You will definitely have trouble if you choose not to purchase Florida boat insurance. Just because Florida law does not require you to purchase a policy, doesn’t mean that you should feel comfortable going without it. Sometimes boaters do not have the option to go without coverage. If you had to take out a loan for your boat, you are required to purchase insurance coverage for it. Your lender mandates that you have taken proper steps to ensure that you are covered.
If you keep your boat in a marina or boatyard, they may also require customers to carry a policy as well. If you are a boater that wants to protect your investment and your passengers, then Florida boat insurance isn’t optional according to https://floridainsurancequotes.net/boat-insurance/florida-boating-trends/. No matter if it’s the law or not.
What Are the Legal Registration Requirements?
The state of Florida requires that all boaters register and title their boats. However, there are a few exceptions. Boats under 16 ft. and that does not have a motor, such as a sailboat or a rowboat, are exceptions. Unlike with a car, you are not required to show proof of insurance when you register or title a boat.
Florida is home to the nation’s highest number of registered boats. In addition, they are also home to the highest number of boating accidents. This reason alone should convince you to purchase Florida boat insurance.
What Types of Coverage Are Included in My Policy?
There are several types of coverage available to you. Below we will discuss each type of coverage option available. Be sure that you understand each type before proceeding to purchase a policy.
- Bodily Injury Liability is the first type of coverage. It is important coverage to have while you are out on the water. If you happen to get into an accident and injure someone, this coverage will protect you. It can help payout for the other party’s medical expenses, lost wages, and pain/suffering.
- Property Damage Liability coverage will protect you if you cause damages to someone else’s boat. This coverage also pays for the damage to other boats, properties, and structures.
- Uninsured boating coverage can protect you, your relatives, and the occupants of an insured boat in the event of bodily injury.
- Medical Payments will pay out for certain medical and funeral expenses. These will be paid out no matter who is at fault.
- Collision coverage provides protection against any damages done to your boat due to a collision with another object or animal.
- Comprehensive coverage can provide you protection for your boat in the event of a fire, theft, vandalism, and etc.
- You can also purchase personal property coverage in order to protect your belongings while they are on your boat. This coverage will also have a deductible of $250.
If you are looking to purchase a Florida boat insurance policy over at https://floridainsurancequotes.net/boat-insurance-quote, be sure to collect a quote. A quote can definitely help you find a policy that fits your budget. If you are on the fence about purchasing a policy just remember without coverage you can easily be financially drained just by one accident!