You purchased a boat to provide years of personal enjoyment—ensure your pleasure by choosing the right insurance protection. (It’s important to note here that the State of Florida does NOT require insurance coverage for your boat or personal watercraft. But protecting your investment and your financial responsibility with Boat Owners’ insurance coverage is highly recommended.)
The Basics
A small boat, such as a canoe or other un-motorized boat, is typically covered under the personal property portion of your homeowners’ insurance policy. If you own a larger, faster boat, you’ll need a separate boatowners’ insurance policy. A typical boatowners’ insurance policy is designed to protect your boat, motor, equipment, and passengers. It affords similar coverages to those you typically have for your car, including:
- Physical Damage: Physical damage coverage insures your boat, motor, boat trailer, boat equipment (anchors, oars, fuel tanks, life jackets, dinghies, tools, etc.), and other personal property against theft, accidental loss, or damages.
- Liability: Two principal liability coverages are included:
- Personal Liability – A boatowners’ insurance policy provides protection for legal liability and pays, up to the limit of your policy, the legal obligations imposed upon you due to an accident resulting from the ownership, maintenance, or use of your watercraft, including bodily injury, property damage, and legal defense.
- Medical Payments– This pays medical expenses, up to the limits in the policy, including the insured’s boating-related medical expenses from an accident arising out of the ownership, maintenance or use of the boat.
Additional Coverage Options
For added protection, consider the following additional coverage options:
- Reasonable Repairs: Covers repairs incurred to protect covered property from further damage.
- Emergency Service: Pays for reasonable costs that you incur resulting from specified emergency service for your boat, motor, or boat trailer.
- Wreck Removal: Pays the reasonable expenses you incur for any attempted or actual raising, removal, or destruction of the wreck of your watercraft when damage is caused by an insured loss and removal or destruction is required by law.
- Umbrella Liability: Provides additional boat insurance coverage across the board for home, auto, and watercraft.
Top Ways to Save
- Running your boat on diesel fuel instead of gas reduces both your risk and insurance premium.
- Complete an approved safety course through the Coast Guard, U.S. Power Squadrons, Red Cross, or other state-administered course.
- Ask about our multi-policy discount.
Contact Bates Hewett & Floyd Insurance Agency for a quote today!
Disclaimer: This brochure is provided for informational purposes only. The information provided herein is not intended to be exhaustive, nor should it be construed as advice regarding coverage. Eligibility for coverage is not guaranteed and all coverages are limited to the terms and conditions contained in the applicable policy. © 2008, 2010, 2013, 2016 Zywave, Inc. All rights reserved.