So you finally bought that boat you’ve always wanted. A cool little runabout to zip around the lake on the weekends, a cabin cruiser for overnight trips, or maybe you splurged on a yacht to really make a statement.
Enter USAA boat insurance. USAA knows a thing or two about insuring expensive assets. For over 100 years they’ve been providing insurance to military members and their families.
And they bring that same level of expertise and customer service to boat insurance. With flexible coverage options, discounts for bundling multiple policies, and highly rated customer service, USAA boat insurance gives you the comprehensive protection you need so you can get out on the water without worry.
USAA Boat Insurance Coverage Options
USAA offers comprehensive boat insurance coverage to meet your needs. They provide options for liability, collision, comprehensive, and medical coverage.
1. Liability Coverage
Liability coverage protects you in the event your boat causes damage to another boat or personal injury to someone else. It covers the costs of legal defense and any damages awarded, up to the limit you choose. USAA's liability coverage starts at $50,000 and goes up to $500,000 or more.
2. Collision Coverage
Collision coverage pays to repair or replace your boat if it's damaged in an accident. It covers collisions with other vessels as well as collisions with fixed objects like docks or buoys. USAA offers flexible deductibles for collision coverage from $250 up to $5,000 or more to suit your budget.
3. Comprehensive Coverage
Comprehensive coverage protects your boat from non-collision losses like theft, vandalism, fire, flooding, sinking, capsizing, stranding, or hitting a submerged object. It provides coverage for the boat itself as well as equipment like motors, trailers, and electronics. Comprehensive coverage deductibles start at $250.
4. Medical Coverage
USAA medical coverage pays for medical expenses for you and your passengers if there's an accident while boating. It covers costs like ambulance fees, emergency room visits, surgery, rehabilitation, and medication. Medical coverage limits start at $1,000 per person and go up to $10,000 or more.
How to File a USAA Boat Insurance Claim
Follow these steps to get your boat back out on the water as quickly as possible.
1. Notify USAA
Call or log in to your USAA account to notify them of your claim right away. Provide details about what happened, the extent of damage or loss, and your policy information. USAA may send an adjuster to inspect the boat. Cooperate fully with the adjuster to ensure an accurate assessment.
Be available to meet the adjuster or provide additional photos if needed.
Have service records, receipts, and other ownership documentation on hand.
Be polite yet confident in communicating the details of your claim.
2. Get Repair or Replacement Estimates
For repairable damage, get written repair estimates from licensed marine repair facilities. Submit the estimates to USAA for review and approval. For a total loss, provide estimates for a comparable replacement boat.
3. Settle the Claim
Once a claim settlement is reached, USAA will issue payment for repairs or the agreed value of your boat. You can then schedule repairs or go boat shopping. USAA aims to settle claims quickly and fairly. However, the process can take weeks or months for complex claims.
Tips for Getting the Best USAA Boat Insurance Rates
Getting the best rates on USAA boat insurance comes down to a few key tips. Follow these to save money on your policy:
1. Bundle your policies
USAA offers discounts when you bundle multiple insurance policies together, like your boat, home, and auto insurance.
2. Choose a higher deductible
Opt for a higher deductible, like $1,000 or $2,500 instead of $500. The higher your deductible, the lower your premiums will be. Just make sure you can afford to pay the deductible if you need to file a claim.
3. Improve your credit score
In most states, insurance companies can consider your credit score when determining your premiums. The better your score, the lower your rates. Check your credit report for any errors and pay down high-balance credit cards to improve your score.
4. Take a safety course
Some insurance companies offer discounts for taking an approved boating safety course. At USAA, you can get up to 10% off your premiums for 3 years after completing a course.
5. Consider usage-based insurance
If you don’t use your boat often, ask about USAA’s usage-based insurance program. They may lower your rates if you can prove limited annual usage.
