The truth is, all marine policies are not the same. Unlike your car or homeowner’s insurance, the language used in a boat or yacht policy may vary from company (carrier) to company and policy to policy.

Consider this: What would your current boat or insurance policy pay if you needed to collect on a claim? According to Chris VanTol of VanTol Insurance Group, “That depends on the quality of both your insurance carrier and the type of policy that you have purchased.”

An agreed value yacht policy (26+ feet) or agreed value boat policy (26 feet or less) will pay claims with replacement cost parts. On a total loss, the policy will pay the total hull insured value stated on the policy.

An Actual Cash Value policy (ACV) may be sold at a lesser annual premium, but any total or partial loss will be paid out with depreciation included for all items on your vessel based on the age of the boat.

“We typically do not offer our clients an ACV policy because the coverage simply is not there at the time of a claim on the vessel,” explains VanTol.

So, do you have the correct insurance on your boat?

Take a closer look at your policy. Call VanTol Insurance Group at 586.772.0650, or visit