Watercraft & Boat Insurance

Watercraft & Boat Insurance Information

If you are contemplating purchasing a boat, you are going to want to make sure you can secure your investment from any hazards you may encounter on the water. Similar to any other vehicle, boats are at risk of accidents and you need to make sure you have the necessary boat insurance benefits to help you bounce back from any losses you may endure on the water.

Nolan Family Insurance is honored to be the preferred option for personalized insurance benefits in the Fort Meyers, Sarasota and Punta Gorda area. Unlike large, intimidating insurance companies, we strive to deliver our clients a simple and easy experience as we assist you in selecting customized, affordable benefits that will always be there when you need them. Our goal is for every client to walk out our doors with the satisfaction of having premier coverage to keep them safe in their day-to-day life.

To receive your own customized boat insurance policy, call us at (941) 639-1122 or request your free quote now!

Common Boat Insurance Questions:

Why Do I Need Boat Insurance?

Similar to cars, boats are also motorized vehicles. While you don’t operate boats on roads, the waterways have similar regulations including speed limits, traffic lanes and laws prohibiting drinking while boating. Due to this, whenever you take your boat out on the water, you face the same hazards and liabilities as you do when driving a vehicle on land. It is critical that you protect yourself and your property against the risk of expensive, unexpected challenges. If you are faced with a tragic event, boat insurance will aid in helping you get back on your feet.

What is Covered Under Boat Insurance?

Boat insurance includes a variety of different type of coverage, such as:

Physical Damage: This covers the boat and its attached fittings and fixtures from fire, theft, vandalism, wind, hail and collision.

Medical Payments: This covers medical expenses for the policyholder and their passengers after an accident.
Liability Insurance: This covers bodily injury and property damage the boater may cause to someone else in an accident.
Guest Passenger Liability Insurance: This covers expenses if a permissible passenger causes an accident while operating the boat.

Your plan can also contain a host of other benefits like:

Salvage Coverage

Pollution Liability Insurance
Tow Trailer Coverage
Agreed Value Insurance
Personal Effects Coverage
Fishing Equipment Coverage

How Much Boat Insurance Do I Need?

When starting your policy, our agents will assist you in selecting the level of coverage that best fits your needs. Our mission is to minimize your financial losses from any boating accident.

Therefore, consider each of these questions:

How much would it cost to buy a new boat if mine is totaled?
What activities will I be doing on my boat?
Will I need to insure people on the boat if they get injured in an accident?

If I get sued because I was at fault for a wreck, how will I pay for the damage?

Determining what policies best fit you needs can help you determine what the best answer is to these questions. Your agent can help you in personalizing it to fit your needs and activities as the best price point possible.

Is Boat Insurance Required?

Boat Insurance is typically not required unless you are operating commercially. However, if you decide to finance your boat when you purchase it, your lender may require you to purchase a minimal amount of physical damage coverage.

What Does Boat Insurance Cost?

Boat insurance rates may vary based on several factors, such as your:

Credit score
Claims/driving history
Value of the boat
Location

We completely understand that the cost of your boat insurance is important to you. Our team is committed to searching our network of carrier partners to put together the police benefits you desire, for a price you can afford. You can also bundle your boat insurance with your auto, home, or other personal insurance to maximize your overall savings.

Is Additional Protection Available?

These additional coverage options can provide more protection for your boat.

Reasonable repairs: Covers repairs incurred to protect your covered property from further damage.
Emergency service: Pays for reasonable costs that you incur resulting from specified emergency service to your boat, motor or boat trailer.
Wreck removal: Pays reasonable expenses sustained for any attempted or actual raising, removal or destruction of your boat from an insured loss, and your wreck removal is required by law.

Umbrella liability: Provides additional coverage for home, auto, and boat across the board.

What Is Watercraft Coverage?

Personal watercraft coverage (PWC) is another type of insurance, specifically for personal watercraft. This coverage is typically for motorized personal watercraft used for recreational sport, such as waterskiing, kneeboarding or tubing. These policies may also include water sports liability coverage.

This coverage may cover:

Bodily injury to yourself, another rider, or swimmer injured in your path

Property damage to items, such as docks, other PWCs or boats
Guest passenger liability
Medical payments
Theft of your PWC

How We Can Help

At Nolan Family Insurance, we can help you obtain insurance for your boating needs. Call us today at 941-639-1122 to get started.

Watercraft & Boat Insurance