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Watercraft & Boat Insurance in Fort Myers, FL

Whether you’re a seasoned sailor or a first-time boat owner, having the right insurance for your vessel is essential. Insurance is often necessary to safeguard your boat against the unexpected risks that come with being on the water.

How Much Boat Insurance Do I Need?

The specific types of boat insurance you need will depend on various factors, including your boat’s size and features, how you use it, and whether your local government, lender or marina has any particular coverage requirements.

Depending on your unique circumstances, your insurance agent may recommend the following coverage offerings, among others:

  • Liability coverage can help pay for third-party property damage or bodily injuries you cause while driving your boat and may cover legal fees resulting from such incidents.
  • Uninsured/underinsured coverage may help pay to repair or replace your boat if it’s involved in an accident with an at-fault person who doesn’t have appropriate insurance. This coverage can also help cover medical expenses for bodily injuries you may experience from these incidents.
  • Medical payments coverage may help cover medical expenses for you and your passengers if you are in an accident involving your boat, regardless of who’s at fault.

Some additional coverage options and policy features may include on-water assistance, special equipment (e.g., fishing gear) coverage, comprehensive coverage and collision coverage.

How Does Boat Insurance Work?

Boat insurance works similarly to other forms of coverage. When you purchase a boat insurance policy, you enter into an agreement with an insurance provider. In exchange for paying a premium, the provider agrees to provide financial protection for your boat against certain risks and perils.

In the event of a covered loss, you will need to file a claim with your insurance provider. The provider will then assess the claim, investigate the circumstances and determine the coverage and reimbursement amount based on your policy’s terms. It’s essential to review and understand your policy, including any deductibles, limits and exclusions, to ensure you have the appropriate coverage and know what to expect amid a claim. Your insurance agent can help in these matters.

How Much Does Boat Insurance Usually Cost?

Here are some factors that your insurance provider may consider when determining the cost of your boat insurance policy:

  • The type, size, age and value of your boat
  • Your boat’s usage and navigation area
  • Your coverage options, limits and deductible amount
  • Your boating experience and safety record
  • The location(s) where you store and operate your boat
  • Your claims history

How to Buy Boat Insurance

Wilcox Family Insurance is here to help you purchase the boat insurance you need. Contact us today to request a quote or learn more.

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