Insuring your Boat in Florida

We at Bob Lancaster Insurance want to remind you that when purchasing or insuring your boat in Florida, remember that Florida insurance is different from insurance in other states for many reasons, like higher risk of storm and flood damage, and access to boating year-round. Here are some aspects of Florida boat insurance to keep in mind. Depending on a variety of factors, including the type of vessel you are operating and years of boating experience, the following may apply:

You may be required to move your boat outside of Florida during hurricane season.

Some carriers will require owners to be a full time resident of Florida, and not have any other property outside the state. Carriers want to make sure owners are with their boat at all times and are not absentee owners, because this represents an added risk for theft. In case of a hurricane, carriers want to make sure owners are able to get their boats to safety.

Companies may limit the length and value of the boat they are willing to insure to protect against shock losses.

Bahamas coverage may be included, or added at an additional cost.

Sailboat owners receive credit because sailboats are not as hazardous as speed boats.

Some carriers put an age minimum on insuring a boat, which is usually 20 years old.

A separate deductable may be required for a sailboat mast, especially if the mast is carbon fiber. Carbon fiber is lighter and stronger, but in the case of an accident it usually must be replaced completely.

Some carriers will not insure catamarans because if they capsize, they cannot be easily righted, like a sailboat.

An auxiliary motor in case of emergencies may be required or given a credit when rating sailboats.

Most carriers use a separate windstorm deductible in the event a boat is damaged during a named windstorm.

Boat Insurance in south Florida can be more costly due to a variety of factors, most importantly theft.

These restrictions are not representative of every carrier, however, so please contact us with any personal concerns. Florida boat ownership can be very rewarding, so insure your boat today and protect your investment for the future. For more information about boat insurance, contact an experienced agent at Bob Lancaster Insurance at 321-725-1620