From Naples to Punta Gorda, boats, jet skis and personal watercraft are just as common as cars in Southwest Florida. While owners don’t think twice about “shopping” auto insurance, to ensure “smooth sailing” it’s also important to have boat insurance.

While Florida law does not mandate boat insurance, the state does require that boat and watercraft operators born on or after January 1, 1988, complete a boating safety education course, which may necessitate a minimum level of insurance. Although insurance is generally not required by state law, it’s important to note that individual marinas, lenders, and yacht clubs may have their own insurance requirements, and obtaining insurance is often a good practice to protect your investment and mitigate potential liabilities.

Owning a boat also comes with its fair share of risks. From unexpected accidents to natural disasters, boat  and watercraft insurance is a valuable asset and a wise investment for anyone who takes to the water. The peace of mind it offers, coupled with comprehensive coverage against accidents, theft, liability, and natural disasters, makes boat insurance an indispensable investment. Boat insurance can offer:

    • Financial Protection Against Accidents Regarding the HULL and Engines:

      • Boat insurance provides financial coverage in the event of accidents, collisions, or grounding. It ensures that repair or replacement costs are covered, minimizing the financial burden on the boat owner.

    • Coverage for Theft and Vandalism:

      • Boats are susceptible to theft and vandalism, especially when left unattended. Boat insurance offers protection against such crimes, providing compensation for the loss or damage incurred.

    • Liability Coverage:

      • Boat owners can be held liable for accidents that result in injury to others or damage to their property. Boat insurance includes liability coverage, offering financial protection and legal assistance in case the boat owner is sued for damages.

    • Protection Against Natural Disasters:

      • Natural disasters, such as hurricanes, storms, or flooding, can cause extensive damage to boats. Boat insurance covers losses resulting from these events.

    • Wreck Removal Coverage:

      • In the unfortunate event of a boat sinking or becoming a wreck, the cost of removal can be substantial. Boat insurance often includes coverage for wreck removal, helping boat owners comply with environmental regulations and preventing additional financial strain.

    • Personal Property Coverage:

      • Many boat insurance policies extend coverage to personal belongings on board. This includes items like fishing equipment, navigation devices, and other personal property. In case of loss or damage, the insurance helps in replacing these items.

    • Emergency Assistance and Towing Services:

      • Boat insurance frequently includes provisions for emergency assistance and towing services. This can be invaluable in situations where the boat breaks down or runs aground, ensuring prompt assistance and minimizing the risk of further damage. (Insert Safeco Example here?

    • Agreed Value Coverage:

      • Some boat insurance policies offer “agreed value” coverage, which means that in the event of a total loss, the insurer pays the agreed-upon value of the boat rather than its depreciated value. This ensures that boat owners can replace their lost vessel with a comparable one.

    • Peace of Mind for Chartering and Renting:

      • Boat insurance is essential not only for boat owners but also for those who charter or rent boats. It provides peace of mind to both the owner and the renter, covering potential damages and liabilities during the rental period.

With all of these coverages it’s important to have an agent that knows the differences, especially when it comes to Agreed Value VS Actual Cash Value (ACV). Contact an agent at Jones Family Insurance to protect and insure boat or watercraft investment. We’d be happy to provide a complimentary boat insurance quote.