Tampa Boat Insurance Coverage Fundamentals

The freedom of being out on the Tampa Bay water is incomparable for boat owners.  Whether you’re boating in a bay or the deep blue ocean, it feels as there are boundless possibilities. Don’t let this freedom allow you to forget about boat insurance. You have an obligation to your family as well as to other boaters to carry insurance that protects you and them from financial liabilities.

Here are some coverage and policy options to consider for when you decide to buy boat insurance, as not all policies are created equal.
Some things to consider include:

1. What nautical area do you need your insurance to cover?
2. Should you get coverage for oil spills? If your watercraft leaks oil then you are responsible for the cleanup costs even if you don’t have coverage.
3. Do you need coverage for the personal items on board?
4. Do you need coverage for equipment such as anchors, water skis and other unattached tools and recreational toys?

Next you need to clarify what you want covered in terms of value.
There are two choices here,

i. agreed value which is the amount you agree on -stated in the insurance policy, or

ii. actual value which is the actual value of your watercraft and may not be enough to replace it if there has been some deterioration.

How to keep your boat insurance policy affordable
Lastly, bear in mind that there are ways to lower your monthly premiums of your boat insurance. Official boat safety program training and certificates for such can be very useful in reducing your premiums. Similarly you can have the coast guard perform boat safety checks to reduce costs. Installing safety devices like a GPS and choosing a proper marina for docking your boat can also help.

Your boat insurance policy guarantees that you and your family will remain financially secure even after an expensive claim. It will also allow you to continue boating after a natural disaster or other insurable incident. Having the right policy will enhance that feeling freedom while you’re out on the water. Call us today to discuss your options for Tampa Boat Insurance at (813) 933-6691.