Boat Insurance

November 23, 2020

A watercraft is a boat or other vessel that travels on water such as fishing/bass boat, pontoon boat, power boat, sailboat, jet ski, etc. Purchasing boat insurance protects you from lawsuit by third parties if you cause damage to someone else’s boat or property. 

Boat insurance also covers physical damage to your boat if your boat is damaged during a collision with another boat or object. Accidents caused by forces of nature such as windstorms or hail are also covered in most policies. Typically, your boat insurance will cover you for a total loss if your boat is stolen, sinks or if destroyed by a fire.  

When purchasing boat insurance, it is important to understand how your boat will be covered in the event of a claim, “agreed value” or “book value”. Agreed value covers your boat for the stated amount of your boat at the time of a loss and may also include added boat equipment. Actual Cash Value covers your boat for the fair market value (depreciated amount) of your boat at the time of the loss.

Speak with one of our licensed insurance agents today to determine the appropriate boat insurance coverage that fits your needs.

Frequently Asked Questions About Umbrella Insurance

Are there discounts available for boat insurance?

Yes, typical discounts available include; multi-boat, responsible driver, boating safety course, and boat association member to name a few. Speak with one of our licensed insurance agents to understand the discounts that are available to you. 


How much is Boat Insurance?

The price for boat insurance depends on various factors such as the type of boat, location, boating history and prior claims. 

Is Boat insurance required in Florida?

We recommend that you refer to the Florida Fish and Wildlife Conservation Commission for boat insurance and registration laws.

Would Boat Insurance provide coverage for towing reimbursement if my boat breakdown from engine or mechanical failure?

Typically, there are options available in the boat insurance policy to purchase additional coverage for towing reimbursement.

Note: This article and FAQ’s above are general statements only. As always, we recommend that you speak with your licensed insurance agent to discuss quote options, coverage, or policy questions. 

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