Comprehensive Florida Boat Insurance Coverage

What Is Boat Insurance?

Boat insurance protects your watercraft, you, and your passengers from the financial consequences of accidents, damage, and liability. Whether you own a small fishing boat, a sailboat, or a yacht, this specialized coverage is designed for the unique risks of boating. Your policy protects your boat from physical damage, covers liability if you injure someone or damage property, and provides protection for your passengers and belongings while on the water.

Why You Need Boat Insurance

• Protects your significant investment in your boat from damage and theft
• Covers liability if you injure someone or damage another vessel
• Required by marinas and lenders if you finance your boat
• Pays medical expenses for you and your passengers after accidents
• Covers damage from storms, sinking, fire, and vandalism
• Provides salvage and wreckage removal coverage

Common Coverages in Your Boat Policy

Physical damage coverage protects your boat from collisions, storms, sinking, fire, theft, and vandalism. Liability coverage pays for injuries and property damage you cause to others. Medical payments coverage pays medical expenses for you and your passengers regardless of fault. Uninsured boater coverage protects you when you're hit by an uninsured or underinsured boater. Personal property coverage protects fishing equipment, water skis, diving gear, and other items you keep on your boat. On-water towing and assistance coverage helps when you experience mechanical problems or run out of fuel.

Special Considerations for Florida Boaters

Boating in Florida presents unique risks that affect your coverage needs. Hurricane season brings significant storm risk that can damage or destroy boats. Navigating busy waterways increases collision risk. Saltwater exposure accelerates wear and can affect your boat's value. Many boaters need coverage that extends beyond Florida waters into the Caribbean or Bahamas. The Gordon Agency understands these Florida-specific concerns and can help you select coverage that protects you wherever you navigate.

How Is My Boat Valued for Insurance Purposes?

Boats can be insured on an agreed value basis, where you and the insurer agree on your boat's value upfront, or actual cash value basis, which factors in depreciation. Agreed value coverage is typically better for boat owners because it eliminates disputes about your boat's worth after a total loss. Factors affecting your premium include your boat's value, type, age, how you use it, where you keep it, your boating experience, and your claims history. Our experienced agents can explain these options and help you choose the right coverage for your vessel.