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Florida Boaters, Get Answers to Your Boat Insurance Questions

Boating in Florida offers endless fun under the sun. While boating is a fun activity, it’s important to protect your investment with insurance. Getting insurance for your boat will also give you peace of mind. You might even have a few questions about boat insurance.

Here are some of the most frequently asked questions to help you learn everything you need for boat insurance in Florida.

What’s Covered by Boat Insurance?
Boat insurance typically will cover physical damage to your boat, motor, and trailer. This includes damage from accidents, theft, and vandalism. Liability coverage will help protect you if you are at fault in an accident that causes injury or damage to someone else’s property. Some policies may also cover equipment like fishing gear, life jackets, and other personal belongings on board.

Does Boat Insurance Cover Theft?
Yes, boat insurance generally covers theft. If your boat or any insured items are stolen, your insurance policy can cover the cost of replacement. Make sure to report the theft to the police and your insurance company as soon as possible. Keep records of your boat’s details, including the hull identification number, and photographs, which can help in the recovery and claims process.

How Do You Report a Boat Accident?
The first thing you need to do is make sure everyone is safe. Contact the local authorities to report the accident. Gather any information from other parties, including names, contact details, and insurance information. You also need to take photos of the damage. The last step is to notify your insurance company by providing them with all the details and documentation they require.

Does Boat Insurance Cover Storm Damage?
Florida’s weather can often be unpredictable. Most boat insurance policies cover storm damage, but it’s essential to understand the specifics of your policy. Some policies may have special requirements or higher deductibles for storm-related claims. Always secure your boat properly and follow any preventive measures recommended by your insurer to minimize potential damage.

Is Boat Insurance Mandatory in Florida?
While Florida doesn’t legally require boat insurance, it’s highly recommended. Marinas often require proof of insurance to dock your boat, and lenders may require it if you have a loan on your boat. Investing in boat insurance protects you financially from any accidents, theft, and natural disasters. An insurance agency can help you find affordable insurance.

How Are Boat Insurance Premiums Determined?
Several factors influence insurance premiums. These include the boat’s value, type, age, and size, as well as your boating experience and claims history. Where you use your boat also affects your premiums, with higher-risk areas like coastal regions potentially costing more. Adding safety features and taking boating safety courses can sometimes lower your premiums.

What Should You Do if Your Boat Sinks?
If your boat sinks, act quickly to minimize further damage. Report the incident to the authorities and your insurance company. Document the incident by taking photos and providing a detailed account of what happened. Your insurance policy may cover the costs associated with raising and repairing the boat, depending on the cause of the sinking and your coverage terms.

Are There Discounts Available for Boat Insurance?
Yes, many insurers offer discounts on boat insurance. These can include multi-policy discounts if you bundle your boat insurance with other policies. Safety equipment discounts are available if your boat has features like fire extinguishers, navigation systems, and anti-theft devices. Completing boating safety courses can also reduce your premiums.

What Is Not Covered by Boat Insurance?
Standard boat insurance policies usually exclude wear and tear, damage from marine life, and mechanical breakdowns. Intentional damage, illegal activities, and using your boat for commercial purposes without the proper coverage may also be excluded. Review your policy to understand the exclusions and consider additional coverage if necessary.

How Can You Lower Your Boat Insurance Costs?
You need to maintain a clean boating record and invest in safety features if you want to lower your boat insurance costs. Consider increasing your deductible if you want to reduce your premium. Always be sure to shop around and look at quotes from different insurers to find the best rates.

Need Boat Insurance? Contact Wellcovered Insurance!
Wellcovered Insurance can help you find the boat insurance to meet your needs. We also offer many other options, such as home, car, RV, professional liability, commercial property insurance, and much more.

Our values include staying helpful, over-communicating, taking action, defining any issues, and always finding the best solutions. We are also more than happy to answer all of your questions, and we take pride in staying active in the community.

Feel free to contact Wellcovered Insurance to learn more about your boat insurance options!