One of the best parts of living in Florida is the luxury of having full access to the ocean. Spending the day out on the water is a favorite pastime of many Floridians. And although a boat or watercraft incident is less likely than an auto accident or home fire, incidents can and do occur. Excellence First Insurance helps you enjoy your time on the water without worrying about the financial consequences that could arise if an incident occurs.
What Does Boat & Watercraft Insurance Cover?
Boat & Watercraft insurance policies provide coverage similar to automobile insurance for sailboats, motorboats, and other personal watercraft vehicles. If your boat or personal watercraft is in an accident, stolen, or damaged by another covered peril like lightning or fire, a boat and watercraft insurance policy protects you from the resulting financial losses.
Types of Boat & Watercraft Insurance Coverage
There are many different types of boat and watercraft insurance coverage options and each policy varies based on your personal needs and use of your vessel. A typical boat and watercraft insurance policy provides the following four primary types of coverage:
Property Coverage
Property coverage helps pay for the costs of repairing your boat or watercraft if it is damaged in an accident or replacing your boat or watercraft if it is stolen. Property coverage in boat and watercraft insurance policies typically cover damages that occur both on land and in water.
Liability Coverage
Liability coverage pays for the costs of repairing or replacing the personal property of others that is damaged in an accident involving your boat or watercraft.
Medical Payments Coverage
Medical payments coverage helps pay for the medical bills you or your passengers obtain as a result of the injuries you sustain in a boat or watercraft accident.
Uninsured Watercraft Coverage
Uninsured watercraft coverage provides protection from the potential financial loss that can occur if you are in an accident with another boat or watercraft owned by someone who doesn’t have boat and watercraft insurance.
Additional Boat & Watercraft Insurance Coverage Options
There are also additional types of coverage you can add to expand the protections of your boat and watercraft insurance policy. Some of the most common options for additional boat and watercraft insurance coverage include:
• Boat accessories (such as anchors, depth finders, and horns and lights)
• Special equipment (such as fishing gear, scuba equipment, and non-attached GPS/navigation devices)
• Towing & trailer coverage
• Fuel spills and wreckage removal
The licensed insurance agents at Excellence First Insurance carefully review the details of your boat and watercraft insurance policy to ensure you understand the coverage you have. Contact us today to have one of our licensed agents help you find the coverage you need so you can enjoy your next day (or night) on the water!
Ready for your insurance review? Call or fill out the form below to request an appointment.
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