Watercraft & Boat Insurance

So, you’ve just bought a boat. Living in Florida almost always entails the ownership of some type of watercraft. Before you dip your boat into the water, however, it is of the utmost importance that you invest in watercraft and boat insurance. If you don’t, one simple accident could lead to losing your boat and much more.

Boat insurance can be a bit confusing, but don’t let this get you down. One of the simplest ways to understand it is to first realize there are various coverage packages that you can invest in. By assessing your boating habits, you will be well on your way to choosing the most appropriate policy.

Keep in mind, you don’t want to skimp out on a good insurance policy. If you do, saving a few dollars could result in the ruining of your bank account, as well as the loss of your new boat. For example, if you have a boating accident that hurts one of your passengers and your policy doesn’t fully cover the medical expenses, you would then be liable to pay for them.

There are many aspects of boat insurance that need to looked for when searching for a policy. From coverage amounts to what is and is not covered, you will want to speak with an insurance specialist to ensure you get a policy that meets your wants and needs. Never should you opt for a policy that you don’t feel comfortable with. Four of the most important reasons to purchase a policy include:

• Pollution coverage: In the event that your boat sinks and leaks pollutants in the water, you will need coverage to pay for the clean up.
• Removal coverage: If your boat sinks, you will need coverage to pay for removal expenses.
• Fire coverage: If your boat catches on fire, you will need coverage to pay for the boat and any damage that it causes.
• By law, if your boat is moored at a port, you have to have insurance.

Your boat is probably one of your more expensive assets. Make sure you properly protect it by having a good watercraft and boat insurance plan.