Best Insurance For Boats to Cover Salvage, Wreck Removal and Uninsured Boater Claims

When a wake turns into a nightmare—collision, grounding, sinking, or being hit by an uninsured boater—you want a policy that gets your vessel out of danger and covers the costs of salvage, wreck removal and third-party losses. This guide explains what to look for, how much it costs in the U.S., and which insurers and coverages are strongest for salvage/wreck-removal and uninsured boater claims.

Why salvage, wreck removal and uninsured boater coverage matter

• Salvage & wreck removal: Costs to raise, remove, or dispose of a sunken or wrecked vessel and mitigate environmental damage (fuel removal, debris). These can run into tens of thousands of dollars.
• Uninsured/underinsured boater: Pays for your medical bills, boat repairs and sometimes property damage if the at-fault operator has no insurance or inadequate limits.
• Pollution liability: Related to wreck removal—pay attention if your boating area has strict environmental cleanup fines.

Without the right coverages you may face:

• Salvage/wreck bills of $10,000–$75,000+ (depending on location and vessel size)
• Out-of-pocket repair and medical costs after a collision with an uninsured boater

Typical U.S. costs and examples

• Average annual boat insurance in the U.S. falls roughly in the $300–$600 range for common small to mid-size recreational boats; larger vessels and yachts often cost $1,000–$10,000+ annually depending on value and navigation area (sources: Progressive, BoatUS, ValuePenguin). See insurer pages for exact quotes from your zip code:
  • Progressive — https://www.progressive.com/boat/boat-insurance/
  • BoatUS — https://www.boatus.com/insurance/
  • Market overview — https://www.valuepenguin.com/average-cost-of-boat-insurance
• Example ranges by use/type (approximate):
  • Small fishing boat (14–18 ft, outboard): $150–$400/year
  • Runabout or bowrider (17–22 ft): $300–$900/year
  • Larger cruisers / small yachts (30–50 ft): $1,200–$6,000+/year
• Wreck removal sublimits sometimes listed by insurers range from $5,000 to $25,000 as a standard sublimit; many insurers will offer higher limits or pay “up to the policy limit” if selected as part of hull coverage. Always verify the limit in the policy declarations.

(Prices vary widely by location—Florida, the Gulf Coast and parts of the Great Lakes often see higher rates due to storm risk and high-traffic waters.)

Key coverages to include (and wording to watch)

1. Hull coverage (agreed value or ACV)
   • Pays for damage to the boat itself. For salvage/wreck removal, ensure hull coverage includes wreck removal “up to policy limit” or has an adequate sublimit.
2. Wreck removal / salvage expense
   • Look for explicit language: “wreck removal costs” or “salvage and wreck removal” with stated limits. If the clause is vague, request a written endorsement.
3. Uninsured / underinsured boater (BOAT-UM/UIM)
   • Covers medical and property damage from at-fault operators who lack insurance or adequate limits. Some insurers include property damage; others limit to bodily injury—confirm both.
4. Pollution / environmental liability
   • Pays clean-up fines and mitigation; critical in sensitive waters like Florida Keys, Chesapeake Bay or San Francisco Bay.
5. Towing & assistance (on-water)
   • Not the same as wreck removal; towing helps get you to port but won’t pay for raising a sunken hull.
6. Agreed value vs actual cash value (ACV)
   • Agreed value pays the amount you and the insurer agree, which better protects against salvage/total loss shortfalls.

Top U.S. insurers for salvage, wreck removal and uninsured boater claims (and price signals)

Below is a practical comparison of well-known insurers and what they’re commonly chosen for. Pricing shown are typical starting ranges—get a quote for your region and vessel.

Sources: Progressive, BoatUS and GEICO product pages; national cost surveys (see sources above). Actual premiums vary by zip code, hull value, navigation limits and claims history.

State & location-specific notes (U.S. focus)

• Florida (Miami, Tampa, Fort Lauderdale): high demand for salvage/pollution coverage due to crowded waterways and hurricanes. Expect higher premiums and strongly consider higher wreck removal limits.
• Gulf Coast (Houston, New Orleans): storm and hurricane exposure increase costs and make pollution/wreck clauses critical.
• Chesapeake Bay (MD/VA): salvage operations are common for grounding events—select a carrier experienced in estuarine salvage.
• Great Lakes (Michigan, Wisconsin): cold-water sinking risks and seasonal shrink-wrap/winter storage considerations—see seasonality/laid-up options.

If you boat in high-risk areas, request higher wreck removal limits (e.g., $25,000–$100,000) or a policy that pays “up to the policy limit” rather than a fixed small sublimit.

Claims: what insurers typically cover and real-world tips

• Salvage/wreck removal: reputable insurers will coordinate with marine salvors. Expect adjuster involvement and possible pre-authorization for large removals.
• Uninsured boater: insurers require proof (police report, witness statements) that the at-fault party was uninsured or underinsured.
• Environmental fines: many policies will cover reasonable clean-up costs, but not intentional pollution—clarify policy exclusions.

Tips to speed claims:

• Document the incident (photos, GPS coordinates).
• File a police report for collisions/strikes.
• Keep maintenance logs and registration handy.
• Notify insurer immediately for pre-authorization when possible.

How to choose the best policy for salvage, wreck removal and uninsured boater protection

• Verify explicit wording for “wreck removal” and whether it’s limited to a dollar amount or “up to the policy limit.”
• Ask for pollution liability and environmental cleanup coverage if you boat in regulated or ecologically sensitive waters.
• Confirm uninsured boater extends to both bodily injury and property damage (many policies focus on medical only).
• Compare deductibles vs. limits: a low deductible helps for small claims, but for catastrophic salvage you want higher limits rather than tiny deductibles.
• For high-value boats and yachts, use specialty underwriters that provide customized salvage and wreck removal endorsements.

For related topics in this series, see:

• Best Insurance For Boats & Watercraft: Hull vs Liability Coverage and What You Need
• Best Insurance For Boats to Protect Electronics, Custom Gear and Trailers
• Best Insurance For Boats For Marina and Mooring Damage: Slip and Dock Liability Explained

Final checklist before you buy

• Read the wreck removal clause and confirm limits in writing.
• Ensure uninsured boater coverage includes property damage or add it if missing.
• Ask for agreed value for hull coverage to avoid underpayment on total loss.
• Get at least three local quotes (include a marine-focused broker like BoatUS or a national insurer) and compare limits, not just premiums.
• Keep contact info for local marine salvors and your insurer’s 24/7 emergency claims line in your fail-safe kit.

Sources

• Progressive — Boat Insurance Overview: https://www.progressive.com/boat/boat-insurance/
• BoatUS — Insurance & On-Water Services: https://www.boatus.com/insurance/
• ValuePenguin — Average Cost of Boat Insurance: https://www.valuepenguin.com/average-cost-of-boat-insurance
• GEICO — Boat Insurance: https://www.geico.com/boat-insurance/