If anyone lives in Florida, they have probably been on a boat. The question is, were they protected while enjoying the day on the water? Unfortunately, the average consumer often overlooks Florida’s boat insurance because most owners do not realize they need protection. This type of coverage applies to all kinds of motorized water-based vehicles. These include fishing boats, yachts, jet skis, and pontoon boats. Boat insurance Florida helmspeople love is protection that accepts liability for the passengers and provides them with peace of mind.
Most boat insurance policies do not cover small watercraft like canoes, kayaks, and paddleboats. However, some homeowners’ policies may protect them. Boat insurance is necessary for all avid boat owners in states like Florida, where boating is relatively standard.
Boat insurance Florida residents can afford.
Many policies have both standard and specialized coverage for motorized boats. All boat insurance policies cover:
- Personal and property damages.
- Uninsured boaters and water vehicles.
- Medical pay.
- Comprehensive and collision needs.
Although carriers apply these coverage options to standard policies, some companies offer specialized boat insurance Florida boaters need. These options are now available at Florida Insurance Quotes. Specialized coverage options can include:
- 24-hour roadside assistance – covers trailers and other tow vehicles.
- Emergency towing and labor – provides on-water towing services.
- Wreckage removal coverage – covers the removal, raising, and wreckage of damaged insured boats.
- Replacement cost personal equipment – insured the policyholder’s possessions, including clothes and electronics.
- Total loss replacement – replaces an insured ship with a similar one.
- Disappearing deductibles – reduces a deductible by 25 percent at each claim-free renewal.
- Replacement costs fishing equipment – insures up to $10,000 for fishing tackles, rods, and steels.
Carriers designed boat insurance in Florida to protect the boat and the owner. Boat owners should talk with an agent with Florida Insurance Quotes about the options that may benefit their craft and lifestyle. Talking to an agent about policies can ensure that the assigned contract does not cost too much for extraneous features.
Why even bother with it?
People who own watercraft need boat insurance. Florida helmspersons can count on it. Many companies, including Allstate, Geico, The Hanover Insurance Group, State Farm, and Travelers, offer boat owners various forms of boat insurance. The available range of policies already addresses people who need boat insurance, but is there a reason they need such policies?
Most boat owners need boat insurance because many homeowners’ insurance policies will not cover them. Suppose carriers value their craft at over $10,000, as an example. In that case, they fail to meet the criteria for water vehicle coverage through a standard homeowners’ insurance policy.
However, small boats with a small or lack of engine are usually eligible for a small amount of coverage on a homeowners’ insurance policy. Thanks to this, most medium and large boats are suitable for their own ‘unique’ insurance policy. In that respect, boats are much like cars since they transport people from place to place.
Homeowners can, however, actually save money on their home, auto, and boat insurance by bundling them together. These cost-effective insurance policy options are usually applied when purchasing said policies or based on criteria defining a home, car, or boat.
How is boat insurance in Florida different from other insurance types?
Boat insurance has its own set of rules and criteria for policyholders. It does, however, hold some similarities with many home and auto insurance policies.
- Florida home insurance covers the owner for liability if an accident injures the passenger on the vehicle. This coverage usually results in a replacement cost or cash value for its total loss.
- Florida auto insurance covers bodily injuries caused by the boat, property damage caused by the vessel, and self-inflicted damage to the ship. Many carriers also allow owners to purchase comprehensive coverage against theft, vandalism, fires, floods, and personal property.
When compared to both, however, there is a distinct difference. Boat insurance in Florida may allow owners to suspend coverage for specific periods when not using their craft. Suspend coverage means that an owner could pause their protection during the winter months. Then, they would reactivate it once the spring and summer months arrived. However, many Florida boat insurance policies naturally make coverage available throughout most of the year.
How to save money with Florida Insurance Quotes?
Most Florida boat insurance providers will cover water vessels and vehicles, such as personal watercraft, small to mid-sized charter/pleasure boats, commercial boats/fishers boats, houseboats, and yachts. Twenty-seven feet is the magic number for most carriers. Anything over will require Florida yacht insurance. Anything over one hundred feet is considered very rare.
Thanks to this, owners have several options for coverage. What about their possibilities when saving money on a Florida boat insurance policy?
The best way to save for a Florida boat insurance policy is by shopping around at different insurance policy providers. However, besides shopping around, other factors can affect how much a prospective boat insurance policy costs:
- Deductibles. Raising or lowering deductibles can affect an insurance premium. The higher a deductible gets, the lower the monthly bill becomes. Always check with an agent to see if the savings are worth the out-of-pocket expenses.
- Type and condition. Older boats, as an example, get less viable insurance options. In comparison, newer ships are more prone to more robust coverage options. A downside to these ‘healthy’ insurance options is that these boats will cost more to insure.
- Location. Florida is naturally home to many waterfronts, so the insurance reflects that fact. In addition, large cities and coastal communities naturally host more expensive insurance options than smaller cities. So naturally, residents can shop around in their area for the best coverage for their needs.
In closing, boat insurance Florida residents love is just as important as securing any other type of insurance policy in the state. People with boats should always consider getting a quote from Florida Insurance Quotes for their water-bound vehicles.