Do I need Florida boat insurance?

Do I need Florida boat insurance?

Florida boat owners, be aware!

If you own a boat or watercraft, it is better to be safe than sorry, says Evelyn Calabuch, President of American US Insurance, an Independent FL Insurance Agency, based in Boca Raton. When shopping for boat insurance you will notice is not so different than when appplying for  car insurance. The guidelines may differ when quoting a boat risk, but the idea is about the same. Boat insurance will protect you and your assets against losses incurred while operating and transporting your boat or watercraft. Most boat and watercraft insurance policies include coverage for the boat itself, the engines, the trailer and most important, your financial responsibility.

When you star the process is always better to go with the same insurance company insuring your vehicles. Since you will have multiple policies, you will qualify for a better price by just having another line of business insured with them. That process is called cross-selling and your discount is called multi policy discount. Most insurance companies will also give additional discounts to people who have successfully completed a boating safety course. So, it may be a good idea if you enter in one of the safety courses available and take advantage of the savings.

Using online resources is a great way to start. Call reputable companies and contact the agents personally to check all your options. Make sure the agent submits your online quote to different carriers, always going for the best price, but don't forget about having good protection. It is always better to pay a little extra but having better coverage. At the end you pay for insurance to be properly protected should a loss arise.

What type of coverage you need?

You should be protected against losses caused by sinking, fire, storms, theft, capsizing, stranding, collision, and explosion. The policy should cover anchors, oars, trolling motors, fuel tanks, seat cushions, skis, tow ropes, dinghies, tools, canopies, life preservers, and any equipment that is permanently attached to the boat.

Among the different types of coverage, you will find watercraft liability, medical payments, uninsured boaters, newly acquired watercraft coverage, coverage for repairs, coverage for emergency services, and coverage for wreck removal. In most states, the liability coverage entails Watercraft Liability and Watercraft Medical Payments.

Watercraft liability will protect you in the event of an accident that results from the ownership, maintenance or use of your boat. It should include bodily injury, property damage coverage and even legal defense coverage. It should also protect anyone who drives your boat, if they were legally allowed to drive the vessel and enlisted on your policy.

Watercraft Medical payments coverage will pay medical expenses up to a specific limit for you and the occupants of your boat in the event of a loss.

Other types of coverage are usually voluntary but should be strongly considered. There is quite a bit that can happen when you transport or operate a watercraft and legally protecting yourself and your assets it is a priority! 

Once again, know what you want in terms of coverage before you talk to a Florida licensed agent, and make sure that you get the proper coverage you need. 

For any questions you may have regarding Boat Insurance and it’s options, contact American US Insurance and one of our licensed representative will help you.

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