All Risk Insurance Group is Your Local Marine Insurance Agent!
The first thing you need to know about boat insurance in Florida is that it is not required by Florida Law. That said, it doesn’t mean you should for-go such a valuable coverage. Not required, but highly recommended. Here’s why:
When Do You Need Marine Insurance?
If you did obtain a loan to purchase your boat, the lender will have a lien on your vessel and require you to have your vessel insured. While your homeowners insurance policy may offer limited coverage for your boat or other watercraft and tends to be a maximum of around $1,000.
Why Insure Your Boat
If you plan to dock your boat in one of the many marinas in South Florida, such as Marina Delray in Delray Beach, it will be required that your boat, yacht or other marine vehicle is insured.They want you to show you have liability and damage insurance. Additionally, because of the high traffic in Florida’s waterways, the fact that Florida has a 5 month hurricane season and a large number of strong storms, the All Risk Insurance Group recommends you protect your boat and your other assets with an appropriate amount of insurance.
What Coverage Does a Boat Insurance Policy Provide?
The most important coverage a boat insurance policy provides is for damage to your boat or your personal property. Of course, most of these policies will have a deductible, but you will be covered for any major damage or loss.
Any good policy will include liability coverage. This will protect you in case there are any injuries to your guests or others involved in any mishap. You want to make sure any medical expenditures incurred by you or others are covered by your policy.
In the event you or others are involved in an incident with an uninsured boat owner, you want to have your policy cover you, your vessel and any of your passengers.
Lastly, should your vessel become stranded, you want to have towing coverage that will cover any charges for towing your boat back to a port.
All Risk Insurance Group – Experience and Understanding
Let the All Risk Insurance Group in Boca Raton be your go to boating insurance partner. We help boaters from Delray Beach to West Palm Beach, Davie to Deerfield with their insurance coverage. Our experienced and friendly agents will be happy to work with you to create coverage that will fit your needs and your budget.