Systems and methods are for monitoring underwater impacts to marine propulsion devices. The systems can comprise a marine propulsion device that is trimmable up and down about a trim axis; a trim sensor that senses at least one of a current trim position of the marine propulsion device relative to the trim axis and a rate at which the marine propulsion device is trimmed relative to the trim axis; and a controller that is configured to compare the rate at which the marine propulsion device is trimmed relative to the trim axis to a stored threshold value to thereby determine whether an underwater impact to the marine propulsion device has occurred.