Although it sounds extraneous, boat insurance is actually an important component that goes into the care of any water-bound vehicle, or most notably, a boat.
Any boat owner needs some type of boat insurance policy, even if they think they don’t need one. Insurance policies, in general, protect people against sudden accidents, liabilities and other situations that fall out of their control.
Insurance also helps cover payments for important things that simply improve one’s quality of life, most notably their health. So, boat insurance is important because it can protect a boat and the owner from various elements throughout the year.
Behind boat insurance
Boat insurance is a type of insurance policy that protects a boat and its owner, as mentioned, in the event of any type of loss. This type of insurance policy covers all motorized water vehicles, which can include fishing boats, jet skis and yachts.
Since this insurance policy mainly covers motorized water vehicles, boats and other water vehicles that aren’t motorized don’t have coverage. This includes water vehicles like canoes, kayaks and paddle boats. Some home insurance policies, however, do provide some coverage for the aforementioned non-motorized water vehicles.
The most standard coverage options for boat insurance are generally the following:
- Property damage and/or body injury liabilities.
- Uninsured boaters.
- Medical pay.
- Collision coverage.
- Comprehensive coverage.
Most, if not all boat insurance companies – especially in the state of Florida – will have some type of standard boat insurance policy using one or more of the aforementioned options. Many boat insurance companies in Florida are known to offer specialized coverage options, which can include the following:
- Total loss replacement. This replaces insured boats with brand new boats of similar quality.
- Replacement cost for fishing equipment and/or personal items. This generally replaces the aforementioned in the case of sudden losses. Fishing equipment may be insured up to $10,000, depending on the provider.
- Reduced deductibles. Some boat insurance providers may reduce their deductible by 25 percent for each claim-free renewal. This means that a boat insurance company will continue to reduce deductibles upon each successive year of no claims, or in other words, ‘good behavior.’
Many boat insurance providers in Florida also offer 24-hour roadside assistance, in addition to various emergency services in the case of any boating-related accident. Although specialized coverage options are a great add-on to any basic boat insurance policy, always check with your provider to make sure it’s the right policy for your purposes.
Why? There are many boat insurance providers in Florida who offer a myriad of different options for insurance policies. A ll of those policies aren’t going to fit what you’re looking for—not to mention, they’re likely to cost much more than you’re willing to pay. That’s why it’s important to, at least, do a bit of research to make sure that you and your boat are getting adequate enough coverage.
The right time and right season
People naturally assume that they need boat insurance at the right time or even during the right season of the year. So, such a sentiment only leads to the question of, ‘when does a sailor need boat insurance?’
The best time to get boat insurance during the year is, naturally, once warmer temperatures start proliferating throughout the area, most notably, near the largest body of water in your city or town in whatever state you live in. Florida is a natural home to several large bodies of water and equally large lapses of weather where it’s just mild enough outside to start boating as early as the early spring season.
So, when it’s warm, you’re going to need boat insurance. Though, when it’s cold – or, whenever it gets cold in Florida – you also need boat insurance. That’s right—you actually need to have boat insurance all year. Many insurance companies within Florida will actually suggest to you that, yes, you should purchase a year-round boat insurance policy. No, it’s not just about making you buy their product!
On and off the water
You’re always going to want to get a boat insurance policy when you’re, well, actually using your boat on the water. You need the policy to protect yourself and the boat from unexpected accidents and occurrences while out on the water. Thanks to that, getting boat insurance to insure your boat when on the water is very important.
Though, you also need boat insurance for when you and your boat aren’t on the water. This is naturally during times when the weather is simply too cold or too volatile to boat. Having boat insurance during the off season isn’t extraneous at all—it’s the exact opposite. As mentioned, many boat insurance providers will actually encourage you to get year-round insurance to keep you and your boat covered.
Even when you’re not boating, accidents when moving and/or transporting the boat, fixing the boat or even standing near the boat can make the off season more difficult to handle—if you’re not insured against it.
Before you even search for a good year-round boat insurance policy, always do enough research to make sure you’re getting a good deal for your money. You can even talk to your potential boat insurance provider to get an idea about how much you can potentially save—and just how much they’re willing to cover for your needs.
Of course, the best way to learn how to save money on boat insurance starts with using what’s known as an insurance quote.
Saving on boat insurance… the smart way
It’s easy enough to choose the ‘cheapest’ and ‘closest’ insurance policy that supposedly fits our needs for a good insurance policy. Most of the time, however, that couldn’t be further from the truth—and it’s no different for boat insurance, either.
Insurance quotes are a way to help people like you choose the right provider that carries insurance at favorable rates. Boat insurance is one of many insurance options that have readily available insurance quotes online. In fact, you can already search online for Florida boat insurance quotes from a variety of different insurance providers.
Some people might think it’s difficult to find ‘fair’ Florida boat insurance quotes on the web, though as long as you look, it’s not that hard to find something that’s good enough to fit your needs. Just don’t forget to talk to any potential boat insurance provider about the policy you’re interested in—and about what you can do to make it work best for you and your boat.