Skip to content
  • MyNewMarkets.com
  • Claims Journal
  • Insurance Journal TV
  • Academy of Insurance
  • Carrier Management
Insurance Journal - Property Casualty Industry News

Featured Stories

  • State Farm Still Wants a 30% Rate Increase in California
  • 2024 P/C Combined Ratio Best in More Than a Decade
  • Articles
  • Jobs
  • Markets

Current Magazine

current magazine
  • Read Online
  • Subscribe
  • Login
  • Front Page
    • National
    • International
    • Most Popular
    • Magazine
    • Forums
    • Blogs
    • Videos/Podcasts
    • Newsletters
  • News
    • Most Popular
    • National
    • International
    • East
    • Midwest
    • South Central
    • Southeast
    • West
  • Magazines
  • Research
  • Directories
  • Jobs
  • Features
    • Events
    • Forums
    • Market Directories
    • Quotes
    • Polls
    • Rankings & Awards
    • Insurance Giving Back
  • Subscribe

BoatUS Launches Peer-to-Peer Boat Insurance Program

August 28, 2015
Email This Subscribe to Newsletter
  • Article
  • 2 Comments

BoatUS has launched a boat rental insurance policy available for rentals through Boatbound, a nationwide boat rental marketplace. The new Peer-to-Peer Boat Rental Policy covers the rental period and is designed specifically to meet the needs of this new and growing market.

According to BoatUS Assistant Vice President Ed Holownia, most recreational boat insurance policies don’t provide coverage during a rental. “For boats to become a viable part of the sharing economy, the insurance question had to be addressed,” he said.

Now three years old and with thousands of boats listed across the US, Boatbound has been the fastest-growing company in the boat sharing market, according to BoatUS.

Boatbound’s average renter is between 25 and 44 years old with five or more years of boating experience.

“Boatbound is fundamentally changing boating,” said Boatbound Founder Aaron Hall. “Finding a boat is now as easy as finding a hotel, and boat owners can share their boat when it’s not in use to offset boat, slip, and maintenance costs turning their boats into assets.”

With the new Peer-to-Peer Boat Rental Policy, BoatUS offers coverage to renters and protection to owners for rentals arranged through Boatbound.

Boat owners wishing to rent their boat through Boatbound must have an underlying recreational boat insurance policy. Those with BoatUS or Seaworthy Insurance Co. policies will be eligible for a fast-track approval process. Once the boat owner signs up at Boatbound.co and gets approved, the Peer-to-Peer Boat Rental Policy provides primary coverage during each rental period. The cost of the policy is included in the fee owners pay Boatbound for each rental.

The Peer-to-Peer Boat Rental Policy is underwritten by Seaworthy Insurance Co. and will pay up to the actual cash value of the boat. The policy includes $300,000 liability coverage per person and up to $1 million total liability coverage per accident. Up to $854,400 in fuel spill coverage is also included as are $25,000 per person/per accident medical payments coverage, $100,000 in uninsured boater coverage, and full salvage coverage up to the boat’s actual cash value. Deductibles are based on boat value.

Topics Sharing Economy

Was this article valuable?

Thank you! Please tell us what we can do to improve this article.

Thank you! % of people found this article valuable. Please tell us what you liked about it.

Here are more articles you may enjoy.

Q1 Shows ‘Clear’ Signs of Commercial P/C Softening, Says CIAB
Acrisure Secures $2.1 Billion Funding Round for M&A, Tech
Central US Severe Weather Outbreak Caused Billions in Damages, AccuWeather Says
2024 P/C Insurance Combined Ratio Best in More Than a Decade

Interested in Sharing Economy?

Get automatic alerts for this topic.

Email This Subscribe to Newsletter
  • Categories: National NewsTopics: Boat Insurance, boat rentals, BoatUS, individual sharing economy, Markets/Coverages, peer-to-peer rentals, recreational boat insurance, risks in sharing economy, sharing economy
  • Have a hot lead? Email us at newsdesk@insurancejournal.com

Latest Comments

  • April 14, 2018 at 10:46 am
    Captain Dave says:
    What a stupid idea. Figures BoatUS would be involved with this. So your going to rent your boat to unknown people to make a few bucks. Most business insurance covers liabil... read more
  • August 28, 2015 at 2:07 pm
    earlybird says:
    Great idea! give your boat to an idiot to use! No underwriting!

Add a CommentSee All Comments (2)Add a Comment Cancel reply

Your email address will not be published. Required fields are marked *

*

*

More News
EEOC_SealAustin Bar to Pay $42K Over Pregnancy Discrimination Lawsuit
EU to Propose Removing Business Barriers to Enhance Competitiveness Amid US Tariffs
Former Progressive CEO Renwick, 69, Dies
Hack of Contractor Was at Root of Massive Federal Data Breach
More News Features

Read This Next

  • BoatUS Launches Peer-to-Peer Boat Insurance Program
  • Uber Teams Up With May Mobility to Launch Robotaxis in US Cities
  • Auto Coverage Under a CGL Policy
  • Bayer Seeks Roundup Settlement, Explores Monsanto Bankruptcy: Reports
  • Lloyd's Promotes Chief of Markets Tiernan to CEO, Succeeding Neal

Insurance Jobs

  • Experience Property Resolution Claim Representative - Durham, NC
  • B2B Copywriter—Business Insurance - Hartford, CT
  • Account Executive/Underwriter, Life Sciences Specialist - Walnut Creek, CA
  • Sr Accountant – Private Equity - Saint Paul, MN
  • Associate Director, Retirement - Atlanta, GA
MyNewMarkets
  • 5 Ways to Prepare for Healthcare Liability Changes in 2025
  • What's Next For Workers' Comp?
  • Soft D&O Market May Come to an End as Risk Complexities Rise
  • Exclusions: Active Assailant Coverage - Oh My!
  • 10 Things to Know About Insuring Boats & Marinas
Claims Journal
  • Court Says Google, AI Firm Must Face Mother's Lawsuit Over Suicide of Son
  • State Farm Still Wants a 30% Rate Increase in California
  • No NOAA Large-Disaster Data Could Hurt Insurer Grasp of Secondary Perils, Says AM Best
  • Marks & Spencer Says Cyberattack to Cost $403 Million
  • APCIA Says Record Shows 'Minimal Complaints' on Hurricane Milton, Helene Claims
Academy of Insurance education
  • May 22 Commercial Property: Five Bombs and How to Defuse Them
  • June 5 E&O and Hard Markets: How Trying to Keep a Client Might Cause Trouble
  • June 12 Rating AI Tools: Balancing Functionality and Security
  • June 19 Can You Hear Me? Yes, I Am Listening!

Insurance News

  • News by Region
  • News by Topic
  • Yesterday

Site Search

Features

  • Insurance Markets Directory
  • Forums
  • A.M. Best Company Ratings
  • Industry Events
  • Agencies For Sale
  • Newswire
  • Insurance Jobs
  • Rankings & Awards

Connect with us

  • Email Newsletters
  • Magazine Subscriptions
  • For Your Website
  • RSS Feeds
  • Twitter
  • Facebook
  • LinkedIn
  • Do Not Sell My Info

Insurance Journal

  • Submit News
  • Advertise
  • Subscribe
  • Reprints
  • Link to Us
  • Contact Us

Wells Media Group Network

  • Insurance Journal
  • MyNewMarkets.com
  • Claims Journal
  • Insurance Journal TV
  • Academy of Insurance
  • Carrier Management
© 2025 by Wells Media Group, Inc. Privacy Policy | Terms & Conditions | Site Map