Boat/Watercraft Insurance in Florida

Boat insurance can be described as an insurance policy that covers either your boat or your watercraft in case it is damaged or stolen. The coverage can also protect the boat owner if they damage another person’s property or a person is injured. If you own a boat in Florida, it is essential to know what each policy covers.

Property coverage

With property coverage, your boat or watercraft is protected from many risks. If you have an accident and your boat is damaged, the insurance company will help pay for the repairs. If it is stolen, the insurance company will help replace it.

Liability coverage

Liability coverage will come into play if you happen to damage another person’s boat or property. It also helps cover expenses if another person is injured.

Medical payments coverage

Suppose you have a passenger on board when you have an accident. If you do not have insurance coverage, you would have to dig into your bank account to get money to pay for the medical expenses. However, with medical payments coverage, you do not have to worry about medical costs. The insurance company will help cover hospital bills, x-rays, and medications among others.

Uninsured watercraft coverage

Many boat owners are not aware that they can acquire insurance to cover their boat leaving them without any form of insurance. If by bad luck your vessel collides with theirs, and yourself or a passenger in your boat gets injured, with uninsured watercraft coverage, the insurance company will cover the expenses.

Comprehensive coverage

With comprehensive coverage, the insurance company will compensate you if the boat is stolen, damaged, vandalized. They will cover your boat up to its market value and not over the market value.

If you are in Florida and you are shopping around for boat insurance, contact B & G Insurance to have all your questions answered. Consider walking into our offices in Miami, FL to speak with an agent and get a quote.