I question whether tow insurance is a good investment, at least not for a boat that is well maintained and reliable. I haven't had tow insurance since my trailer boat days (and those boats were not reliable so insurance at that time may have been worthwhile), and that was over 30 years ago. I also haven't needed a tow in all that time. I figure that the money I saved over the years, invested at an 8% return (and all of my marginal dollars are invested and my average return is higher than that, but not everyone has my investment opportunities) has a compounded value today of over $12K. Now, you might say that ignores tax, although I do favor sheltered and deferred tax investments, but even assuming I earned only 4% after tax on those saved dollars, it is still over $6K saved. Moreover, my boat policy provides tow coverage -- and much better coverage than Boat US, which basically limits coverage to something like 100 miles out of their covered ports. So, a breakdown at Cortez bank or most of the Mexican offshore banks would not be covered. My boat policy provides coverage throughout my nav limits, which is as far offshore as I want to go, and as far south as Panama, and Alaska in the Pacific (but not the Bering Sea). There is a deductible, but not too bad. And if I am going to break down, I hope it is during a real adventure, and not just a harbor cruise.
