Wenrick Boat and Watercraft Insurance: A Passion for Insuring Your Beach Life

Boat & Watercraft Insurance: Coverage For Your Fellow Floridians

You have a responsibility to your water-faring neighbors, too. What would happen if you were found legally liable for an accident on the water involving damage to another’s person or property? Without adequate boat liability insurance, a cash judgment against you (along with associated legal fees) could easily force you into bankruptcy.

What Does Florida Boat Insurance Cover?

A typical boat insurance policy covers the most common risks associated with physical damage to your boat:

• Sinking
• Fire
• Storms
• Theft
• Collision

Typical boat insurance also covers damage to a range of boat-related items and property. Such property includes the boat itself and motor, along with the trailer used to haul the craft to water. Equipment permanently affixed to the boat is also routinely covered, along with anchors, oars, trolling motors, extra fuel tanks, tools, removable canopies, seat cushions, life jackets and preservers, skis and tow ropes, dinghies, and more.

Many boat insurance policies also cover labor costs for repairing and/or replacing your boat and associated equipment. And most policies provide basic liability coverage. Liability isn’t required by Florida law, but you risk losing everything without some degree of liability protection. Bodily Injury Liability is an important coverage when you're on the water. If you get into an accident and injure someone, this is the coverage that will protect you. It will pay for the other party’s medical expenses, lost wages, and pain and suffering. The cost for your legal defense can come out of this coverage amount. Wenrick Insurance can help you check your Florida boat insurance policy to make sure you have enough coverage to protect your assets.

Some boat and watercraft policies also cover damage done by uninsured boaters, akin to auto insurance. Uninsured Boater coverage protects you, your resident relatives, and occupants of an insured boat in the event of a bodily injury, including any resulting death sustained in an accident caused by the owner or operator of a boat that does not have insurance (Uninsured) to cover your injuries.

How Much Does Boat & Watercraft Insurance Cost?

Premium costs for a boat, jet skis, and watercraft policy will depend on the agreed-upon values of the policy, chosen deductibles, insurability, and other factors such as size, type, and cost of the boat. These limits can be extremely important in the event of severe damage or of a total loss, so it’s important to choose carefully. In this way, boat insurance is quite similar to other insurance policy types.