5 Best Boat/Yacht Insurance Companies Heading into 2024

4. State Farm

Annual Revenue (2022): $89.30 billion

State Farm is a group of mutual insurance companies in the US, headquartered in Bloomington, Illinois. The company specializes in insurance, financial services, life insurance, health insurance, and auto insurance. The company offers extensive boat insurance providing coverage for sinking, fire, theft, storms, collision, capsizing, explosion, and stranding. State Farm is one of the largest auto insurers in the US, providing 24/7 assistance to its customers with the help of 19,000 agents nationwide. The extensive boat coverage also includes anchors, electric trolling motors, oars, extra fuel tanks, tools, detachable canopies, seat cushions, life preservers, skis, and their tow ropes and dinghies. It is ranked among the best boat/yacht insurance companies. The company reported an annual revenue of $89.30 billion in 2022.