Top 6 Most Common Types Of Florida Boat Insurance

If you are a Florida boat owner, you may be wondering if you need boat insurance and, if so, which kind. The fact is, you do well to protect your investment in your vessel and to shield yourself against potential liabilities from a boating accident through a boat policy – even if boat insurance isn’t legally required in our state.

No matter what type of vessel you have and regardless of other variables like how new/old your boat is, how valuable it is, where/how/when you plan to use it, and how much protection you want – you can customize a boat policy to fit your exact needs.

Nonetheless, it pays to be aware of the basic types of boat insurance out there. Here are the 6 most common kinds of insurance used to insure Floridian boats:

1. Small Water Craft
A “small boat” policy generally applies to smaller vessels like dingies and small-sized sailboats. If your vessel is valuable enough despite its small size, it might well be worth getting covered.

2. Sailboat Policies
Larger sailboats, up to 55 feet long, have special needs. Insurers usually offer a special type of policy for this type of boat, and it is common to further customize the policy based on exact boat-type and usage.

3. Power Boat Insurance
Powerboats and speed boats are very popular for cruising Florida’s many waterways. Given the high speeds at which they may travel and the relatively high cost of many of these boats, it only makes sense that additional liability and/or collision & comprehensive coverage is common on a powerboat policy.

4. Bass (Fishing) Boat Insurance
We have already looked in detail at bass boat insurance – which basically means any kind of fishing vessel. Aside from ordinary boat insurance features, bass boat policies typically include extra coverage for onboard fishing equipment like power poles and depth/fish finders.

5. Charter Boats
Both tourists and locals alike in Florida often lease or hire out charter boats on a short-term basis to go deep-sea fishing, cruise the coasts, or otherwise enjoy Floridian waters. The short-term and non-ownership nature of charter boat policies obviously makes them very unique.

6. Commercial Vessels
Anyone who uses a vessel for commercial purposes needs a commercial boat insurance policy. These policies differ from private policies just as commercial car insurance differs from ordinary auto insurance. Premiums will be higher due to the higher risk and greater usage, but coverage limits will be higher and coverage areas broader.

Choosing a boat insurance policy is a complex process. There are as many variables in policy selection as with car insurance, and the unique dangers that exist on the water and with each type of vessel require a fully customized approach.

Contact Flagler County (FL) Insurance Agency today to get started on customizing a boat insurance policy that exactly fits your needs and your budget!