Suppose they are lucky enough to live in Florida and have a boat longer than twenty-seven-foot. In that case, they need to educate themselves on protecting their investment. Buying Florida yacht insurance is not the same as boat insurance in Florida. While there are some similarities, there are some differences that they should be aware of when seeking out coverage.
How Much Florida Yacht Insurance Do Sailors Need?
One of the main things they need to establish upfront is the value of their yacht. In addition, the replacement cost is essential because if they file a claim, they want to receive the correct replacement value. When the underwriter determines the value of their yacht, they consider many things, including:
- The age of the craft.
- The condition of the boat.
- The size of the vessel.
- The number of bedrooms.
- The number of bathrooms.
- The value of the appliances.
Make sure that the carrier establishes an acceptable value. If not, they may be unable to replace the yacht in a catastrophic accident. Yacht insurance in Florida includes bodily injury coverage. Therefore, bodily injury protects them if they are injured while on their boat. In addition, Florida yacht insurance protects them […]