Everything you need to know about boat, yacht and personal watercraft insurance.
Fort Lauderdale is often referred to as the Venice of Americas. With all of these boats puttering around our waterways it is important to get a clear understanding of personal watercraft insurance, boat insurance and yacht insurance.
While all three insurances appear to be the same, they each cover a different entity and have varying policies.
- Personal Watercraft insurance covers jet skis and waver runners.
- Boat Insurance covers vessels generally under 26 feet.
- Yacht insurance cover larger vessels 27’ and larger.
Let’s dive into each category:
Personal Watercraft
Jet Ski’s, Waverunner’s and See-Doo’s are inboard engine crafts that are covered by Personal Watercraft Insurance, also known as PWCs. While these part boat/part motorcycles are extremely fun, they also can be extremely dangerous. Personal Watercraft Insurance will cover almost anything under the sun, from damage to another craft or dock, bodily injuries and towing assistance if you break down on the water. It is important to speak with your insurance agent to get an understanding as to what is included and excluded in your policy.
Personal Watercraft Insurance can be broken up into two common types, a stand up PWC and a Sit-down. A stand up personal watercraft insures a rider who stands or knells.
Sit-down, allows the rider to sit or stand. This insurance also takes into account that these watercrafts usually carry 2-4 people and have the ability to tow skiers and wake boarders.
Boat Insurance
The only thing better than a day out on the water, is a day out on the water knowing you and your boat are taken care of. Boat Insurance covers “smaller” vessels, often 26 feet or smaller. This includes risk coverage such as sinking, fire, storms, capsizing, collision and theft as well as property coverage such as anchors, oars, and extra fuel tanks. If you or someone else is injured on your boat, boat liability insurance coverage is also available to protect you from medical expenses, property damage and legal ramifications.
Once again, we advise you to speak with your insurance agent to discuss the details of your plan.
Yacht Insurance
Yacht Insurance tends to be broader and more specialized due to the length and location of travels. Similar to boat insurance, yacht insurance can cover collision damage, property damage, and bodily injury liability.
Overall, Florida law does not make insurance mandatory for recreational boats as of 2011. However, if you took out a loan to buy the boat, the lender is likely to require insurance.
For the safety of you, your boat and your passengers, Pettineo Insurance Agency highly recommends the purchase of some type of boaters insurance.
As an agency located in Lauderdale-by-the-Sea we are incredibly familiar with this industry and can answer any questions you may have. Contact us by phone, 854-493-9424 or our website http://pettineoinsurance.com/contact_us.html
Pettineo Insurance Agency Inc provides boat insurance, yacht insurance, & personal watercraft insurance in Fort Lauderdale, Lauderdale-By-The Sea, Pompano Beach, Oakland Park, Boca Raton, Hollywood, Coral Springs, Tamarac, Sunrise, Hollywood, and all of South Florida.
