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Yachts, Boats & Charter Vessels Frequently Asked Questions About GEICO Marine Insurance
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Who is GEICO Marine Insurance Company? Are they reputable?

GEICO Marine Insurance Company was originally established in 1989 as Seaworthy Insurance Company, a captive insurance company and is domiciled in Annapolis, Maryland. The company was acquired by Berkshire Hathaway in 2007 providing capital strength and security for your policyholders. In 2015, the name was changed to GEICO Marine Insurance Company. GEICO Marine Insurance Company is rated A+ by A.M. Best.

What types of boats does GEICO Marine insure?

We insure all boat types, providing agencies a one stop source for boat and yacht coverage. We feature five policy types: a Yacht Policy, a SuperYacht Policy designed specifically to meet the needs of the large yacht owner, a Charter Boat Policy, Pleasure Boats and Liability Only options for boats and some yachts. Visit our policy pages for all the details.

How do I sell GEICO Marine Insurance policies to my customers?

Our agent-friendly rating/quoting system puts GEICO Marine agents in complete control of business placed with us. Because the system is web-based, there’s no software to download and the most basic customer information (captured in a single-screen process) produces a quick quote. Agents can send emails, issue binders, download product brochures and desktop reference materials, report and view claims status and track commissions – all from the convenience of your computer.

What is your commission structure at GEICO Marine?

We have a very competitive commission structure for all size agencies.

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 customer’s 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 BoatU.S. CAT (Catastrophe) Team. This renowned nationwide network of surveyors, 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.