Home » Boat Insurance
December 28, 2022
Brett Petruzzelli

Boat Insurance

Owning a boat is a big responsibility; being aware of your surroundings and other watercraft while on the water is necessary. Even if you strictly follow basic boating laws and regulations, accidents can seemingly occur out of nowhere. Boat insurance can protect you by limiting the cost you may have to pay out-of-pocket after an incident.

What Is Boat Insurance?

Boat insurance is a form of insurance that boat owners get to protect their craft financially on the water or in storage. As a policyholder, you pay your insurer a premium for coverage in return for financial assistance following a covered accident. Contact Wiglesworth-Rindom Insurance Agency to learn more about boat insurance basics.

What Does Boat Insurance Cover?

Policies vary among boat owners but generally tend to include coverage options such as:

  • Liability coverage helps cover expenses if your boat causes damage to another person’s property.
  • Bodily injury coverage helps insurance against damages or injuries to someone other than the boat owner and those covered under their policy.
  • Medical payments coverage helps cover medical expenses if you or a passenger gets injured on your boat.
  • Boat insurance property coverage helps protect your boat from various risks and potential incidents by covering costs related to incidents such as theft or vandalism.
  • Uninsured watercraft coverage helps cover expenses if an uninsured boater collides with you and causes injury to you or your passengers.

Some policies may be customized to include additional or alternative options.

Does My Homeowners Insurance Cover My Boat?

If you own a smaller, less-expensive craft, it may be covered under your homeowners insurance policy. However, larger and faster boats, such as yachts and speedboats, often require their own insurance policies. Be sure to reach out to your insurance provider before acquiring coverage to ensure you have the appropriate policy for you and your boat.

Do I Need Boat Insurance?

Boat insurance is not mandatory in Florida. Having coverage, though, is definitely worth considering. Boat accidents can be destructive and create significant financial issues. Paying for accident-related costs without a policy can often be difficult, which is why having boat insurance is crucial.

Learn More

If you are a boat owner near Stuart, Florida, the experienced agents at Wiglesworth-Rindom Insurance Agency can help guide you through the process of learning about boat insurance to help you select the right coverage for your boat.

To learn more, contact us today at 561-637-2424.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.

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