Geico is not getting out of marine insurance.
Geico still offers and sells marine and boat insurance.
GEICO Marine Insurance Company can help you protect your investment.
Accidents happen, but with boat insurance, you can rest assured you're covered on and off the water.
Geico also shares your passion for watersports and have teamed up with BoatUS.
Other insurance companies also offer and sell boat and marine insurance.
Best Overall: Geico Marine.
Best for Fishing Enthusiasts: Markel.
Best for Yacht Owners: Chubb.
Best for Jet Ski and Personal Watercraft Owners: SkiSafe.
Best for Houseboats: American Family.
Best for Discounts: Progressive.
Marine insurance covers the physical loss or damage of boats, ships, cargo, terminals, and any transport by which the property is transferred, acquired, or held between the points of origin and the final destination.
Different types of marine insurance include.
Freight Insurance. Freight insurance protects a merchant ship's owning corporation, because they are prone to losing money in freight.
Freight Demurrage and Defense Insurance.
Hull Insurance.
Liability Insurance.
Marine Cargo Insurance.
Machinery Insurance.
P&I Insurance.
The average cost of marine and boat insurance ranges from about $200.00 to $500.00 per year.
However, this figure is a rough estimate based on the most common types of boats.
In reality, boat premiums can range anywhere from less than $100.00 per year to thousands of dollars annually.