Frequently Asked Questions About GEICO Marine Insurance
Who is GEICO Marine Insurance Company? Are they reputable?
GEICO Marine Insurance Company was originally established in 1989 as Seaworthy Insurance Company and is domiciled in Nebraska. The company was acquired by Berkshire Hathaway in 2007 providing capital strength and security for policyholders. In 2015, it changed its name to GEICO Marine Insurance Company. GEICO Marine Insurance Company is rated A++ by A.M. Best.
What boat types are not able to be insured?
GEICO wants to be your first choice for boat insurance. However, there are some types of vessels that are not eligible for a GEICO policy which are listed below. Other criteria may apply and will be reviewed by underwriters at the time of an application for boat insurance:
- Boats over 50 feet in length
- Watercraft over 40 years old
- Houseboats over 15 years old
- Houseboats that do not have motors
- Floating homes
- Airboats
- Multihull sailboats
- Watercraft made of wood, composite material, ferro-cement, steel, fiberglass over wood and fiberglass over aluminum
- Homemade boats
- Boats with more than four (4) owners
- Amphibious land boats or hovercraft
- Watercraft previously deemed a constructive total loss
- Boats valued over $2,500,000
How do you handle claims?
Expert claims service is provided by dedicated adjustors with extensive experience helping boat and yacht owners when they need it most. Our GEICO Marine staff is committed to providing fast and fair service. There is no better group of caring professionals to handle your claims.
For large-scale claims as a result of hurricanes, tornados, ice storms, storage facility collapses and marina fires, GEICO Marine Insurance claims adjustors are assisted by the BoatUS CAT (Catastrophe) Team. This renowned nationwide network of inspectors, towing and salvage companies will be dispatched to the site and will participate in a coordinated effort to find boats and settle claims as quickly as possible.
All GEICO Marine Insurance policies come with 24/7 dispatch of assistance.
Please note: The above is meant as general information and as general policy descriptions to help you understand the different types of coverages. These descriptions do not refer to any specific contract of insurance and they do not modify any definitions, exclusions or any other provision expressly stated in any contracts of insurance. We encourage you to speak to your insurance representative and to read your policy contract to fully understand your coverages.
*Some discounts, coverages, payment plans and features are not available in all states. Coverage is subject to the terms, limits and conditions of your policy contract.