Boat & Yacht Insurance Miami, FL

Just like your car, your boat or yacht is a very valuable asset that is exposed to a variety of risks that could result in significant damages. Boat owners need to have the right coverage in place to protect their investment.

Boat insurance offers the comprehensive protection you need to ensure you and your vessel are covered against common accidents and incidents. Contact FIB Insurance today to get a custom quote and learn more about boat and yacht insurance in Miami, FL.

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Why FIB?

FIB Insurance has over 20 years of experience working with residents in Miami, FL to help them find affordable boat insurance policies that protect their friends, families, and property from a variety of risks while enjoying their time out on the water.

Buying a boat is a significant investment, and if you don’t have a dedicated insurance policy, you’re leaving yourself vulnerable to any damages that could occur. Our experienced insurance agents will work with you to find a comprehensive policy that meets your coverage needs.

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What Does Boat & Yacht Insurance Cover?

Boat and yacht insurance policies typically include several standard coverages to protect boat owners from a variety of common hazards. Common covered risks include hazards like boat collisions, theft, storms, and fires.

This may include coverage for:

  • Boat damage
  • Boat or yacht replacement
  • Injury and property damage liability
  • Medical payments
  • Wreckage removal in the event of a covered accident

These policies can be customized to accommodate various types of watercrafts, including sailboats, fishing boats, powerboats, and more.

Boat & Yacht Insurance FAQs

Still have questions? Here’s what you need to know about boat and yacht insurance in Miami, FL.

How much does it cost?

Like auto insurance, boat insurance rates vary depending on several key factors, including:

  • Type of boat
  • Use cases (e.g., racing, recreation, etc.)
  • Storage conditions
  • Boat length
  • Claims history
  • And more

Your FIB Insurance agent will work with you to find an affordable policy that meets your coverage needs.

Is it required?

Boat insurance is not required in Florida to own or operate a watercraft. However, your lender will likely require you to purchase insurance to protect against damages to the boat if it is being used as collateral. If your boat is docked at a marina, you may also be required to have liability insurance. Even when not required, insurance is recommended to ensure you, your boat, and your passengers are protected against common accidents.

Does it include towing?

While specific coverages depend on your policy, most boat insurance policies do include boat towing assistance in case your boat becomes inoperable while on the water.

What is umbrella insurance?

Umbrella insurance is a type of policy designed to provide additional coverage that supplements your existing policies. If you are involved in a covered incident while operating your boat and the damages exceed your coverage limits, umbrella insurance may cover the difference.

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If you own a personal watercraft, insurance provides essential coverage that protects you against several common perils that could result in significant monetary damages. Contact FIB Insurance today to request a quote and learn more about boat and yacht insurance in Miami, FL.

Request A Quote

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