Straight answers,
no jargon.

Why can't I insure my boat for more than I paid for it?

Our carriers write agreed value coverage, which means the face amount of the policy is paid in the event of a total loss. If we insured your boat for more than you paid, you could profit from a loss — which contradicts the purpose of insurance. Coverage is meant to compensate for loss, nothing more.

What's the difference between agreed value and actual cash value?

Agreed value is the amount you and the carrier agree on when the policy is written. On a total loss, you receive that amount with no depreciation. Actual cash value pays the lesser of the current market value or the rating base — depreciation IS deducted. We recommend agreed value for most boat owners.

How much liability coverage should I carry?

Ask yourself: how much do I need to feel completely protected? We offer limits from $100,000 to $1,000,000+. Boaters with significant assets typically choose higher liability; most NBOA customers land at $300,000. If you host guests aboard or run offshore, consider more.

Will my lack of boating experience affect my policy?

Boating experience is one of the factors carriers use to rate your policy. With less experience, fewer carriers may trust your ability to safely operate a vessel. If you're a first-time owner, starting with a smaller vessel usually means more affordable coverage and more carriers willing to write the risk.

How far offshore can I take my vessel?

Navigation limits are stated on your policy's declarations page. Every carrier sets limits differently — coastal, offshore, Bahamas, Caribbean. It's important to read your specific policy for things like nautical miles vs. regular miles and named territory boundaries. If your trip goes beyond your policy's navigation area, coverage voids for that portion of the trip. Call us if you're planning a longer voyage.

Does my homeowners insurance cover my boat?

In many cases homeowners offers limited coverage for small boats — but it typically won't cover hurricane damage, on-water liability, fuel spills, or navigation outside protected inland waters. A dedicated marine policy covers the ways you actually use the boat.

How do I file a claim?

You have two options. Log in to NBOA Now® (fastest — available 24/7) or call 1-800-248-3512 Mon–Fri 8:30am–6pm or Sat 9am–1pm Eastern. We connect you directly with your carrier's claims team and follow up on your behalf.

How long does claim settlement take?

Timing depends on complexity. An adjuster is typically assigned within 24–48 hours. For significant losses, a marine surveyor may inspect the vessel. Under agreed value policies, total loss settlements are straightforward — no depreciation debates. Your NBOA representative stays in communication throughout.

Will a claim raise my premium?

It depends on the claim type, amount, and your overall claim history. A single small claim rarely has a significant impact. Multiple claims or a large at-fault claim typically do. We can discuss the likely premium impact when you report a claim.