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Space Coast Insurance: Sunnier Shores for Boat and Watercraft Coverage

Keep Your Finances ‘Afloat’ with
Proper Boat Insurance

If you’re a conscientious driver, you wouldn’t dream of taking the road without proper car insurance. If you own a boat or other watercraft, setting out on the water without adequate boat insurance is just as dicey.

Boat ownership entails its own unique risks and liabilities. As a responsible boater, you want to be sure you’ve got sufficient coverage to protect yourself, your family, your property and your investments.

You’ve got responsibilities to other boaters, too. What would happen, for instance, if you were found legally liable for an accident on the water? What if said accident involved damage to another person’s property or physical wellbeing? Without proper boat liability insurance, a settlement against you could drive you into bankruptcy.

Boat Insurance- Space Coast Insurance of Florida

Does Florida Law Require Boat Insurance?

The quick, simple answer to this question is “no.” However, Florida law isn’t the only factor to consider. For example, if an owner purchases his/her boat on loan, the lender will probably require boat insurance. Likewise, if the owner stores the boat at a marina or boatyard, said facility might require that a minimum level of boat insurance be maintained.

One final reason to carry boat insurance? It just makes sense. Safeguarding your passengers and other boaters with proper boat insurance is, simply stated, the right thing to do. And ask yourself this: Even if you purchased your boat or watercraft with cash, could you afford to toss that money out and buy a comparable replacement if something happened?

How Much Does Boat Insurance Cost?

Similar to the way other policy types work, premium rates for boats and other watercraft will depend on the agreed-upon values of the policy, the policyholder’s chosen deductibles, the level of insurability risk, and other factors. It’s important to carefully choose deductibles, because in the event of severe damage or of total loss, this is the amount the policyholder will pay before insurance payments kick in.

What Does Boat Insurance Cover?

Standard boat insurance covers common risks associated with physical damage to a boat or other watercraft:

  • Sinking
  • Fire
  • Storms
  • Theft
  • Collision

Standard boat policies also cover damage to a range of items associated with boating. Such items includes the boat itself and the motor. This list also includes the trailer used to haul the craft to water, along with equipment permanently affixed to the boat. Most standard policies also extend coverage to anchors, oars, trolling motors, extra fuel tanks, tools, removable canopies, seat cushions, life jackets and preservers, skis and tow ropes, dinghies, and more.

If the boat owner should need professional repair work on the boat, many boat insurance policies will cover the associated labor costs, and will even pay to replace the boat and related equipment. Most watercraft policies provide basic liability coverages, too. In the State of Florida, liability coverage isn’t required by law, but watercraft owners risk losing everything without some level of liability insurance.

Discounted Boat Insurance with Multiple Policies

If you purchase boat insurance through Space Coast, you may qualify for discounted rates if you carry existing other policies with us. Ask us about discounted boat insurance when bundling it with other policies.

For a Free Boat Insurance Quote, Contact Space Coast Insurance Agency, LLC

With comprehensive boat insurance policy from Space Coast, you’ll be shielding yourself and your family against unexpected misfortune on the waves. If you’re shopping for boat insurance along Florida’s Space Coast, we’d like to hear from you. As an independent insurance agency in Melbourne, Florida, we partner with numerous insurance carriers. This means you can leave the shopping around to us, saving you time and money!

We watch out for our customers like family, and we’d be thrilled to speak with you about Space Coast boat insurance and to answer all your questions. For a free online boat and watercraft insurance quote, click here. Or you can call Space Coast Insurance Agency directly at 321-799-2929. We look forward to speaking with you!