An Allstate or State Farm policy , is the cheapest for a reason, and is perfect for many people with smaller - older boats. They also do not require a Survey.
Their policies do not include several critical type of coverages that many Yacht owners need and demand, hence the higher prices for a typical Yacht policy.
Another tip about Allstate or State Farm, - let the agent quote everything - Home - Auto & Boat - you may pick up some savings this way as well. Remember these folks rate ALL Insurance based upon credit history and past claims, if your clean, do shop around.
When it comes to claims, I find Allstate generally sends an Auto Adjuster, - often they know little about boats. For damage to your motor this works for the better. For a total loss, they get three prices from different marina's and pay you the average of the three, often way below what the vessel is actually insured for - hence major discontent.
As for Liability? Liability is Liability, they are good here.
Pollution? - Yep I am pretty sure there is no coverage, as I have read a Allstate contract and there is no mention of this.
Salvage????? don't be calling Sea Tow to Salvage your insured vessel with Allstate as they limit the Salvage amount, and I have heard Sea Tow operators complain o me about this.
If you consider your boat special - then I think you should look at a Yacht Policy. My agency works with boats in the 30' range and up - for the most part.
Ski Safe policy is not a typical Yacht Policy. There are limits to Salvage, - no mention of Pollution in the contract. Actual Cash Value on The Hull & Machinery, Wind Damage Deductibles - Just as I mentioned about the Allstate Contract.
I would not call a policy from them "Full coverage" it more more like Swiss Cheese insurance. Alot of holes or gaps in this policy a typical Yacht Policy does not have.
( I just read several of their policy forms)
This does fit the bill for for cheap insurance, a good market for people who want the most inexpensive insurance. For a small - older boat, I think this is OK, just like I said about Allstate.
We deal with insurance company's many times during the year, (boats that sank, hit something, picked up a bag and overheated and other events) and I use Boat US for my own boats. They are the best company when it comes to paying claims no questions asked.
I use State Farm- added the boat policy along with my homeowners and car insurance for under $300 for a boat woth about 18K. The policy also includes a tow coverage up to $300 and I had to be towed last summer from the inlet to Breezee Lee at 3 in the morning- cost $275- fully covered by my policy. I'd call that a good investment