Key Factors to Consider for Boat Insurance
Navigational Area
Make sure your policy covers the areas where you boat. Some carriers provide protection up to 75 miles from the U.S. coastline, into Canadian coastal or inland waters, and even into Mexico’s Pacific coastal waters. In Florida, coverage can often be expanded for additional areas.
Agreed Value Coverage
Boats depreciate over time. An actual cash value policy might make it difficult to replace a stolen or totaled boat. Agreed value coverage ensures that, in the event of a total loss, you receive the amount you insured your boat for, minus any deductible.
Liability
Like car insurance, boat insurance liability coverage protects you if you are at fault in an accident. It can help cover property damage, medical expenses, lost wages, and other costs for injured parties.
Medical Payment
Medical payments coverage helps pay for care needed after a boating accident. This applies to you, your passengers, and even water skiers or tubers, regardless of who caused the accident. Coverage can range from $500 to $10,000.
Physical Damage Coverage And Boat Insurance
This coverage helps repair or replace your boat, its motor, permanently attached equipment, and even your trailer if it is stolen or damaged.
Unisured/Underinsured Boaster Coverage
Many boaters skip insurance, but if you are hit by an uninsured or underinsured watercraft, this coverage pays for medical treatment, lost wages, and other expenses.
Fuel Spill Liability & Wreckage Removal
If your boat sinks or leaks oil/fuel, coverage ensures cleanup and compliance with environmental laws, which can be costly and time-consuming.
Personal Effects And Boat Insurance
Your policy can cover clothing, sporting equipment, fishing gear, and more. Limits vary by state. In Florida, personal effects coverage typically excludes jewelry, watches, and furs.
Unattached Equipment Coverage
Covers equipment not permanently attached to your boat, like anchors, water skis, oars, fire extinguishers, tarps, and lifesaving gear.
Emergencies And Boat Insurance
Provides coverage for towing, labor, and delivery of gas, oil, or a loaned battery if your boat is disabled on the water.
Every need is unique – contact us today to find out how to get boat insurance coverage that’s based on you.
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