You may be a novice boater taking your boat out for the first time, or a seasoned veteran that has spent countless hours on the water. Regardless, InsureAnyBoat.com is here to navigate you through the ocean of boat insurance coverages. As Florida’s leading boat and yacht insurance provider in Jacksonville, we know boats and understand the essential elements required for the best coverage.
Two Basic Policy Sections
The first thing you need to realize is that boat insurance Jacksonville policies are broken down into two basic sections; namely liability and physical damage.
Liability section – This is also referred to as the “Protection and Indemnity” section and covers any legal obligations you may have to 3rd parties involved in a boating accident. Legal liability arises whenever someone is injured or loses their life; or there is damage done to another person’s property that resulted from the operation or ownership of your boat. It also helps you pay for any legal defense that may arise should you be sued for a policy-covered liability.
Physical damage section – This section of your boat or yacht insurance policy, in Jacksonville FL, covers the accidental damage to or loss of your boat or yacht. As well, it covers its equipment and machinery. Not only is the engine and the hull covered, other equipment that is required to operate the boat is also covered. For example, in the case of a sailboat this would mean that the sails are also covered.
Important Considerations
The following is a list of policy basics that will help you identify your specific insurance needs. After you’ve familiarized yourself with the material, we would be happy to provide boat or yacht insurance quotes for you in the Jacksonville area. These factors influence the type of coverage that will facilitate your specific insurance needs:
- Agreed value vs. market value – Although most marine insurance policies are based on the agreed value, you should still learn the difference between them. If your boat is destroyed, an agreed value policy will pay the predetermined, agreed upon value of it. Conversely, losses that are covered by market value policies are usually subject to depreciation. This is oftentimes referred to as an “actual cash value”
- Boat vs. yacht – From an insurance policy standpoint, boats measure 26’ in length or shorter, while yachts measure 27’ or longer. Policies oftentimes vary considerably. So, it is important to identify the type of vessel that you are insuring. It is best to get your watercraft evaluated before buying any insurance coverage.
- Commercial vs. personal use – Although the comparison here is quite simple, it will help you determine the type of policy needed if you can identify how your vessel is going to be used.
- Liability insurance – This coverage protects you when you damage property other than your own and are responsible for injuries to non-family members. You’ll determine the amount of liability coverage based on your personal situation.
- Medical coverage – Your Jacksonville boat or yacht insurance medical coverage will reimburse you for any medical expenses if people sustain bodily injuries that are attributed to your watercraft.
These are just five (5) of the basics that will help you get started determining the type of boat or yacht policy you need. An experienced representative from InsureAnyBoat.com will be happy to answer any additional questions you may have regarding policy coverage.
Why You Should Choose Us as Your Insurer
You’ll quickly discover that we aren’t like any other Jacksonville boat or yacht insurance company. We are a client-centered business that is focused on protecting your dreams, whether on land or on the water. Unlike an insurance company that can make purchasing boat or yacht insurance a challenge, we make it easy for you to buy the insurance coverage you need for your vessel. We’ll find the right policy for you and one that will fit within your budget parameters. Most importantly, we are totally focused on getting you out on the water as soon as possible.
For a Jacksonville boat or yacht insurance quote, contact InsureAnyBoat.com today at 1-800-585-1665. Our business representatives would be able to assist you with sorting through the different policies to get the right coverage within your budget.