Over 35 Years Experience in The Yacht Insurance Business
Working as an Independent Agent & Underwriter, We Manage Yacht Insurance Programs from Start to Finish
Owning a yacht is a major investment, and you'll want to give your yacht the protection it deserves. Yacht insurance is one of the quickest and easiest ways to ensure that you and your yacht are protected. Here's what you need to know.
Florida Yacht Insurance Requirements
The state of Florida does not require yacht owners to maintain insurance to own and operate a boat, but that doesn't mean that you won't still need to have it. If you took out a loan to finance the purchase of your yacht, it is incredibly likely that your lender will require you to have insurance coverage until you have fully paid off the loan. In addition, many marinas require insurance as a condition of mooring your boat.
Even if you aren't expressly required to have yacht insurance, it is still a smart choice to have a policy in place. You spent a lot of money to purchase your yacht, and you want to protect that investment. If anything were to happen to your yacht while in the harbor or out on the water, you don't want to have to pay to cover the damages out of your own pocket. What's more, if anyone was injured in a boating accident, you could be stuck paying extensive medical bills for them as well.
Insurance You Can Count On
Our yacht insurance can cover the following and more:
- Equipment Insurance – This coverage pays for repairs to your yacht as a result of physical damage caused both on land and in the water. This policy covers the hull and machinery.
- Protection and indemnity – This liability coverage pays for injuries and property damage you may cause other people in the event of a yachting accident.
- Yacht Crew Health Insurance – This coverage allows you to take care of those who work on your vessel.
- Towing and Labor – If your boat breaks down, this covers the cost of towing and labor and the cost of delivering fuel, oil or a battery.
- Uninsured boaters' liability – Boat liability coverage is not mandatory; hence, some boaters are operating without liability coverage. Uninsured boaters' liability compensates you for injuries sustained as a result of another boater who has no liability coverage.
The Best Yacht Insurance Company in Florida
When you are ready to secure your investment in your yacht, you can count on our luxury yacht insurance company. Here at Florida Marine Insurance, we have been providing yacht and other types of watercraft insurance for more than 35 years. We have the experience and expertise to help you put together a policy that makes sense for your particular yacht and the ways you use it.
We welcome you to get in touch with us right away to learn more about luxury yacht insurance. We'll make sure that your policy meets the needs of your marina or lender, as well as your personal preferences. Reach out to our team today to learn more about your policy options and request a free, no-obligation price quote.
