It is not uncommon for Florida residents to own a boat, and to wonder if they should get boat insurance.

Florida has more opportunities for boaters than many other places in the world. Spending a day on the water is a great way to relax and soak up the sun while bonding with family and friends. As of 2011, Florida law does not mandate insurance for recreational boats; however, you can sail into trouble if you don’t insure your boat to cover property damage or injuries.

Your boat is not covered under your car or homeowners policy. While your homeowners policy may offer minimal protection in some instances, it won’t provide the kind of coverage you need on the water, especially if you’ll be operating a large powerboat. Boat insurance helps protect you and your family from the risks of owning and operating a boat. It is ideal to insure your boat against damage and loss caused by common risks such as sinking, fire, storms, theft, and collision.

Florida boaters shopping for a policy need to check the type of coverage and conditions the policy sets for coverage. Since Florida law does not require insurance, you are free to tailor a boat policy to meet your individualized needs. Liability policies help protect your assets and financial well-being if you are found legally responsible for causing property damage or injury to other people while operating your vessel. In most cases, it includes coverage for bodily injury, property damage, medical payments, and legal expenses. There are a lot of boat operators who do not have insurance. Some policies help pay for injuries you, your family or anyone on your boat sustain due to an accident with an uninsured boater. If you wreck your boat, your boat insurance can help to repair or replace it so you can get back to boating again quickly.

Before you purchase a boat policy, it is a good idea to talk to an insurance representative who can help you determine your boat insurance needs and explain your coverage options. Things to consider and discuss with your agent include:

• What are the basic coverages required by my lender, if financed?
• Will I be able to afford to pay my deductible and expenses above my policy limits in the event of a loss?
• How much would it cost to replace or repair my boat, its furniture, fixtures, and electronic equipment in the event of a loss?
• Do I frequently take people out on my boat?
• Do I have special features on my boat that might need extra protection?
• Where do I store my boat when it’s not in use?
• How do I transport my boat?
• Where do I plan to use my boat?
• Do I qualify for any discounts on my premium?

Once you purchase a boat insurance policy, it is essential to review your coverage needs with your insurance representative on an annual basis, or whenever there is a significant change in the status of your boat or its use (e.g., you renovate your boat or change its storage location), to ensure your policy fits your needs and budget.

Get a boat insurance quote today. Make sure your boat and everyone in it are adequately protected, so you don’t have to worry when you’re out on the water with family and friends. Contact McLain, Pierce & Associates online, or call us directly at 407-323-8142. We have access to multiple carriers and can find the most affordable Florida boat insurance rates.