What's Included in a Boat Owner's Insurance Policy?

Living in Southwest Florida has many advantages. One of the biggest advantages is having the luxury to boat in beautiful waters. No matter if you live in Cape Coral, Fort Myers or any of the other beautiful boating havens on the Southwest Gulf Coast of Florida, if you have a boat, it needs to be protected. Whether your boat is tied up to the dock or on your trailer, it needs to be covered. A boat insurance policy can protect you against many risks of owning and using your boat. When you are out on the water, there’s a chance something could go wrong. With boat insurance, when you’re in the boat, you and your passengers are covered.

What is covered with boat insurance?

Medical Payments Coverage

If you or someone in your household gets injured on your boat, this coverage helps take care of the medical expenses. You and your passengers are covered when you are in the boat, as well as water-skiers being pulled behind the boat.

Your Boat

Boat insurance typically extends to your boat, the motor and the trailer. Whether you are storing it, hauling it, launching it or driving it on the water, it is covered. Boat insurance also covers vandalism, wind, hail, lighting, fire and explosion damage.


Let’s face it, accidents happen. Watercraft Liability Coverage covers you if you or someone in your household has a boating or jet ski accident that includes damaging a dock, damaging another boat or if you injure someone else including swimmers or water-skiers.

Equipment and Accessories

Ever think about the cost of replacing everything on your boat? When you get Physical Damage coverage, your anchor, life jackets, navigation aids, and anything else that helps you operate the boat are covered for up to 10 percent of the watercraft’s value.

Emergency Service

We have all seen the boat being pulled back home by the tow boat and then breathed a sigh of relief that it wasn’t us. Sooner or later, chances are it will be you, and without Emergency Service Coverage, that tow won’t be cheap. $100 of Emergency Service Coverage is included with any boat that has Physical Damage Coverage. It can also cover labor costs at the place you break down or for a mechanic, or to have fuel, oil or a battery delivered.

Wreck Removal

If your watercraft is destroyed it has to get out of the water. Boat insurance will typically cover up to an additional 5 percent of your Physical Damage coverage limit for the raising, removal or destruction of the boat.

Discounts Available

Everyone is looking for a way to save a few dollars these days, especially in an area as hard hit by the economy as Southwest Florida. However, don’t take a chance on leaving yourself unprotected by opting out of having boat insurance. There are a variety of options available to get discounts:

Multiple Policies

If your auto insurance is with Allstate, you could save money on your boat insurance.

New Boats

The newer the boat, the more your discount can be.

Boater Education

Not only is taking a boaters safety course a good idea, it will give you a discount. For the course to count, it must be sponsored by an approved organization. An approved organization would be the US Coast Guard Auxiliary or the United States Power Squadrons. A state course is also acceptable if it is approved by the NASBLA and recognized by the US Coast Guard.

Diesel Engine

The Diesel Engine Discount could save you on the cost of your Physical Damage coverage just for having a boat or jet ski powered by a diesel engine.

Automatic Fire Extinguisher

Don’t assume that fire isn’t a real danger on your boat or watercraft just because you are floating on water. A fire on board your boat could destroy it. If you have an automatic fire suppression system installed on your watercraft, you can save on annual premiums.

 It is a good idea to maintain an inventory of everything that you have on your boat. Complete the Boat Inventory list and keep it in a safe place.