Importance and Benefits of Boat Insurance

boat insurance

Though boat accidents don’t occur as often as auto accidents, the importance of having boat insurance in Fort Myers cannot be overstated. Just as you protect your car, it’s necessary to protect your marine vessel – it’s one of the biggest investments you’ll ever make!

Benefits of Boat Insurance

Here are some of the top benefits that come with being protected by boat insurance:

  • Your boat isn’t covered by your homeowners policy.

Some boat owners think that their homeowners coverage extends to their boat – and while that may be true up to a small amount ($1,000-$1,500), you need a standalone boat policy in order to get full coverage.

  • It might be required.

If you’ve financed your boat instead of buying it outright, boat insurance is probably required by your lender. Marinas might also require you to obtain boat insurance in order to dock with them.

  • It protects your investment.

Your boat is at risk for a number of things – whether that’s getting damaged from a storm, a fire, vandalism, or theft. Boat insurance allows you to protect your investment should the worst occur.

  • You can protect yourself.

If you injure a passenger, a swimmer, or damage another boat while using your own, you are liable for the cost of bodily injury and medical procedures. You might also face litigation. Even if you aren’t held liable in the end, the costs can add up quickly – and paying out of pocket can be a considerable amount.

  • You protect your passengers.

If you allow another person to use your boat, they are automatically covered by your insurance – and so are the passengers. If anyone sustains an injury while boating, medical costs and lost wages will be covered by insurance.

  • You can protect the environment.

If your boat gets severely damaged and leaks fuel and oil into the water, or if it sinks to the bottom of the ocean or a lake, it’s your responsibility to pay for removal and/or cleanup. But if you have coverage that includes wreckage removal and fuel spill, the costs will be covered by insurance.

Protecting Your Boat

Boating is one of the most popular and most entertaining pastimes in Florida, which is why it’s so important to have boat insurance in Fort Myers. Contact Lott & Gaylor insurance today, and we’ll help you find a policy that covers everything your boat needs.



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