Boating season is upon us! In the heat of Florida summers, it’s a treat to take out the boat and spend the day on the water. Boating is a favorite recreational sport, according to 2010 data from the National Marine Manufacturers Association. Seventy-five million people in the U.S. participate in recreational boating annually. With all those boaters out there, there’s bound to be an accident or two – no matter how safe of a boater you are.
Though the state of Florida does not require boat insurance, that doesn't mean you don’t need it. If you have taken out a loan on a boat, the banks will often require that insurance be purchased for your boat. It’s not uncommon for marinas to need proof of insurance, too. So if you’re looking to store your boat, you likely won’t be able to unless you ’re covered.
Insurance is necessary for your safety (and the safety of others), too. Boats don’t have breaks. That being said, a collision on a boat can be extremely dangerous, especially if you are speeding. Not only will you be paying for the damage to your own vessel, but you can be paying out of pocket for damage to the other vessel – not to mention medical bills or legal fees.
There is a slight misconception that your homeowners insurance policy will cover a small portion of your boat. Unfortunately, this is not the case. In some homeowners insurance policies, there will be a minimal amount of coverage for really small boats with either no engine or a very small engine, like a sailboat. So unless you are using a sailboat, don’t count on your homeowners insurance policy to cover you.
A standard boat insurance policy is an all risk policy. This means you are covered for a variety of situations that can arise – vandalism, sinking, arson, grounding and lightning. You ’re covered!
If you want to learn more about boat insurance in Kissimmee or have questions about your current policy, reach out to us! We’re happy to be your go-to insurance agent in Central Florida.