boat insurance

Boat & Watercraft Insurance

What Does Boat Insurance Include?

Being a Florida resident means you are probably familiar with the coastal lifestyle, or may even own a boat. Being a boat owner comes with a lot of responsibility, and protecting your investment is the first step. At Synergy, we will find you comprehensive protection that protects you, your friends and family, your watercraft, and your boating equipment. Rest assured knowing that Synergy can help make your time on the water relaxed and worry-free.

While boat insurance isn’t required in Florida, it’s definitely something a boat owner should take into account. The average boat costs less than a dollar a day to insure! Because boat insurance is optional, your policy can be highly customizable.

  • Personal liability insurance: If you are found to be at fault for an accident, liability insurance can cover costs related to bodily injury and property damage suffered by others in a boating accident.
  • Boat coverage: Boat maintenance and repairs can cost a lot of money, and boat coverage can help get your boat fixed after it has been damaged. The three basic types of coverage are collision, comprehensive, and on-water towing.
  • Medical coverage: This coverage can help with costs related to injuries you may suffer in a boat crash. Always check your health insurance policy before considering additional medical coverage. You may find that your health insurance provides more than adequate coverage for boat-related injuries.

Do you know what to look for in a boat insurance policy? Synergy is here to help you determine the right amount of coverage to meet your specific needs.

What do I need to consider when buying boat insurance?

  • Navigational area: Know where you are covered in the water. In Florida, coverage for additional areas can be purchased.
  • Agreed value coverage: Watercrafts depreciate just like cars. Actual cash value policies can make it difficult to replace a boat that has been stolen or destroyed. This means that if your boat is a total loss you will get the value you insured it for, minus any deductible.
  • Liability: Personal liability insurance provides coverage to other boaters and boat owners in the event you are at-fault for an accident on the water
  • Medical payments: Medical payments coverage will pay for the cost of needed care that is the result of a boating accident. This coverage is available from $500 to $10,000 and covers you, your passengers, and even your water skiers/tubers, regardless of who is at-fault.
  • Physical damage coverage: Physical damage coverage pays for the cost to repair or replace your watercraft, its motor, any permanently attached equipment, and your trailer if it is stolen or damaged.
  • Uninsured/Underinsured watercraft bodily injury: Since boat insurance is not always mandatory, many boaters choose not to get insurance. If you are hit by an uninsured or underinsured boater and you are injured, this type of coverage pays for medical treatment, lost wages, and other costs associated with the accident.
  • Fuel spill liability and wreckage removal: Should your boat sink or be seriously damaged, there is a chance that it could leak oil or fuel into the water. As the boat’s owner, you are required by law to have this cleaned up, which can be time consuming and expensive.
  • Unattached equipment coverage: This pays to repair or replace equipment that isn’t permanently attached to your boat or personal watercraft, but is designed for use primarily on a boat. This includes items like lifesaving equipment, water skis, anchors, oars, fire extinguishers, tarps, etc.
  • Emergency assistance: The Emergency Assistance Package provides coverage for towing, labor and delivery of gas, oil or loaned battery if the watercraft is disabled while on the water.

Before you run into any troubled waters, let Synergy protect you, your boat and your livelihood. Give us a call today, and let us help you find the perfect boat insurance coverage.

Get A Boat Insurance Quote