LAST UPDATED: September 12, 2024
Insurance policy
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Our goal is to ensure that everyone has a great experience when they rent your boat. That's why we've gone the extra mile to offer Boatsetter owners and renters peace of mind with the BoatUS Peer-to-Peer Rental Policy specially designed to protect the owner and renter during a rental, on-water assistance through TowBoatUS, online boater safety certifications through the BoatU.S. Foundation for Boating Safety and Clean Water, and our world-class 24/7 support.
BoatU.S. Peer-to-Peer Boat Rental PolicyPOLICY EFFECTIVE MARCH 23, 2023
Coverage is provided under the Peer-to-Peer Boat Rental Policy, which is underwritten by GEICO Marine Insurance Company. The policy was written from the ground up as a stand-alone recreational boat rental insurance policy covering the period of time that the boat is being rented and is available for all non-commercially insured boats. Each Boatsetter rental covered under the Peer-to-Peer Boat Rental Policy through GEICO Marine, comes with significant liability coverage: $300,000 per person and $1,000,000 total liability per accident. Bookings in Florida insured under the Peer-to-Peer Boat Rental Policy through GEICO have additional coverages, which are $500,000 per person and $1,000,000 total liability per accident.
Summary
The following insurance information pertains to boats listed by individuals, which are covered under the Peer-to-Peer Boat Rental Policy.
| COVERAGES | INSURED | AMOUNT OF INSURANCE/LIMITS | |
|---|---|---|---|
| Hull and Equipment | Boat Owner | Insured Value, Not to Exceed | Actual Cash Value |
| Boating Liability (Protection & Indemnity) | Boat Owner, Renter, Permissive Operators, Paid Captain (if any), and Policyholder | General US Liability Limit per Person, Each Accident, Bodily Injury and Property Damage | $300,000 |
| Florida Liability Limit per Person, Each Accident, Bodily Injury & Property Damage | $500,000 | ||
| Aggregate Limit Each Accident | $1,000,000 | ||
| Fuel and Other Spill Liability | Boat Owner, Renter, Permissive Operators, Paid Captain (if any), and Policyholder | Limit Each Accident | $1,076,000 |
| Medical Payments | Boat Owner, Renter, Permissive Operators, Guests | Limit Per Person Each Accident | $25,000 |
| Boat Trailer | Boat Owner | Insured Value, Not to Exceed | Actual Cash Value up to $2,500 |
| Uninsured Boater | Boat Owner, Renter, Permissive Operators, Guests, and Paid Captain (if any) | Liability Limit Each Accident | $100,000 |
Deductible
Hull and Equipment – $7,500 for all vessels.No Deductibles for other coverages (Boating Liability, Fuel and Other Spill Liability, Medical Payments, Boat Trailer and Uninsured Boater)
How it works with your insurance
The Peer-to-Peer Boat Rental Policy is the primary policy during the rental period and doesn't require you to change anything with your regular boat policy. If your boat insurance policy doesn't allow participation in a peer-to-peer rental service, we've made it easy to move to GEICO Marine which does allow their policyholders to participate. To get started on a quote, click here.View all Insurance FAQ
Eligibility
In order for your boat to be eligible for coverage under the Peer-to-Peer Boat Rental Policy through GEICO Marine, it must meet all of the following requirements:
In addition, the following boats will require additional documentation in order to be underwritten at the discretion of GEICO Marine:
Excluded vessels:
If the Boat Owner acts as Captain or provides a Captain for the Rental:
Captains
Boatsetter will be adding a feature for renters to select licensed captains to command the vessels. Licensed captains will also be included under the policy for liability coverage. Additionally captained rentals are permitted to go from Florida to the Bahamas and the Channel Islands in California. For more information on captain coverage, please review the section labeled ADDITIONAL COVERAGES FOR CAPTAINED RENTALS in the policy.
Claims
We do our best to provide you with the tools and resources to make your rental a safe experience, but we understand that sometimes accidents happen. To help us expedite a resolution, be sure to complete and keep the pre- and post-rental inspection documents for each rental and be prepared to submit them to the insurance company. Please send to contact@boatsetter.com when complete.
Security Deposits
Boatsetter includes a security deposit in every Listing ("Security Deposits"). For all Security Deposits included in a Listing for a confirmed booking of a Boat, Boatsetter will, in its capacity as the payment agent of the Owner, use its commercially reasonable efforts to obtain a pre-authorization of the Renter's credit card in the amount of either $500 or $1000 for the Security Deposit within a reasonable time prior to the Renter's check-in at the applicable Owner's Boat. Boatsetter will also use its commercially reasonable efforts to address Owners' requests and claims related to Security Deposits, but Boatsetter is not responsible for administering or accepting any claims by Owners related to Security Deposits, and disclaims any and all liability in this regard.If an Owner does not respond to the questions related to a Security Deposit capture within 7 days of the rental date, the damages will be considered resolved. As a result, the Renter's Security Deposit will be refunded and the Owner will no longer have any rights to the funds.Renters are always responsible for having a card on file with sufficient funds available to cover the Security Deposit and any applicable deductible. Boatsetter reserves the right to cancel the booking if the Security Deposit was not captured within 24 hours of the rental. If a booking has concluded and the Security Deposit was not captured, Boatsetter reserves the right to charge any/all payment methods in order to secure the necessary funds.
TO REPORT AN INSURANCE CLAIM: 1-877-970-BOAT (2628)
In the Event of an Accident
TO REQUEST ON-WATER SERVICE FROM TOWBOATUS: 1-800-391-4869
