GEICO Marine Insurance Company was established in 1989 as the Seaworthy Insurance Company. Today, it remains a subsidiary of Berkshire Hathaway. The company delivers insurance coverage to boat, yacht and charter vessel owners. Five distinct policy options are available to meet the needs of every boat owner. GEICO offers practical coverage options to both recreational and commercial boaters.
GEICO Marine Insurance Company is popularly recognized for its attentive and reliable customer service.
Annual cost of coverage
|Varies by policy, boat specifications and add-on coverage|
Ease of enrollment
Ways you can enroll
|Online or by phone|
Ease of access
|Customer service agents are available 24/7 by phone, e-mail or chat|
How can premiums be reduced?
|Good driving record, online boat safety courses, bundled policies|
How are payments completed?
|You can pay by phone or online with your GEICO Marine Account|
What types of coverage can be added to my policy?
|Personal property, towing services, hurricane haul, and more|
What types of boats are eligible for coverage?
|Bow riders, pontoons, sailboats, bass boats, and more|
What services are covered?
|Various coverage options are available; see website for details|
How soon can services be used?
|Dependent on policy effective date|
GEICO Marine Insurance Company features a user-friendly website with informative resources. Customers can use it to learn more about GEICO coverage and policy management options.GEICO also provides an insurance glossary to help customers understand commonly used terminology. This provision simplifies concepts that may typically seem elusive.
The web page format enables users with minimal technological expertise to quickly and easily find essential information. The bold and colorful text featured throughout the GEICO website allows seniors to effortlessly read and navigate the content.
Users interested in obtaining coverage or evaluating coverage costs are able to request an insurance quote online. Customers who prefer to speak directly with an agent on the phone can do so.General customer support is available 24/7 via phone, e-mail, and online chat. A variety of communication modes ensures that individuals with limited mobility can acquire insurance coverage and access support.
GEICO Marine Insurance Company does not provide policies catered specifically to seniors, nor does it reserve any discount opportunities for senior citizens. Discounted rates can be earned with a good driving record, the bundling of multiple GEICO insurance policies, or enrollment in boat safety courses. These options may not be necessarily beneficial to seniors—particularly those whose driving abilities are limited and who do not feel comfortable (or are incapable of) participating in online courses.
Challenging health conditions will likely significantly reduce the value of boat insurance. Seniors with debilitating physical conditions may find it difficult or impossible to responsibly operate their boats. However, for those individuals who do continue to boat and wish to be proactive, retaining coverage may be wise. Seniors in exceptional health will probably find that the value of this type of coverage remains constant.
GEICO Marine Insurance Company provides several boat, yacht, and charter vessel insurance policies with extensive coverage options. The company boasts a superior A+ rating from A.M. Best Co., an insurance industry rating agency.
Consumer reviews typically highlight GEICO’scustomer support staff, noting the speed at which concerns are resolved and claims are successfully processed. GEICO is commonly viewed as a trustworthy and reliable agency, although some customers have reported dissatisfaction with claims processing and communication with support representatives.
Policy rates are competitive with those of other leading boat insurers. Customers generally express satisfaction with their premiums and the coverage they receive in return.
Frequently Asked Questions:
How much will boat insurance coverage cost?
The price of your policy depends on the market value, size and speed of the boat you want to insure and on your insurance preferences. You can call and speak with an agent to discuss your options, or you can go online to receive a personalized quote.
How can I decrease my premium rates?
If you have a good driving record, you may be eligible to receive a discount on your premium. You can enroll in online boat safety courses to earn a reduction in your premium costs. By purchasing multiple GEICO insurance policies, you can also bundle your policies and save money on your rates.
What type of coverage am I guaranteed?
All GEICO Marine Insurance Company policies include liability coverage for incidents such as oil and fuel spills and damage to other individuals and boats, as well as coverage for salvage and wreck removal services. Actual Cash Value coverage is reserved for less expensive pleasure boats and peer-to-peer rental boats. All other boats and yachts include Agreed Value Coverage.
Overview: GEICO Marine Insurance Company’s policies provide liability coverage for damage to other individuals’ boats and property, as well as for bodily injury to or death of another person. Additionally, policies cover the cost of boat damage, fuel and oil spills, salvage and wreck removal services, and medical costs resulting from injury. The price of each particular policy is determined by several factors such as the boat’s size, speed, and functional use.
This package is intended for individuals who operate their boats for commercial purposes.
This policy is suitable for individuals who are seeking minimal costs and who are content with limited coverage.
This policy is intended for individuals who regularly rent their boats out to other people.
The Pleasure Boat policy is an affordable option for individuals who use their boats primarily for recreational purposes.
This package provides coverage for yachts featuring a full-time captain and crew.
The Yacht package is appropriate for individuals who own a yacht worth up to $2.5 million
Optional Accessories or Add-on Services: Personal property, trailer coverage, towing assistance, fishing equipment, and marine environmental damage coverage are available.
Contract Details: Policy contracts are implemented on an annual basis. You can contact an agent to cancel your contract at any time.
Accreditations: GEICO Marine Insurance Company is not accredited by the Better Business Bureau, but maintains an A- rating. In 2009, A.M. Best Co. awarded the company an A+ (Superior) rating.
Company Details: GEICO Marine Insurance Company originated as the Seaworthy Insurance Company, which was founded in Annapolis, Maryland in 1989. Berkshire Hathaway acquired the company in 2007, and in 2015, it became a subsidiary of GEICO. With this transition, the company was renamed as GEICO Marine Insurance Company. GEICO Marine Insurance Company is one of several insurance companies associated with the GEICO Insurance Agency.
GEICO Marine Insurance Company
880 South Pickett Street
Alexandria, VA 22304