American Mutual provides insurance for many kinds of pleasure boats – sail and power, inboard or inboard/outdrive. As a general rule, we insure powerboats up to 39 feet and sailboats up to 49 feet. We also have a special policy for outboard boats under 18 feet with an outboard engine less than 90 hp and total value under $15,000.
Some insurance companies tempt you to do without Machinery Coverage by offering it as an extra-cost option. With American Mutual, you’re covered both for hull and machinery damage if you strike an object in the water – with no depreciation on repair of machinery – and at no additional cost. Small boats or tenders used to service your boat are now automatically covered, subject to certain length, value and hp limitations.
Your Unattached Equipment is automatically insured up to 10% of hull value (or $100, whichever is greater). If you need a higher limit you can choose an Additional Unattached Equipment endorsement with a separate deductible. Your personal effects are covered up to $250 if your boat collides with or is upset by another boat. Your boat is still fully covered when it’s hauled out. Broad Form Liability Coverage protects your financial and property assets if the operation of your boat causes injury or property damage to others.
Whether you cruise the Atlantic or Pacific coasts, or inland waters anywhere between, American Mutual protection sails with you – up to 75 miles from the U.S. coastline; into Canadian coastal or inland waters; and into the Pacific coastal waters of Mexico. Even when you haul your boat out of the water, it’s still protected.
Some insurers limit Towing Coverage to as little as $50. Your American Mutual boat policy provides, through the Emergency Assistance Package, up to $500 in towing costs. Medical Payments insurance, including coverage for water skiers, protects friends and family you welcome aboard. Coverage for your Boat Trailer can be included, with a separate deductible.
