In Florida the beginning of May signals the beginning of the summer boating season. Soon summer vacation will be upon us, and with it, the humidity that plagues us. To escape the oppressive heat, many of us will flock to the beach – and for some lucky individuals, their boats.
In the insurance world getting coverage for your boat largely depends on the size and type of boat you own. The most important point to know about boat insurance is that like homeowners insurance it is vital that you have your boat covered. Your first call when looking for boat insurance should be to the company or agency that currently writes your car and homeowners insurance. Many car and homeowners insurance companies offer boat insurance that can be packaged with your existing policy to save you money. Be sure to ask if they allow you to suspend coverage for periods when you are not going to be using the boat. That can be in an important factor when you are deciding which policy to purchase. Why pay for insurance in the winter if you’re never going to take your boat out on to the water? That being said, if you choose this route it is extremely important that you do not use the boat without first calling your company or agent to reinstate coverage.
Your boat insurance policy needs to include liability in case someone is injured on your boat and in case your boat injures someone else. You will also need coverage for property damage in case your boat causes damage to docks or other boats and physical damage coverage for your boat if you hit something or someone hits you–this is very similar to your car insurance. There are many different types of coverage that can be added to provide more coverage for you and your boat while in use. Your local insurance agent will be able to guide you through these coverages and help you decide on what options are best for you and your family.