Boat owners insurance may not be a necessity in Florida, but that doesn’t mean you can necessarily do without it. You need to carry boat insurance to protect yourself against physical damage, liability, theft, and storm damage. Boat Insurance also protects you from losses including salvage, wreck removal, and pollution liability.
Protect Yourself from Litigation
Unfortunately, lawsuits are part of our culture. Without boat insurance covering liability, you leave your assets vulnerable and you put yourself in a precarious position.
If you take a friend out on your boat and encounter a large wake that slams them down against a hard seat and it turns out they’re injured, you could be sued and held liable for all the medical bills, payments for lost time from work, and more.
Your boat policy will provide a defense attorney to represent you in such a suit, and it will pay any damages you’re found to owe (up to the limit of the liability coverage).
What Does Boat Insurance Cover?
Depending on your policy, boat insurance is likely to cover:
- Damage caused by a collision that is your fault or the fault of an uninsured boater
- Bodily harm or property damage that you cause to another boater or watercraft
- Damaged or stolen equipment kept on your boat
- Towing of a disabled watercraft
- Damage that occurs in the water, in storage, or in transit
Protect Your Investment from Loss
Without insurance, you risk losing your investment to accidents or to any number of other events. A single strong storm can (and frequently does) sink boats, a fire in a nearby boat can burn your boat, or you could be the victim of vandalism. If you want to protect yourself and your investment, how do you buy the right insurance and avoid overpaying? Talk with an experienced independent insurance agent today to get the best coverage at the right price!
Ash Emrich 