GEICO BoatUS coverage information

Our insurance coverage is provided under the Peer-to-Peer Boat Rental Policy, which is underwritten by GEICO BoatUS. The policy was written from the ground up as a stand-alone recreational boat rental insurance policy covering the period of time the boat is being rented. Please refer to the following explanations regarding GEICO BoatUS insurance coverage:

When is the boat insured?

The boat is only insured during the “Rental Period”, which is the period of time indicated on the “Rental Summary”. A rental period may be extended beyond the time stipulated in the “Rental Summary” if the renter is delayed in returning the insured boat to the boat owner’s possession due to an accident, breakdown, or stranding or if the renter obtains permission from the boat owner to extend the rental period and agrees to pay any additional rental fees. The boat will need to have its own insurance policy that covers the boat during times other than when it is being rented through Boatsetter.

How much is the boat insured for?

The coverage provided for the boat during the rental period is on an actual cash value basis. Actual cash value is defined as the value of the covered property at the time of loss or damage. The actual cash value will be determined by industry reference materials, such as the N.A.D.A. book, the BUC Used Price Guide and ABOS Marine Blue Book. 

What happens if there is a loss?

You and the renter are required to complete check-in and check-out to verify the boat’s condition at the start and end of the booking. Owners: to avoid $5,000 in liability on damages claims, it is mandatory to complete the pre-/post-booking inspection form and take accompanying photos. In the case of damages, please email the form and applicable photos to To submit a claim, call 800-937-1937.

What happens if there is a need for on-the-water assistance during the rental?

Towing and assistance for breakdowns on the water will be provided by TowBoatUS. You may contact TowBoatUS by phone at 1-800-391-4869 or VHF Channel 16: Hail “TowBoatUS.”

Do I have coverage for my belongings on board the boat?

Personal items (including, but not limited to, scuba gear, fishing equipment, clothing, stereos, camera), fuel, perishables and consumables (including, but not limited to, food, ice, beverages) are not covered under the policy.

Are waterskiing and wakeboarding covered by insurance?

Yes. Keep in mind, the Peer-to-Peer Boat Rental Policy does not cover bodily injury or property damage arising out of parasailing, kite skiing or riding in/on any other device that is designed to become airborne.

What are my liability limits?

The policy includes boating liability coverage for bodily injury and property damage with a limit of $300,000 per person each accident up to a total limit of $300,000 per accident.

What other coverages are included in the Peer-to-Peer Boat Rental Policy?

The policy also provides Fuel and Other Spill Liability, Medical Payments and Uninsured Boater coverage as well as trailer coverage, if the rented boat comes with a trailer.

Where is the boat covered?

Coverage is provided during the rental period while the insured boat is afloat in the United States and Canadian coastal and inland waters within 12 miles of shore and while being transported by land conveyance within 250 miles of its regularly garaged location in the United States.

Are multi-day rentals covered?

Yes, multi-day rentals are covered by the GEICO BoatUS insurance policy as long as the boat is moored at a safe location from sunset to sunrise. If the rental is booked for a single date, the rental period cannot exceed 24 hours. For multi-day bookings, coverage ends according to the trip details. 

What happens if there is a rental scheduled and a Named Storm threatens the area?

At the time of issuance of a watch or a warning for a “named storm,” all rentals in the watch or warning area shall be canceled. Coverage will be suspended within the area of the watch or warning until the watch or warning is lifted. There is no coverage provided for damage due to a named storm.

 ** This is just a brief overview of the coverages provided. Please be sure to review the full policy for complete terms, conditions and exclusions**