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Lake Murray, South Carolina

Boats & Watercraft Insurance

Helping protect you and your flagship

Being in South Carolina, our lives revolve around the water. Boats, yachts, and jetskis are pretty commonplace for most of us. So is protecting them and you.

You might think your boat is covered by your homeowners policy, but you’d be wrong. An average homeowners policy offers little or no coverage for watercraft. If yours is really that important to you, you need a boat owners policy from Statewide Insurance Group.

It can be confusing, but a lot of people often ask what’s the difference between a boat and a yacht? To an insurance company, anything under 26 feet is a boat. Anything over, is a yacht. But don’t worry, coverage for both is quite similar. And an independent Statewide Insurance Group agent can help create a boat owners policy worthy of your flagship.

  • Hull and Equipment Coverage. Any good boat owners policy starts with this essential coverage which pays to repair your craft if it’s accidentally damaged or destroyed by a covered peril such as wind, fire, lightening, collision with other boats or underwater objects, theft, vandalism, explosion, sinking and capsizing.
  • Liability Protection and Indemnity Coverage. This coverage protects you legally and financially in the event you are sued as a result of hitting another vessel or if someone is hurt on board your craft because of your negligence.
  • Medical Payments Coverage. This goodwill coverage pays for less serious injuries that occur aboard your boat, regardless of fault. If you have a lot of passengers, the more of this coverage you have, the better.
  • Uninsured Boaters Coverage. You need this for your protection! If you are hurt by a boater who is uninsured, your own insurance will pay for bodily injury damages you are legally entitled to recover.
  • Towing and Labor Costs. This coverage provides for a damaged or marooned craft in need of a tow or a push.
  • Specialized Equipment. Protect your fishing equipment, gear, electronics and boat accessories with this coverage.
  • Replacement Cost Versus Actual Cash Value. Replacement cost pays the cost to restore or replace damaged property without the deduction for depreciation. Actual Cash Value is replacement cost at the time of loss, less depreciation.

"I wanted to thank you and acknowledge your outstanding assistance with our insurance needs during this past year. Even though this is a second home for us on Fripp Island, complicated by distance and a variety of insurance needs, you simplified the process and solicited a number of competitive bids for us to choose from. Finally, your quick response and follow up to any issues that have arisen is much appreciated! "

Bill & Andrea Pierce

Fripp Island, SC

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