Do You Need Boating Insurance in Florida?
In Florida, no law states that you need boating insurance to legally drive or own a boat. However, as the number one state for boating recreation, you will see more people on the waterways than in any other state. This means that there is a higher chance of getting into an accident with someone else, which is why most experts recommend getting insurance anyway.
New to Florida and ready to go boating? Bust out the lifejackets and fishing poles, it’s time to enjoy that beautiful weather! The number of people who own boats increases every year. Therefore, it’s normal to have lots of questions about what you need to legally own and navigate your boat – such as, do you need boating insurance?
Specific Zone Rules May Apply
Marinas often have specific requirements in Florida to house your boat. In order to fit their rules, you will probably need to get boating insurance. Another reason you may need to get insurance is if you financed your car through a lender and are seeking to move your boat with said car. Much like buying a car, many lenders require you to hold an insurance policy soon after buying a boat.
What Does Boating Insurance Cover?
There is almost no reason why you wouldn’t want to carry boating insurance. Just because there aren’t any Florida laws that state you must have it, that doesn’t mean it makes no sense to have. Here is a look at what boating insurance covers:
- Your passengers
- Damage to your boat or someone else’s
- Property damage
- If your boat was stolen or vandalized
- Some things within the boat (like specific equipment)
How Much Does Boating Insurance Cost?
This type of insurance is not typically expensive (about $1,000 a year). Depending on how your insurance company works, you might be eligible for certain discounts. However, due to the higher risk of storms and hurricanes, you’ll probably find that your rate is higher in Florida than in other states.
Another factor to beware of when trying to get a low rate is your deductible. The deductible could be a portion of the boat’s value or a set number. For questions about your specific insurance policy, we always recommend talking with an insurance agent for the best advice.
What Requirements are There?
While there aren’t any requirements for boating insurance, there are laws that state you must hold a valid boating safety ID to drive your boat in Florida if it’s over 10 horsepower. To get your safety card, complete a boater safety class either online or in-person. The great thing about this card is that you never have to get it renewed.
Before operating your boat, be sure to get it registered and titled within 30 days of purchase. Much like the process of getting your car registered, you’ll need to go to a licensing office and apply with the correct paperwork. You must keep this information in your boat at all times as well as the decals provided to you, which are to be placed on the side of your boat.
Where Can I Store My Boat in Florida?
Many people enjoy using a marina to keep their boats safe. As previously mentioned, they often have certain rules to abide by. Usually, the most convenient place to store your boat is at a place like Lighthouse Point Yacht Club. This is a great way to save time transporting your boat or yacht back and forth from your private home. Plus, you get all the perks of belonging to a yacht club.