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GEICO

in Boaters Insurance

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GEICO

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in Boaters Insurance

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Overview

Where does GEICO do business?

GEICO is an insurance carrier with headquarters in Chevy Chase, MD. The company was established in 1936 and offers boat insurance in 50 states (and Washington, DC).

What types of boat insurance coverage does GEICO offer?

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

  • Bodily Injury Coverage: This insurance pays for your legal defense and for the costs associated with injuries to other people involved in an accident. 

  • Property Damage Coverage: Usually, this insurance will look after the property damage you cause to another boat or property when at fault in an accident.

  • 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.

  •  Comprehensive Coverage: If your boat is damaged in an event other than a collision, comprehensive coverage will pay for the cost of the repair. Covered events include storms, floods, fire, vandalism, and theft.

  • Fuel Spill Clean-Up: Protects you from cleanup claims or third-party damage caused by the accidental discharge of oil or fuel.

  • 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.

GEICO also provides access to the following endorsements:

  • Hurricane Coverage: Pays for the damages caused by tropical storms, tornadoes, windstorms, and hurricanes.

  • Ice / Freeze Coverage: Protection for damage from snow, ice or freezing. Even if you choose to pay for indoor heated storage, you may need this rider in cases of electricity failure.

  • 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.

  • Personal Injury Protection: Personal injury protection, also known as PIP, typically covers medical expenses, loss of essential services, funeral services, and loss of income. It is similar to medical payments coverage, or MedPay for short. The difference is that MedPay will only cover for reasonable medical expenses.

  • Non-Owner Liability Coverage: This policy helps you out if you use a boat that you don't own. It is also used by businesses who want to provide coverage for their employees when they use their boats for work. In some cases this endorsement will also cover a rental boat.

  • Transport Trailer Coverage: This covers non-motorized trailers used to tow your boat. If the trailer is damaged or causes damage, this policy will cover the costs and tow your boat.

What benefits does GEICO offer?

GEICO offers the following benefits to its customers:

  • 24/7 Phone Availability: Customer service is staffed around the clock.

  • Digital Claims Reporting: Never fax or mail a document again.

What discounts can you ask for when applying for a policy with GEICO?

When you ask for a quote with GEICO, make sure you ask for all the discounts you qualify for. These are the discounts you can claim that are specific to boat insurance.

  • Internal Safety Features: GEICO offers additional savings if your boat has additional safety features, such as EPIRBs (Emergency Position Indicating Radiobeacon), GPS systems, Depth Finders, or Radar, on board. Ask what other safety features on your boat will trigger a discount.

Want more discounts? Check the discounts tab for a full list of general policy discounts you can qualify for with GEICO.

What is the financial strength rating of GEICO?

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.

GEICO scores an A+, SuperMoney's highest available rating.

SUPERMONEY Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...

Availability

Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Policy Discounts
  • Claims Free
  • Defensive Driver / Safety Course
  • Multiple Policy
  • Multiple Vehicles
Vehicle and Equipment Discounts
  • Anti-Lock Brake System
  • Anti-Theft Devices
  • Daytime Running Lights
  • Internal Safety Features (Air Bags / Seat Belts)
Liability Vehicle Insurance
  • Bodily Injury Coverage
  • Property Damage Coverage
  • Uninsured Motorist
  • Underinsured Motorist
Boaters Insurance
  • Fuel Spill Clean-Up
  • Wreckage Removal
Medical Vehicle Insurance
  • Medical Payments Coverage
  • Personal Injury Protection
Vehicle Coverages
  • Comprehensive
  • Collision
Vehicle Policy Endorsements
  • Non-Owner Liability Coverage
  • Transport Trailer Coverage
Boaters Policy Endorsements
  • Fishing Equipment & Carry-On Items
  • Hurricane Coverage
  • Ice / Freeze Coverage
  • Total Loss Replacement
Financial Strength Rating
  • A+
Carrier Features
  • 24/7 Phone Availability
  • Free Policy Cancellation
  • Digital Claims Reporting
Emergency Roadside Assistance
On-Water Towing and Labor
Available 24/7 by Phone
Fuel Spill Liability

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