Boat Towing Insurance: Cost & Quotes From $60/mo

Table of contents

The vessels of fishermen can experience issues. Boat towing businesses are on the go to provide rescue. If you operate a boat towing business, accidents can happen when you are on the water. The boat can break down, or your employees can be injured. It would be best to have boat towing insurance to offer you peace of mind in case of unexpected accidents. Also, it’s easier to earn money if you’re insured since clients will only work with a towing boat with a cover. 

General Liability Insurance for Boat Towing

CoverWallet  NEXT (Best) Thimble Hiscox The Hartford
Per occurrence limit  $1,000,000 $1,000,000 $1,000,000/$2,000,000 $2,000,000 $1,000,000/$2,000,000
Aggregate limit  $2,000,000 $2,000,000 $1,000,000/$2,000,000 $2,000,000 $1,000,000/$2,000,000
Products and completed operations aggregate limit  $2,000,000 $1,000,000 $2,000,000 $1,000,000 $1,000,000
Advertising injury coverage aggregate limit  $1,000,000 $1,000,000 $2,000,000 $1,000,000 $1,000,000
Tenant’s legal liability coverage limit  $300,000/$1,000,000 $300,000 $100,000 $100,000 $1,000,000
Waiver of subrogation included? Yes No Included Can be included No
Hired/non-owned auto liability coverage included? Yes No No Can be included Can be included
Equipment breakdown floater included? No  Yes Yes Can be included Can be included
Can you get a certificate of insurance online? Yes Yes Yes Yes Yes
Name additional insureds? Yes Yes Yes Yes Yes
Deductible $0 $0 $0 $0 $0


General liability insurance is a fundamental policy for boat towing businesses. This policy covers common risks that may occur while doing business. It typically covers:

  •  Property damage

  • Bodily injury

  •  Advertising injury

Coverage Limits of General Liability Insurance for Boat Towing

The coverage limit can be from $1,000,000-$2,000,000. But some insurers will offer even higher limits depending on the needs of your business.


Add-Ons to General Liability Insurance for Boat Towing

  • Cyber liability coverage–Protects your business from data breaches, phishing, and other internet-related risks

  • Additional insured coverage–Extends your liability coverage to cover individuals or organizations that are not listed on the policy

Is General Liability Insurance Compulsory?

No, it is not compulsory, but it is a necessity for your towing business. Remember that risks can occur anytime, and you must protect your business.


Professional Liability Insurance for Boat Towing

CoverWallet  NEXT Thimble (Best) Hiscox The Hartford
Per occurrence limit  $1,000,000 $1,000,000 $1,000,000/$2,000,000 $1,000,000 $1,000,000
Aggregate limit  $2,000,000 $2,000,000 $1,000,000/$2,000,000 $1,000,000 $2,000,000
Name additional insureds? Yes Yes Yes Yes Yes
Waiver of subrogation included? Yes No Yes Can be included No
Deductible  $500 $500 $500 $50/$10,000 $500


You may make errors or omissions or be negligent during your boat towing business. If your mistakes cause damage to your customers, they may sue you. Professional liability insurance will protect you in such circumstances. The insurance will cover the following:

  • Legal fees

  • Court costs

  • Settlements

  • Judgment costs

Coverage Limits of Professional Liability Insurance

The coverage limit for professional liability insurance is $500,000-$5,000,000. These figures can be higher or lower depending on the covered risks.


Add-Ons to Professional Liability Insurance for Boat Towing

  • Media liability coverage–This policy protects you against claims of libel, slander, and intellectual property rights infringement

Do You Need Professional Liability Insurance for Your Boat Towing Business?

Yes, you need this type of insurance. This boat US towing insurance will cushion your business from expensive lawsuits and settlements if you make errors or omissions.


Public Liability Insurance for Boat Towing

In your boat towing industry, you may damage a third party’s property or cause bodily injury to them. Public lability insurance will cover these damages. This insurance covers the following:

  • Legal defense costs

  • Judgment costs

  • Settlement costs

  • Property repair and replacement costs

  • Medical costs

Coverage Limits of Public Liability Insurance for Boat Towing

Companies will offer a coverage limit of $500,000-$1,000,000 in your public liability insurance for towing a boat.


Add-Ons to Public Liability Insurance for Boat Towing

  • Watercraft liability–Covers bodily injury or property damage inflicted by the towable watercraft or the vessel you’re using

  • Personal injury liability–Includes coverage for slander, libel, invasion of privacy, and other personal injuries caused by your boat towing business

Does Public Liability Insurance Have Exclusions?

Yes, most insurance companies will impose some exceptions. They may include intentional acts or criminal acts.

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Commercial Property Insurance for Boat Towing

CoverWallet NEXT (Best) Thimble Hiscox The Hartford
Building coverage limit (minimum) $50,000 $260,000 $25,000/$500,000 $25,000 $60,000
Contents coverage limit (minimum) $50,000 $22,000 $25,000/$500,000 $25,000 $60,000
Outdoor signs Excluded $2,500 Excluded Excluded Excluded
Accounts receivable  Excluded Excluded $5,000/10,000 Included Excluded
Money and securities Excluded $2,500 $1,000 Included Excluded
Lock and keys  Excluded $2,500 Excluded Excluded Excluded
Business interruption floater Excluded Included Included Included Excluded
Equipment breakdown floater Excluded Included Excluded Excluded Excluded
Inland marine insurance floater Excluded Excluded $10,000 Excluded Excluded
Employee dishonesty floater Excluded $5,000 $2,500 Included Excluded


Commercial property insurance covers all your physical assets. It will cover inventory, equipment, buildings, and fences. The risks include:

  • Natural disasters

  • Vandalism

  • Theft

  • Fire

Coverage Limits of Commercial Property Insurance for Boat Towing

Your insurer will first gauge the exact value of your property before stating the coverage limit for this commercial boat towing insurance. But generally, it will range from $100,000 to $1,000,000. 


Add Ons to Commercial Property Insurance for Boat Towing

  •  Floods insurance–Flood insurance protects your boat from flood-related damage

  • Earthquake insurance–Your watercraft is covered by earthquake insurance if it sustains damage as a result of an earthquake

Does Commercial Property Insurance Cover Damage to Equipment and Machinery?

Yes, commercial property insurance can cover damage to equipment and machinery owned by the business.


Is Commercial Property Insurance Compulsory?

No, this type of insurance is not compulsory for your boat towing business. But it is recommended to protect your business from financial losses.


Business Owner’s Policy for Boat Towing

CoverWallet Thimble (Best) NEXT  Hiscox The Hartford
General liability aggregate limit  $2,000,000 $2,000,000 $2,000,000 $300,000 $1,000,000/$2,000,000
Commercial property coverage limit  $50,000 $500,000 $260,000 $25,000 $75,000
Optional policies can be added? Yes Yes Yes Yes Yes
Name additional insureds for free? Yes Yes Yes Yes Yes
BOP discount? Yes Yes Yes Yes Yes


Business owner’s policy (BOP) is a policy that is a combination of two policies. It includes business property insurance and general liability insurance as a single entity. This sea tow boat insurance will provide coverage for the following:

  • Property damage

  • Bodily injury

  • Equipment failure

  •  Assets damage or theft

Coverage Limits of Business Owner’s Policy for Boat Towing

Insurers will offer a limit of $1,000,000 or more. Ensure the limit stated by your insurance company is enough to cover your losses.


Who is Eligible to Take a BOP?

Small businesses with physical locations and repeatable low risk of liability claims are eligible. But you can find out from your insurance company.


Tools and Equipment Insurance for Boat Towing

NEXT  Thimble Hiscox The Hartford
Aggregate limit $3,000/$10,000 $2,500/$5,000 $15,000/$25,000 $5,000-$10,000
Covers hired and borrowed equipment? $3,000/$10,000 $2,500/$5,000 No Yes
Miscellaneous equipment also covered? $5,000/$10,000 No Yes Yes
Offered as an endorsement to general liability insurance? Yes Yes Yes Yes
Deductible $500 $500 $0 $0


In your boat towing business, you use various tools and equipment. The tools and equipment insurance offers coverage for the damage or loss of these items. It can cover your items from perils such as:

  • Theft

  •  Vandalism

  • Fire

  • Natural disasters

Coverage Limits of Tools and Equipment Insurance for Boat Towing

Most policies will offer a range of $10,000-$50,000. Notably, some will offer higher limits depending on the value of your equipment.


Add-Ons to Tools and Equipment Insurance for Boat Towing

  • Inland marine coverage–Protects property during transportation over land, including tools and equipment

  • Installation floater coverage–Protects your property during installation or construction, covering losses from theft or damage

Can You Secure Tools and Equipment Insurance If You Are an Independent Contractor?

Yes, you can. But you will get this coverage if you use the tools for business operations.


Is Tool and Equipment Insurance Compulsory?

No, this type of sea tow boat insurance is not compulsory. But it would be best if you safeguard your investments in the event of unforeseen risks.


Boat Insurance for Boat Towing

Boat insurance for boat towing is a policy that offers coverage for your boats and vessels. This sea tow insurance will protect your business against multiple risks, such as:

  • Damage to your vessels

  • Liability for accidents

  •  Injuries to passengers

Components of Boat Insurance for Boat Towing

  • Liability coverage–This covers the costs of damages or injuries you may cause to others while towing a boat

  • Physical damage coverage–This covers damage to the boat being towed or the towing vehicle as caused by collisions, fire, theft, vandalism, and other covered perils 

  • Personal property coverage–This covers any personal items on the boat being towed, such as electronics or fishing gear.

  • Towing and labor coverage–This covers the costs of towing the boat in case of a breakdown or other issues while on the water

  • Emergency assistance coverage–This covers the costs of emergency services such as towing, fuel delivery, and battery jump-starts

  • Wreck removal coverage–This covers the costs of removing the boat if it is damaged or sunk in an accident

  • Agreed value coverage–This provides coverage for the agreed-upon value of the boat in case of a total loss

  • Navigation area coverage–This specifies the navigational limits of the coverage, such as inland waterways or coastal waters

  • Fuel spill liability coverage–This covers cleaning up a fuel spill caused by the boat being towed

  • Consequential damage coverage–This covers damages to the boat being towed that result from covered perils, such as a fire or collision

  • Salvage coverage–This covers the costs of salvaging a boat damaged in an accident

Coverage Limits of Components of Boat Insurance for Boat Towing

An insurer will determine your coverage depending on the type and size of your boat. The company can also check the level of coverage needed. But overall, the range of the coverage limit can be $100,000-$1,000,000.


Are There Any Exclusions to Your Boat Insurance Policy?

Yes, there exists some exclusions to this marine towing insurance policy. For instance, if you incorporate improper towing techniques, most insurers might not compensate. But the exclusions vary from one insurer to another, and you need to check before purchasing a policy.


Workers’ Compensation Insurance for Boat Towing

Accidents may occur during the boat towing process leading to employee injuries. Also, your employees might be exposed to toxins during work, causing work-related illness. The workers compensation insurance will offer benefits for employees in such scenarios. Benefits provided by this insurance include:

  • Lost wages

  • Medical expenses

  • Rehabilitation benefits

  • Death benefits

Coverage Limits of Workers’ Compensation Insurance for Boat Towing

The amount of coverage you get from this type of towboat insurance is hard to determine. This is because payouts depend on the workers comp law of the particular state your business is located. 


Add-Ons to Workers’ Compensation Insurance for Boat Towing

  • Employer’s liability insurance–Protects you if employees file a claim for negligence when a work-related injury or disease happens

Is Workers Compensation Insurance for Boat Towing Mandatory?

If your business has more than one employee, you are legally required to have this insurance.

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Boat Towing Insurance Cost

Cost per Month Cost per Year Deductible
General liability insurance $40 $480 $0-$500
Commercial property insurance $78 $936 $1,000-$2,000
Business owner’s policy $118 $1,416 $1,500
Tools and equipment insurance $45 $540 $500-$1,000
Boat insurance $79 $948 $500-$1,000
Workers compensation insurance $115 $1,380 $2,500-$5,000


The average sea tow insurance cost is $40 per month or $480 per year for a $1 million general liability policy. Most insurers review the following information when calculating premiums

  • The size of your business

  • Exposed risks

  • Type and value of your boats

  •  Number of employees

  • Past insurance claims

  • Towing Equipment

  • Distance and frequency of your towing operations

In connection, here’s a table showing the rates of the recommended boat towing insurance companies:

Cost per Month Cost per Year Best for
NEXT $20 $240 Best overall; Fastest general liability insurance for boat towing businesses
CoverWallet $30 $360 Comparing boat towing insurance quotes online
The Hartford $40 $480 Towing businesses looking for superior customer service and personalized insurance products
Tivly $25 $300 Comparing boat towing insurance quotes over the phone
Thimble $45 $540 Boat towing businesses who need coverage on a short-term basis
Hiscox $50 $600 Small boat towing business that want tailored coverage options
GEICO $60 $720 Boat towing businesses that prioritize a variety of coverage options
Progressive $80 $960 Boat towing businesses looking for responsive and reliable roadside assistance
State Farm $90 $1,080 Boat towing businesses that are primarily interested in liability, collision, and comprehensive coverage
Allstate $100 $1,200 Boat towing businesses looking for online tools and resources to manage policies and file claims

Compare Cheap Boat Towing Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Best Boat Towing Insurance Companies

When selecting a boat towing insurance company, check coverage options and limits. You also need to check the pricing and deductible requirements. Here is a list of the best boat tow insurance companies:


NEXT Boat Towing Insurance

Pros

  • Best overall

  • Issues an online proof of insurance instantly

  • Fastest general liability insurance for boat towing businesses

  • Great customer service and reputation

  • Excellent rates

  • Outstanding value for money

  • Get a 10% discount if you buy two or more policies 

Cons

  • Couldn’t find any

NEXT is a renowned insurance company. This company has gained attention due to its use of modern technology to personalize customer coverage. They use algorithms to create a risk profile for each customer. If you are looking for sea tow insurance coverage, this company offers the best deals

Best for: Best overall; Fastest general liability insurance for boat towing businesses

Average cost: $20 per month

Our rating: 10/10


CoverWallet Boat Towing Insurance

Pros

  • User-friendly platform

  • Offers multiple insurance products

  • Instant quotes

Cons

  • May not offer high specialization in the boat towing insurance

  • Not an insurance company but an insurance broker

CoverWallet is a well-known digital insurance platform. They have a very user-friendly platform and an easy application process. This company offers multiple insurance products, including boat towing insurance. They make use of technology to simplify the insurance buying process.

Best for: Comparing boat towing insurance quotes online 

Average cost: $30 per month

Our rating: 10/10


The Hartford Boat Towing Insurance

Pros

  • Specialized insurance policies for boaters

  • Discounts available

  • Outstanding customer service

Cons

  • Limited availability in some states

The Hartford also offers specialized insurance products for boaters. This company has received numerous awards and accolades for its customer service and claims handling.

Best for: Towing businesses looking for superior customer service and personalized insurance products

Average cost: $40 per month

Our rating: 10/10


Tivly Boat Towing Insurance

Pros

  • Real-time claims processing

  • Customizable coverage options

  • Personalized support

Cons

  • It is a relatively new company with a limited history

Tivly has not been in the insurance market for many years. But it is known for offering a simplified insurance application process and claim processing. They also offer a personalized experience. Call now to compare quotes over the phone. 

Best for: Comparing boat towing insurance quotes over the phone 

Average cost: $25 per month

Our rating: 10/10


Thimble Boat Towing Insurance

Pros

  • Flexible coverage options

  • Instant coverage

  • Customizable options

Cons

  • Lack of long-term coverage

Thimble is an insurance company that offers multiple insurance policies. They use technology to determine fair and accurate prices for all their policies. This company offers cost-effective and personalized insurance coverage.

Best for: Boat towing businesses who need coverage on a short-term basis

Average cost: $45 per month

Our rating: 10/10


Hiscox Boat Towing Insurance

Pros 

  • Customizable coverage options

  • Risk management services

  •  Wide coverage area

Cons

  • Limited specialized coverage options

Hiscox is a reputable insurance company that covers entrepreneurs and small businesses. They offer multiple insurance products, including boat US towing insurance. This insurer can offer tailored coverage solutions to meet the unique needs of all customers.

Best for: Small boat towing businesses that want tailored coverage options

Average cost: $50 per month

Our rating: 10/10


GEICO Boat Towing Insurance

Pros

  • Affordable rates

  • Broad coverage options on the GEICO boat insurance towing

  • Offers multiple additional coverage options such as boat roadside assistance

Cons

  • The coverage options and availability might vary by state

GEICO is a reputable insurance company that offers boat towing insurance. Their insurance policies will cover the costs of labor or emergency towing if a boat is disabled in the water. The company has many coverage options, such as GEICO roadside assistance and fuel delivery. GEICO boat towing insurance comes with attractive discounts for you.

Best for: Boat towing businesses that prioritize a variety of coverage options

Average cost: $60 per month

Our rating: 9/10


Progressive Boat Towing Insurance

Pros

  • 24/7 roadside assistance

  • Discounts available on the Progressive boat towing insurance

  • Broad coverage options

Cons

  • High rates

Progressive is a reputable insurance company that offers comprehensive boat towing coverage. This company offers 24/7 Progressive boat roadside assistance. They also have a fast response in the event of any emergency. Another feature that makes them outstanding is their safe boater discounts on the Progressive on water towing policies.

Best for: Boat towing businesses looking for responsive and reliable roadside assistance

Average cost: $80 per month

Our rating: 9/10


State Farm Boat Towing Insurance

Pros

  • Offers multiple coverage options

  • Have a national network of agents

  • Easy-to-use virtual platform

Cons

  • Slow response times

State Farm is a well-known company. This insurance company offers a variety of insurance products. They offer the best deals on boat insurance and boat towing insurance.  Also, they have excellent customer service and experienced agents available around the clock to offer assistance. You can find various discounts on the State Farm boat towing insurance policies.

Best for: Boat towing businesses that are primarily interested in liability, collision, and comprehensive coverage

Average cost: $90 per month

Our rating: 9/10


Allstate Boat Towing Insurance

Pros

  • Have online resources and tools

  • Mobile app available

  • Unique coverage options

Cons

  • Slow response time

Allstate is a well-established insurance company that offers multiple insurance products. They offer home, auto, and boat insurance. When you apply for Allstate boat towing insurance, you can use their online tools and resources to manage your policy.

Best for: Boat towing businesses looking for online tools and resources to manage policies and file claims

Average cost: $100 per month

Our rating: 9/10


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