I left my boat at the marina overnight. I woke up to find my rod holders empty. Six custom Shimano/G.Loomis combos were gone—$6,000 worth of gear. My insurance company said, “Your Personal Effects limit is $500. Here’s a check for $500 minus your $500 deductible. Have a nice day.”
Key Takeaways
- Fishing Gear is “Personal Property”: It is not considered part of the “Hull” or “Equipment” (like a GPS bolted to the dash). It falls under the “Unattached Equipment” or “Personal Effects” sub-limit.
- Sub-Limits are Low: Most standard policies cap this at $500 or $1,000. For a serious angler, that covers maybe one reel.
- The “Fishing Endorsement”: You must buy a specific rider for “Fishing Equipment.” Companies like Charter Lakes or specialized insurers allow you to schedule tackle for $5k, $10k, or $50k.
- Homeowners Policy: Your home insurance might cover theft of personal property “off-premises.” However, a $6,000 claim might raise your home premiums for 5 years.
The “Why” (The Trap)
The trap is “Unscheduled Inventory.”
Insurers assume the average boater has a cooler and some towels. They don’t price the policy for high-end tackle. If you didn’t list it (“Schedule it”), it’s covered at the lowest default limit.
The Investigation (I Quoted Tackle Coverage)
I looked for the best way to insure $10k of gear.
Charter Lakes (Specialist)
- Offer: Designed for guides. Covers tackle specifically.
- Value: Replacement Cost (New for Old).
- Cost: ~$1.50 per $100 of value.
Progressive (Angler Package)
- Offer: You can add the “Fishing Equipment” endorsement.
- Limit: Up to $10,000.
- Requirement: Must keep receipts and photos.
State Farm (Homeowners)
- Offer: Personal Property coverage.
- Risk: High deductible ($1,000+) and rate hikes.
Comparison Table
| Policy | Gear Limit | Deductible | Replacement Cost? |
| Standard Boat Policy | $500 | Yes | No (Depreciated) |
| Fishing Endorsement | $10,000 | Low ( 100−100− 250) | Yes |
| Homeowners | Policy Limit | High ($1k+) | Yes |
Step-by-Step Action Plan
- Photograph Your Spread: Lay out all your rods and reels. Take a high-res photo.
- [IMAGE: Photo of fishing rods laid out on a deck with serial numbers visible]
- Keep Digital Receipts: Tackle shops email receipts now. Save them in a Google Drive folder.
- Add the Endorsement: Call your agent today. “I need to increase my Fishing Equipment coverage to $5,000.” It costs about $50/year.
- Lock it Up: Many policies require evidence of “Forced Entry” for theft claims. If you left them in open rod holders on an open dock, you might face a negligence fight.
FAQ
Are my lures covered?
Yes, usually in bulk. “100 lures @ $10 each.”
What if I drop a rod overboard?
That is “Accidental Loss.” If you have the endorsement, it’s covered. If not, it’s gone.