Markel boat insurance
Markel boat insurance covers boats up to 26 feet long, with advertised prices starting at $100 a year.
- Market guide, by state group
- $307 to $663Progressive's 2024 to 2025 averages for low-cost and high-cost states, not a Markel price
- Policy issued by
- Markel AmericanHow to buy: online, by phone or an agent
- Payout after a loss
- Agreed value; actual cash value available on yachts
- On-water towing
- Emergency towing offered
- Financial strength (A.M. Best)
- A (Excellent)
From Markel's own boat insurance pages (markel.com).
Your boat's yearly range across insurers, in three taps
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What kind of boat?
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What you paid, or what boats like it sell for. A rough figure is fine.
Type the value in dollars, between $500 and $5,000,000.
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An estimate, not a quote. How we work it out
The line reaches Boat Insurance Compare. Have the boat, its value and your state ready.
Rather have it in writing? Send a quote request with the answers you just gave.
You can sign up on the website, call and talk with a boat insurance specialist, or work through an agent.
Which boats Markel covers
Markel splits its marine coverage into two groups based on how long the boat is. Watercraft up to 26 feet fall under the boat program, which covers everything from antiques and powerboats to ski, sailing, fishing, and pontoon craft. More unusual craft are welcome too, like high performance boats, airboats, and hovercraft.
Anything longer than 26 feet, houseboats included, belongs to the yacht program. Markel says yacht policies come with experienced yacht underwriters and marine claims specialists. An underwriter is simply the person who decides if a boat can be insured and under what conditions.
How A total loss gets paid
A total loss means your boat has been destroyed or damaged beyond repair. With agreed value settlement, you and Markel settle on the payout amount up front, before anything happens.
For a boat that's no more than three years old, replacement cost coverage buys you a brand-new one matching the make, class, size, and type you had. If you own a yacht, you can choose actual cash value instead to keep costs down. Actual cash value means the boat's market worth right before the damage happened.
Add-Ons and extra protection
- Ultimate Drive: fixes or swaps out an outboard or sterndrive motor when wear and tear or a defect causes a mechanical breakdown.
- Trailer coverage: you can insure a trailer for as much as $7,500.
- Tournament fee reimbursement: comes standard with bass and walleye boats.
- Also named: emergency towing, pollution liability, and wreck removal.
Yacht owners can also buy liability-only coverage, known as protection and indemnity, without needing a survey. A survey just means a professional inspection of the boat.
How to pay less
Markel says its discounts can trim as much as 35% off the price. Here are the ones it names:
- Experienced boater, for those with at least five years behind the helm
- Multiple units, which means insuring more than one boat or item
- Having an outboard motor
- Being an older operator, meaning 40 or above
Markel also offers a diminishing deductible. The deductible is the part of a claim you pay yourself before insurance covers the rest. For every year without an accident, it drops by 25%, and after four years it reaches zero.
What boats like yours cost to insure, across insurers
| Boat worth about | Pontoon, bass or ski boat | Sailboat | Jet ski |
|---|---|---|---|
| $10,000 to $25,000 | $300 to $800 | $500 to $880 | $180 to $500 |
| $25,000 to $50,000 | $380 to $800 | $500 to $1,500 | Few are worth this much |
| $50,000 to $100,000 | $750 to $1,130 | $750 to $1,500 | Few are worth this much |
A market guide for a middle-cost state, not a Markel price. Every boat, value and state
The same boat in low, middle and high-cost states
| Progressive cost tier | Tier average a year | A $25,000 pontoon a year | States such as |
|---|---|---|---|
| Low-cost, 17 states | $307 | $250 to $590 | Michigan, Minnesota, Wisconsin |
| Middle-cost, 17 states | $413 | $300 to $800 | Georgia, Ohio, Tennessee |
| High-cost, 16 states | $663 | $480 to $1,250 | Florida, Texas, California |
Tier averages from Progressive. Your state's tier and rules
Common questions
Can Markel be trusted as an insurer?
As of 09/15/2026, Markel's financial strength page shows Markel American Insurance Company holding an A+ from S&P, an A from A.M. Best, and an A2 from Moody's. A.M. Best calls an A rating Excellent.
How do I file a claim with Markel?
You can report a claim online or by calling Markel.
Where do I handle logins, payments, or read reviews?
The Markel pages we relied on don't explain logins, payments, or customer reviews, so we can't speak to those.
Which boat insurer is the best?
There's no single answer, since it comes down to your boat and what you need. A good approach is to get quotes from a few insurers, Markel included, and compare what each one covers and what it costs.
Compare Markel with
| Insurer | Policy issued by | How to buy | Payout after a loss | Towing on the water | Boats it names |
|---|---|---|---|---|---|
| Markel | Markel American | Online, by phone or an agent | Agreed value; actual cash value available on yachts | Emergency towing offered | Boats to 26 ft; yacht policy for over 26 ft, houseboats |
 Hagerty | Essentia or Markel American | Hagerty, which runs the policy | Pays full agreed value after a total loss | Emergency protection cover; ask about towing | Classic and collectible boats, newer boats to 26 ft, yachts |
 Foremost | Foremost | Local agents | Total loss replacement cost with Plus or Elite | Towing and assistance with Elite | Bass, fishing, sail, classic, cruiser and pontoon boats |
 Progressive | Progressive | Online or by phone | Partial losses paid at full replacement cost with comprehensive and collision | Sign & Glide on-water towing, optional | Up to 50 ft and $500,000; excludes houseboats, steel or wood hulls |
Ready for real numbers?
Tell us the boat, what it is worth and where you keep it.
This line reaches Boat Insurance Compare, not Markel.