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Boat Insurance

Florida has almost 2,000 miles of coastline and thousands of lakes. All of this water and our year-round boating season provides Floridians ample opportunity to get outdoors and on their boats! The population of Florida is also growing and boat ownership is increasing. More boats on the water mean more accidents involving boats. A proper boat insurance policy will protect you and your family if you are involved in an accident while on the water or while towing your boat to the ramp.

Boat insurance policies are structured similar to an auto insurance policy. They provide coverage for:

  • liability in case you are sued
  • physical damage to your boat from hurricanes and other causes
  • medical payments
  • coverage for uninsured boaters

Many policies also include specialized coverages for boats including:

  • towing coverage
  • fishing equipment coverage
  • pollution liability
  • trailer coverage
  • coverage for electronics
  • coverage for secondary motors

Boat owners use their vessels in different ways. The owner of a personal watercraft (Jet Ski) may only use the craft on the lake behind their house. The owner of a large sailboat may want to spend the summer cruising the Bahamas. Many bass boat owners participate in fishing tournaments and offshore boat owners may venture out into the deep Atlantic ocean in search of tasty pelagic species of fish.

It is important your agent understands what kind of watercraft you own and what its use is. Choosing an agent who will communicate with you to find out about the use of your boat will ensure that you have the proper insurance protection.

One Erb and Young client named William found out how important it was to work with an agent who understood his boat and the kind of physical damage coverage he needed. William’s agent worked with him to correctly value his boat and insure it on an agreed value policy. One night while he was sleeping the battery charger in Williams boat caught fire and his flats boat caught on fire. It was a total loss. The insurance company William’s agent chose was at the scene of the fire the next day and wrote him a check for the value that William and the insurance company agreed to. William was able to replace his boat and get back on the water in no time!