American Modern Boat Insurace

American Modern Boat Insurace Review

American Modern Boat Insurace is an insurance carrier with headquarters in Amelia, OH. The company was established in 1938 and offers boat insurance in 50 states (and Washington, DC).

American Modern Boat Insurace FAQ

What types of boat insurance coverage does American Modern Boat Insurace offer?

Although we often talk about boat insurance in the singular, it really includes several types of coverage. American Modern Boat Insurace offers the following types of coverage: 

• Collision Coverage: Collision coverage is an optional policy that pays for the cost of repairing or replacing your boat after an accident. If you have a lease, the lender may require you to buy collision insurance.

• Water Sports Coverage: A must for boat owners who plant to use their vessel for water skiing, wakeboarding, and other water sports

• Salvage/Wreckage Removal: Some standard insurance policies will subtract salvage costs from the insured value of the boat or only offer a small percentage of the coverage amount for salvage. This endorsement protects from the specific costs and liability that go with a wreckage or salvage.

American Modern Boat Insurace also provides access to the following endorsements:

• Fishing Equipment and Carry-On Items: Add replacement coverage for fishing rods, reels, and tackle boxes. You can also add personal effects coverage for items you carry on your boat, such as phones and SCUBA gear. Items are covered if they’re damaged, stolen or fall off your boat.

• Total Loss Replacement: If it's a total loss, this policy will pay you based on the agreed value, actual cash value or the replacement cost value.

• Medical Payments Coverage: Medical payments insurance covers for the medical costs caused by an accident regardless of who is at fault. Most policies will also cover funeral expenses.

What is the financial strength rating of American Modern Boat Insurace?

The financial strength rating of an insurance company scores its ability to pay contracts and policies. Each agency has its own standards and rating scale and a company's rating can change any day. It's a good idea to check the financial rating of an insurance company before you purchase a policy. There are five main rating agencies.  SuperMoney's financial strength rating is based, among other factors, on the average score of available ratings.

American Modern Boat Insurace scores an A+, SuperMoney's highest available rating.