Is Florida Boat Insurance Even Important?

In 2010, 914,535 boats were registered in Florida.  Florida still holds the number one spot for having the most boats in a single state, with Minnesota trailing behind.  

Even Though homeowners insurance is directed towards protecting your house, on some policies it can provide coverage for boats as well.  These policies generally will cover damage to $1,000.  Although $1,000 isn’t much regarding boat damage, it can also help if someone was injured by your boat, someone’s property was damaged by your boat, and even personal property you bring onto your boat.

Is Boat Insurance Like Auto Insurance?

Unlike auto insurance, boat insurance is not required by the state of Florida.  Not every registered boat holds insurance, though most do!  Many people think it is beneficial to invest in boat insurance just because of the what if’s that run through every boat owner’s mind.  Even if boat owners don’t believe it’s necessary, sometimes they have to purchase it anyways.  Marinas in Florida often require proof of insurance.  To pull a loan out with a boat as a collateral, insurance will often be required.  Florida holds an average boat price of $90,000.  Although some boats could be worth that or even less, Florida is known for having mind-blowing yachts.  Boats in Florida can easily go over $5,000,000!  Yes, 6 zeros.  Having an uninsured boat is similar to having a mansion with $0 of protection.  

Florida is Unpredictable

The risks of not having boat insurance aren’t something to joke about.  Florida’s insane weather can definitely do a negative number on your beloved boat.  Policies tend to now come with hurricane protection.  This policy will cover damage named-storms do to your vessel.

Boat Insurance Overview:

  • Will cover damage to your boat or personal property
  • Has liability protection to protect you incase your boat injures a person 
  • Will take care of the medical expenses that you face if your boat injures yourself or a visitor 
  • Will cover damages done by uninsured boats 
  • Will cover towing fees in the event your boat breaks down

Pay for What You Need

Florida boat insurance has so many parts to it, and it’s key you understand them.  Your policy will have dollar values associated with its parts, such as named-storm protection.  


Salvage Coverage- Covers cost of having to remove your boat from the water due to an issue.

Towing- Covers costs when your vessel needs towed across water. (Professional towing jobs can cost $400 a hour)

Cruising Extension- Covers damage done to your boat in other countries. (Boats in Florida commonly leave the US)

Consequential Coverage- Covers damages that occurs due to wear.

Specialized Coverage- Covers damage to specific parts. (Only found on some policies) 

Factors for Price

Boat insurance can be expensive, especially in Florida.  Boats in Florida can get used year around.  That means that Florida boats will tend to take more wear or damage in one year than other states.  Insurance prices have a lot of deciding factors, but the value of your vessel is definitely super important.  Insurance on a boat that is worth $20,000 is going to be cheaper than insurance for a boat that is worth $5,000,000.  In addition, cities in Florida see differences in pricing as well.  Although Jacksonville has the most boats registered in the state, it’s actually not the highest average insurance cost.

Specific Factors:

  • Boat age
  • Boat horsepower
  • Normal boating area 
  • Condition
  • Value 

Average Florida Boat Insurance Values

Insurance Type:Dollar Value Amount:Deductible: 
Medical Payments $5,000
Uninsured Boaters Liability $400,000
Towing Limit $1,000
Fishing Equipment $1,000$250

Boats Tend to Break More Often Than Cars 

Boats are not like cars!  Boat owners work and have activities that stop them from using their boats everyday, unlike cars.  Cars are always going to get used more than boats.  This means that mechanical issues can happen while you are away, making their outcome way worse than if you caught the issue while you were there.

Florida Boat Laws

To avoid fines, you need to be educated!  Florida has its requirements and laws regarding boats, just like any other state.  In order to drive a boat with more than 10 horsepower, you must complete a boating safety course and have that identification card on you at all times while you’re aboard your vessel.  Florida also sets laws just to say what must be on your boat.  Some things Florida requires on all vessels are fire extinguishers, floatation devices, stated lighting equipment, and a sound device.


Florida boat insurance is not cheap, but there are policies that are cheaper than others.  Before buying, take quotes from more than one company!  In fact, the best thing is to let a computer decide what fits you best. takes simple information from you and then decides what company and which of their policies best fits you.  Letting a computer search the top 30 insurance companies for quotes is the best decision you can ever make regarding the buying process.