Does boat insurance cover theft?

How common is boat theft?

In 2022, 4,461 boats or watercraft were stolen across the U.S., according to the National Insurance Crime Bureau's annual watercraft theft report. Florida was the site of the most thefts with 891. Here are the top ten states in boat thefts according to the report:

1. Florida
2. California
3. Texas
4. Washington
5. North Carolina
6. South Carolina
7. Georgia
8. Michigan
9. Ohio
10. Tennessee

How does insurance cover a stolen boat?

If your boat is stolen from a storage facility, private dock, marina, on the water, or your home, boat comprehensive coverage can cover the fair market value of your watercraft, minus your policy's deductible. Boat insurance policies with comprehensive coverage may also cover boats stolen while being moved on a trailer. Your boat trailer may be covered against theft, as well, depending on your insurer and policy.

Note that boat liability coverage won't cover a stolen boat. Learn more about how boat insurance works and what boat insurance covers.

How to prevent boat theft

Store your boat in a secure area

If possible, keep your boat locked indoors in a garage or storage facility. If you need to store your boat in your yard or driveway, use a strong lock and chain to connect it to something stationary and secure, like a strong post or tree.

Install a boat alarm

A boat alarm is one of the most effective boat anti-theft devices. Set up a motion sensor alarm to go off if someone gets too close to your boat. Another option is to set up a motion-activated spotlight.

Use a hitch lock and wheel locks

Invest in a standard hitch lock (also called a tongue lock or a coupler) or a removable hitch lock. These make it more difficult for someone to steal a boat on a trailer because it prevents them from hitching it to their vehicle. Wheel locks attach to your trailer's tires to prevent them from rolling.

Never leave keys in the boat

This may sound obvious, but don't forget to take the keys out of the boat and keep them somewhere secure.

Lock everything together

For extra security, chain and lock each element of your boat together — the engine to the boat, the boat to the trailer, and the trailer to a stationary object like a tree.

What to do if your boat is stolen

• Contact the police. File an official police report and provide any documentation that may assist the police in finding your boat.
• Check if anyone witnessed the theft. Ask neighbors or people who store their boat in the same marina whether they saw anything suspicious.
• File an insurance claim. If you qualify for coverage through your boat insurance, file a boat insurance claim.

Protect against boat theft with insurance from Progressive