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What does boat insurance cover? 

A Florida state boat insurance policy is very similar to car insurance in terms of the coverage it provides. Both policies provide liability and property damage coverage in case of an accident.

Depending on your boat insurance company and policy, this may include the following:

  • Property damage to your boat and/or marine equipment, including the hull, machinery, fittings, furnishings, and permanently attached equipment

  • Loss of your boat due to theft, fire, or other covered perils

  • Personal effects coverage for personal items you bring on your boat like cell phones, cameras, and clothing

  • Liability incurred by your boat hitting another boat, a dock, or a swimmer

  • Tubing, water skiing, wakeboarding, and other water sports 

  • Medical expenses for injury to you and passengers as a result of a boating accident

  • Injury to you or your passengers caused by a negligent uninsured boater

  • Fuel spill liability and wreckage removal

  • Emergency assistance like towing and delivery of gas

  • Mechanical breakdown 

Many boat insurance companies allow you to protect your boat based on a Total Loss Replacement, or Agreed Value, or Actual Cash Value or basis.

Total Loss Replacement replaces your boat with a brand new one of similar make and quality. Not all boats are eligible.

If you protect your vessel based on Agreed Value, you have declared the boat’s value at the time you purchase the insurance policy. In case of a total loss, you will receive the agreed-upon insured amount without a deduction for depreciation.

Actual Cash Value protects your boat based on its market value at the time of loss, which may include a deduction for depreciation of the boat’s value according to its age or condition.

The type of coverage required depends on your needs and boating habits. Our boat insurance agents can customize a policy to your unique situation.