, making them ideal for water sports. They are powered either by stern drive or an outboard motor, and can reach speeds of up to 50mph. Deck Boats range in size from 16-26ft


The term ‘Sailboat’ describes a wide variety of boats, which differ based on size, hull configuration, keel type, number of sails, use and purpose. The one feature that is common to all Sailboats is that they are powered partly or entirely by wind. Sailboats range in size from 7ft.-70ft.


Bass Boats are low sided, sleek boats which are designed to accommodate 2 or 3 anglers. Many of these oats are used in tournament fishing. They feature live wells, bait wells. Tournament style boats are typically 18 – 22 ft. in length and have 150-250hp engines. Bass boats range in size from 16ft.-25ft


Sport Boats are designed for high speeds and precise handling. They feature sleek fiberglass hulls and high horsepower. Sport boats can be equipped with sleeping and toilet facilities. These boats are powered either by stern drive, an outboard motor, an inboard or jet engine. Sport boats can reach speeds of 65-80mph. Sport Boats range in size from 16ft-27ft.

Experience, Expertise & Dedication
More Boaters Trust Us…And That Says It All

We’d love to help you get started on your boat insurance.

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