Florida, being the sandbar that it is, is surrounded by water and millions of boats. Having boat insurance in Florida is essential to protecting your investment both in and out of the water.
Common boat insurance coverage includes the following:
1) Physical damage coverage – protection against damages from collisions, storms, theft, vandalism and fire. Policies can vary on what is all covered, some policies will cover the hull, motors and other equipment attached to the boat.
2) Liability coverage – having liability coverage protects you in the event you are responsible for damages or injuries to other people or property while operating your boat. Liability coverage is essential, as it can help pay for expenses related to medical bills, property repair or replacement or possibly legal fees if you are sued.
3) Medical payments coverage – regardless of who is at fault, having medical payments coverage will pay for medical expenses for injuries sustained in a boating accident.
4) Uninsured boater coverage – like uninsured motorist coverage in an auto policy, having uninsured boater coverage will protect you and your passengers if you are involved in an accident with another boater who doesn’t have any insurance or who doesn’t have sufficient insurance to cover the damages.
5) Wreckage removal – if your boat after an accident is considered a hazard to navigation in the waterways, you will be required to remove it. Some boat insurance policies offer coverage for the cost of removing and disposing of your boat. Having wreckage removal on your policy will cover the cost of this.
6) On-water towing and emergency services – in the event your boat breaks down in the water, some policies will offer coverage for towing your boat to shore.
7) Pollution liability – not usually an issue for small personal watercrafts or family boats, however, larger, commercial boat owners may consider adding pollution liability to their policy. Commercial boats have the potential for polluting the waterways or having an oil-spill. Having pollution liability coverage will pay for clean-up expenses.
These are some common types of coverage that can be included in a standard boat insurance policy. It is important to understand there are several things to consider when purchasing a boat policy. We highly recommend having a conversation with us so we can explain exclusions, deductibles, and policy limits.
If your boat is financed, your lender will most likely require you to have boat insurance. If you elect to dock your boat, most marinas will also require you to show proof of current boat insurance.
Yes! We highly recommend boat insurance for any body of water you are considering venturing to. Accidents happen no matter how careful you think you are. Other boaters, objects floating in the water, your guest(s) getting injured while on your boat, these are all reasons to have a good boat insurance policy. Protect yourself financially in the event an accident happens.
If you trailer your boat, we recommend having insurance coverage on the trailer. If you have an accident while towing your boat, depending on what property is damaged, your auto, homeowners or umbrella insurance policies may come into play. It’s important to have a discussion with a qualified boat insurance agent to help you understand what a boat insurance policy covers and what it does not cover. We would appreciate the opportunity to talk with you about your boat insurance needs.
We insure powerboats, jet skis, Sea-Doos, sailboats, pontoon boats, center console boats, bow riders, cabin cruisers, and yachts. Call our Altamonte Springs insurance agency today at 407-644-9991 for competitive rates on boat insurance.
Our office is conveniently located near Maitland Boulevard and I-4. We have helped Central Floridians with their boat insurance, auto insurance, homeowners insurance, RV insurance, and umbrella insurance policies for many years. We can help you too. Give us a call today!
-5.JPG)