Boat/Watercraft Insurance in Florida
Owning a boat in Florida comes with many great memories, including cruising on the lake and fishing on the rivers. But unfortunately, boating comes with lots of risks. From accidents, theft, vandalism to natural calamities, boaters need boat insurance to protect their investment. If you need watercraft insurance in Panama City Beach, FL, please talk to Hall Insurance for reliable coverage.
Types of watercraft coverage
When shopping for boat insurance in Florida, you are likely to come across the below types:
- Liability coverage:: If your boat is involved in an accident and caused damage to other people's property, the liability coverage helps pay for the resulting costs. This coverage also covers medical expenses for injuries caused to third parties.
- Collision coverage: If your boat got damaged in an accident, this policy would help pay for the repairs or replacement if a total loss.
- Comprehensive coverage: Covers your boat against non-collision perils like theft, falling objects, fire, vandalism, and certain natural calamities.
- Medical payments coverage: The coverage pays for medical bills if you or your passengers got injured in an accident.
- Uninsured watercraft coverage: What if your boat collided with an uninsured watercraft and you or your passengers got injured? Well, this coverage may help pay the resulting expenses.
While boat insurance isn't mandatory in Florida, it's wise to consider this investment. Boat insurance ensures that you don't dip into your pockets when the unexpected strikes.
Other additional coverages
Boat insurance has additional protections depending on your need. It would be best if you engaged an insurance agent to understand such coverages like:
- Towing coverage
- Special equipment like fishing gear
- Boat accessories
- Boat trailers
- Emergency assistance
- Wreckage removal
Boat insurance cost factors
The cost of your boat insurance depends on several factors. The common ones being:
- The number of coverages picked
- Type and size of your boat
- Cruising/boating area
- Where you store the boat