Florida's unique boating environment—hurricanes, year-round season, high traffic—makes insurance essential. Here's what coverage you really need.
Coverage Types
Hull Coverage
Covers physical damage to your boat from collision, grounding, fire, theft, and vandalism.
- Agreed Value: Pays full agreed amount in total loss (recommended)
- Actual Cash Value: Pays depreciated value
Liability Coverage
Covers damage or injury you cause to others. Florida has no minimum requirement, but $300,000-500,000 is recommended.
Medical Payments
Covers injuries to you and passengers regardless of fault.
Uninsured Boater
Covers you if hit by uninsured/underinsured boater.
Florida-Specific Considerations
Hurricane Coverage
Critical in Florida. Understand:
- Named storm deductible: Often 2-5% of hull value
- Haul-out requirements: Many policies require moving boat for storms
- Geographic limits: Coverage area during hurricane season
⚠️ Important
Review your hurricane haul-out requirements. Failure to comply can void your claim.
Navigation Limits
Most Florida policies cover coastal waters and Bahamas. Verify coverage for your cruising plans.
Cost Factors
- Boat value, age, and type
- Your boating experience
- Storage location and method
- Safety equipment and training
- Claims history
Typical Premiums
| Boat Value | Annual Premium |
|---|---|
| $20,000 | $300-600 |
| $50,000 | $600-1,200 |
| $100,000 | $1,000-2,500 |
| $250,000+ | $2,500-5,000+ |
Ways to Save
- Take boating safety course
- Bundle with home/auto insurance
- Install safety equipment
- Higher deductibles
- Pay annually vs. monthly
Factor insurance into your annual budget.
