Marine insurance covers you in the event of loss or damage to your boat, and can also protect you if you injure someone with your boat, or damage their property.

When shopping for insurance, it is important to remember that all boat insurance companies have different policy terms and conditions. You may find them to be similar; it is the slight variation that can make the difference between good coverage or excellent coverage. The simple wording “all loss resulting from” can make a significant difference in your coverage.



At Marine Coast Financial, we understand that boat owners deserve the attention of a marine insurance professional. That’s why we have a dedicated team of marine specialists ready to provide you with the most competitive, comprehensive and affordable insurance quote to help you protect your investment.

Give us a call at 408-558-9433 or visit our website for a quick quote.MCF-logo

We will help you save money and provide you with the best insurance coverage in the industry.


Many factors affect the cost of Boater’s Insurance:

  • The location of the boat has a significant impact on the cost.
  • The type of boat affects the premium. Performance boats will have the highest rates due to the speed and machinery on these boats.
  • Boat’s Value
  • Boat’s Length
  • Use Of The Boat
  • Age Of The Boat
  • Type of Engine
  • Boat Ownership Experience
  • Boating Education and Safety Equipment
  • Age Of The Operators


A typical policy can provide physical damage coverage on an Actual Cash Value (ACV) or an Agreed Amount Value basis. Both offer important coverage for your boat, but here is the significant difference:

Actual Cash Value

This policy will pay the Replacement Cost less depreciation, at the time of the loss. In the event of a total loss, used boat pricing guides and other resources are used to determine the approximate market value of your vessel. A partial loss is settled by taking the total cost of the repair less a percentage for depreciation.

Agreed Amount Value

With this policy, you and the insurance company have agreed on the value of your vessel, and in the event of a total loss, you are paid that amount. Agreed Amount Value policies also replace old items for new in the case of a partial loss without any deduction for depreciation. This “without any deduction for depreciation” is per each company’s policy terms and conditions. Most do have some items that are subject to depreciation.

Physical Damage

This coverage is usually subject to a deductible. The boat and motor usually have the same deductible with additional deductibles for the trailer and personal effects. The deductible is the amount you will pay in case of a loss. The higher the deductible, the lower your insurance premium. Boat policy deductibles are usually calculated as a percentage of the vessel value (1%, 2%, 3% of the value) or it can be flat amounts of $250 or $500.

Total Replacement Cost (TRC)MRAAlogo

Together, California Skier and Marine Coast Financial can offer you a policy through their Aqua Pac MRAA Rewards Program, under which, your coverage will provide you with up to 120% of your original new purchase price, for four models years subsequent to purchase. Plus, your repair deductible will be reduced by 50%, for using a MRAA Member Facility. For all details of this superior policy, please speak with a rep at MCF (408) 558-9433

Many policies provide protection for personal effects. These are items not intended for the normal operation of your boat, such as fishing equipment, wake and surf boards, mobile devices, and any other non-attached personal items.

Boat Liability – (Protection & Indemnity)

The Liability section of the policy provides protection if you are legally responsible for damages to property or injury to someone other than yourself or a family member. Liability provides protection if you are sued as a result of hitting another boat, or if someone is hurt onboard your vessel because of your negligence. This coverage is usually offered in increments of $100,000 up to $1 million.

Medical Payments

The Medical Payments section of the policy provides protection for reasonable medical, ambulance and hospital costs should someone be injured while in, upon, boarding or leaving your boat.

Uninsured Boat Owners Coverage

The Uninsured Boat Owners section of the policy provides coverage for injuries caused by an accident that you are entitled to recover from the owner or operator of an uninsured boat or “hit-and-run” boat.


Commercial Towing and Assistance enables you to be reimbursed for the reasonable costs incurred when you break down at sea and need a commercial tow to port.