Florida Boat Insurance - A Guide to Boat, Marine and Yacht Insurance in Florida
Boating is a popular sport in Florida, yet many people
go out on the water without insurance for their craft. You wouldn't drive without
protection from an insurance policy, so why go out boating without one? Florida
Boat insurance lets you enjoy the water without worrying about the cost of
replacing your boat or paying any liability costs associated with an accident.
Getting boat insurance is much like getting auto insurance. However, in Florida,
there's one thing you need to worry about when insuring your boat that people
in most other states get to ignore. Florida is commonly threatened by hurricanes.
Many insurance companies only offer limited protection for your boat against
hurricane damage unless you specifically arrange for that protection. Make
sure that your policy will cover storm damage if you're planning to store or
use your boat in Florida during hurricane season.
Another concern about living in a state with frequent
storms is the way you'll be compensated if your boat is lost. There are two
kinds of boat insurance plans – actual value and agreed value. An actual value plan will only
pay you for the market value of any goods lost in an accident or storm. This
means that a 6 year old boat will only be paid for as a 6 year old boat – including
depreciation. Agreed value plans, on the other hand, will allow you to replace
your lost possessions and craft. This kind of insurance pays for a value agreed
upon by you and your insurer. Agreed value plans are much smarter in areas
where you might suddenly lose the whole craft to a freak storm.
There are a number of important questions to ask your agent when you look
for boat insurance in Florida. These include whether or not your personal possessions
will be covered, whether your policy is actual value or agreed value, whether
you will pay lower rates if the craft is in dry dock, if you can get a discount
for having taken a safe boating course, and what your hurricane coverage is.
It's also a good idea to find out if towing and salvage are covered by your
insurer, or if you will have to pay these expenses out of pocket if stranded.
Getting boat insurance in Florida is a good idea if you want to make sure
that you're protected from accidents and storms. A boat is a big investment
for most people, and hard to replace. Protect that investment by keeping it
insured. You can find quotes for boat insurance in Florida online, or by calling
an agent. You might even be able to get boat insurance through your regular
auto or homeowners insurance provider. This can be a great way to get a bit
of a discount on your boat insurance, as many companies offer multiple plan
incentives. Look into Florida boat insurance today, and protect your craft.