Many Northeast Florida boat owners worry about the cost of boat insurance. In Florida, boat insurance is not required by law in Florida but the cost of not having adequate insurance can be potentially devastating. Also, it is important to note that most Florida marinas will often require proof of liability insurance.
Some people balk at the idea of purchasing separate boat insurance in Florida if their homeowner’s policies offer protection for boats and watercraft. However, that coverage is extremely limited and wholly inadequate to manage your risks.
Boat insurance coverage offers protection for a variety of events and problems. The following are among the incidents commonly covered with boat insurance protection:
You should discuss your coverage options and risk comfort levels with a trusted insurance agent so that you get sufficient insurance protection to make you comfortable actually using your boat. Don’t forget additional protection as well, such as medical payments, salvage insurance, liability insurance, personal property insurance, and more. Also, ask what your home insurance covers as far as personal effects on the boat. You might also need additional coverage to provide protection for specialized equipment you’ve added to your boat, your boat trailer, and damage done to your boat by uninsured boats.
Just as there are an infinite number of insurance protection options available for boat insurance, there are even more options available when it comes to the cost of boat insurance. No two boats or people are the same when it comes to your comfort level for insurance coverages and costs. These are a few of the factors that can impact the cost of insurance for your boat:
If you own a boat in Northeast Florida, now is the time to stop asking about the cost of boat insurance and find out for certain. Contact Bates Hewett & Floyd today to learn more.