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Safeco Watercraft Overview

By July 27, 2020April 9th, 2021Personal Insurance

This overview provides information to better help you understand Safeco’s Watercraft Program including: watercrafts encompassed in the program, program advantages, and program eligibility.

Watercrafts covered under the Safeco Watercraft Program mostly includes watercraft that are used for recreational and casual boaters such as sailboats, pontoons, and jet skis (see full list below).

Eligible Watercraft:

  • Watercraft up to $300,000 in value and 40 feet in length, varying by state and coastal exposure
  • Maximum speed of 65 mph, 85 mph for bass boats
  • Seaworthy condition
  • Liability coverage only is available
  • No age limit (except wood hull construction – must be under 10 years old)
  • Marine survey rules apply
  • For jet skis, wave runners, other personal watercraft, and inboard waterjet boats under 17 feet, the number of personal watercraft in a household should not exceed twice the number of operators

Ineligible Watercraft:

  • Houseboats
  • Watercraft used as a residence, other than occasional or seasonal weekend use
  • Homemade or kit boats
  • Watercraft used for any charter, commercial or business purpose, or owned by or in the name of a corporation (watercraft owned by an LLC and used exclusively for non-business/pleasure use may be eligible, subject to underwriting review)
  • Watercraft rented or leased to others or currently held for sale
  • Watercraft with more than two owners
  • Watercraft equipped with more than two motors (other than trolling)
  • Watercraft with non-marine converted engines or with after-market products that increase the boat’s base line horsepower or speed
  • Watercraft that exceed manufacturer maximum recommended horsepower
  • Exposed inboard or inboard/outboard engines
  • Performance catamaran/ tunnel hull
  • Watercraft designed or used for racing or speed tests (except sailboats); includes: “cigarette” and/or high performance boats (long, narrow hull boats with long, closed bow)
  • Aqua cycles or similar craft Hydroplanes or similar craft
  • Airboats or similar craft
  • Ice boats or similar craft
  • Amphibious watercraft which are designed to be used on land as well as water; may include amphibious bicycles, ATVs, cars, trucks, hovercraft, or similar watercraft
  • Landing craft or similar craft equipped with a dropdown ramp/door in the bow
  • Cement hull watercraft
  • Physical damage only policies are not eligible unless the homeowner’s policy is with us and the liability is covered under the homeowners policy
  • Engine/motor only coverage is not eligible
  • Physical damage is not allowed on salvage watercraft

Program Advantages:

  • Coverage for pets,* personal property, and equipment such as water skis and marine electronics
  • All watercraft are accepted, even without supporting Auto or Home business policies
  • Agreed-value policy
  • Watercraft up to $300,000 and 40 feet
  • Total price protection available for boats 2 years old and newer
  • Roadside Assistance is available
  • Emergency Assistance (on-water towing)
  • Towing and labor expenses
  • Fuel spill and wreckage removal
  • Optional fishing equipment coverage up to $20,000*
  • Quote Watercraft policies in minutes with our intuitive Q&I tool, which includes a drop-down menu to select from a comprehensive list of makes and models
  • Additional Interest/Marina Additional Insured
  • Watercraft policies are offered stand-alone and named insured information can be automatically prefilled using a cross line-of-business quote or from an existing account
  • We offer marketing resources to assist your agency’s presence at a trade show or event that caters to watercraft enthusiasts

* Coverages and features not available in all states; see the State Product Guide(s) for details.

Watercraft Discounts / Who Qualifies:

  • Account: customers who have an auto, home, condo, renters or motorcycle policy with Safeco
  • Safety Course: customers who have completed a coast guard auxiliary course or state boating safety course
  • Diesel Power: Customers who have watercraft powered by diesel engines qualify for a 10% credit on their watercraft policy. Outboard boats and personal watercraft are not eligible
  • Homeowners: customers who are homeowners qualify for a watercraft discount up to 10%
  • Billing Plan: customers who pay their policy term premium in full at inception or renewal
  • Boating Experience: customers with five or more years of boating experience
  • Boat Ownership: customers who have owned any watercraft for two or more years qualify for a discount up to 5%
  • Multi-Watercraft: customers with 2 or more listed watercraft
  • Advance Quote: customers who obtain a quote from Safeco one or more days ahead of the effective date of their newly issued policy may qualify


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