Florida Boat Insurance

Get a full analysis of Florida boat insurance costs, coverage, companies, & requirements.

Christine Lacagnina Written by Christine Lacagnina
Christine Lacagnina
Written by Christine Lacagnina

Christine Lacagnina has written thousands of insurance-based articles for TrustedChoice.com by authoring consumable, understandable content.

Reviewer: Jeffrey Green Reviewed by Jeffrey Green
Reviewer: Jeffrey Green
Reviewed by Jeffrey Green

Jeff Green has held a variety of sales and management roles at life insurance companies, Wall street firms, and distribution organizations over his 40-year career.  He was previously Finra 7,24,66 registered and held life insurance licenses in multiple states. He is a graduate of Stony Brook University.

Miami marina at sunset. Find Florida Boat Insurance.

Find the Best Boat Insurance Options in Florida

With more than 1,300 miles of coastline and numerous lakes and rivers, it probably comes as no surprise that boating is very popular in Florida. With more than 1 million registered vessels, this state is home to more boat owners than any other in the nation. If you're among them, you may want to consider buying boat insurance.

In most cases, boat insurance isn't mandatory in Florida. However, it can be wise to purchase coverage if you've invested a lot of money in your boat or if you plan on enjoying a lot of time on the water. 

A local Florida independent insurance agent can help you find the best and most affordable policy. First, though, here's an overview of Florida boat insurance.

Is Boat Insurance Required in Florida?

Perhaps you've been asking, "Do you need boat insurance in Florida?" Even though Florida doesn't mandate boat insurance by state law, so it's not technically required, there are a lot of reasons why most boat owners will want to consider having coverage. 

First, if you finance your boat, it's more likely than not that your lender will require you to provide proof of boat insurance. Also, if you dock your boat at a marina, you'll likely be required to at least carry boat liability insurance to protect against lawsuits related to property damage or bodily injury claims from third parties. 

What Does Florida Boat Insurance Cover?

Several different forms of boat insurance are available to cover many different types of boats. There are boat insurance policies designed for motorized boats, which can be on the pricier end, and less expensive policies designed for non-motorized vessels. 

Basically, you can find a suitable policy to cover any kind of boat, including:

Boat insurance providers typically include, at a minimum, liability insurance and property insurance as a standard part of their coverage. They also offer a variety of coverage options for you to choose from so you can tailor your policy to meet your specific needs. 

A solid boat insurance policy often includes the following:

  • Boat liability insurance: This provides coverage for third-party injuries and personal property damage if you get sued for a collision on the water.
  • Medical payments insurance: This can cover the treatment of injuries sustained by you and your passengers if you get hurt in a boating collision, regardless of fault.
  • Physical damage insurance: This covers the cost to repair or replace your boat if it gets damaged or destroyed in a boating accident, regardless of fault.
  • Comprehensive insurance: This covers the cost to repair or replace your boat if it gets damaged or destroyed in a non-collision event like a hurricane, tornado, or property crime.
  • Underinsured/uninsured boaters insurance: This can cover damage to your boat and the treatment of injuries sustained by you and your passengers after a collision caused by a boater who doesn't carry enough insurance of their own to pay for their portion of the damages.
  • Equipment insurance: This can cover loss or damage to gear equipment such as water skis, towables, or fishing gear that you keep on your boat.
  • Fuel spill/wreckage cleanup: This insurance can cover expenses related to the removal of your vessel from the water after a collision, as well as remediation costs if the accident involved a chemical spill.

If you've purchased your boat with a loan, the financer will most likely require you to carry insurance on the vessel until the loan is paid off. Additionally, if you use the vessel for commercial purposes in Florida, such as chartered fishing, you'll likely be required to have commercial boat insurance.

How Much Does Boat Insurance Cost in Florida?

The average cost of boat insurance in Florida is about $652 annually or about $54.33 monthly. This is quite a bit more expensive than most other states, where premiums average $344 annually. However, depending on your boat's type, value, and other factors, you could pay anywhere between $200 and $1,000 or more for your boat insurance each year.

Factors that Affect Florida Boat Insurance Premiums

Florida is one of the most expensive states for boat insurance. You can often expect to pay at least several hundred dollars annually for a policy. Your actual rates may be higher or lower than the state's average premium based on these factors:

  • Your boat's type, model, length, and engine size
  • Your boat's current value
  • Where your boat is stored when not in use
  • How often you use your boat
  • Your driving record (both on and off the water)
  • Whether you and/or members of your household have completed a boating safety course
  • The types and amounts of coverage you want
  • Your preferred deductible

The best way to find out exactly how much a boat insurance policy will cost you is by working together with an independent insurance agent in Florida. These agents can shop and compare quotes for Florida boat insurance from several different carriers for you, ultimately finding you the best rate.

Florida Boat Insurance Discounts

Just like many other insurance policies, there are a few incentives that can help Florida boaters save money on their policies. Here are just a handful of the most common boat insurance discounts available in Florida:

  • New customer discounts
  • Multi-policy discounts
  • Loyalty discounts
  • Safety course discounts
  • Security system discounts
  • Good driver discounts
  • Good credit discounts

The discounts offered on Florida boat insurance can vary from one insurer to the next, so be sure to ask about them when requesting quotes. Your Florida independent insurance agent can also do this for you. They won't let you miss out on any savings you qualify for.


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How to Get a Florida Boat Insurance Quote

When shopping for boat insurance, having a knowledgeable professional by your side can be extremely helpful. Independent insurance agents in Florida can help you get equipped with the proper boat insurance coverage at a great price. 

These agents can discuss your coverage options, suggest discounts or policy changes, and even help you file a claim or update your coverage down the road. The Sunshine State has thousands of independent insurance agents ready to help you. Find a Florida independent insurance agent near you to start comparing customized boat insurance quotes.

Florida Boat Insurance FAQ

What your Florida boat insurance covers depends on the specific types of protection you select to go into your policy. You'll need a boat insurance policy that includes at least liability coverage and property damage coverage. A Florida independent insurance agent can help you build the right boat insurance policy for your needs.

Though you're not legally required by Florida state law to have boat insurance, you may be required to carry coverage if you're financing your boat or you dock it at a marina. A marina will almost always require boaters to have at least liability insurance to protect them, and lenders often require boaters to provide proof of boat insurance up front.

The average cost of boat insurance in Florida is about $652 annually or about $54.33 monthly. Rates in Florida are higher than in many other states, but a local independent insurance agent can help you find affordable coverage in your area. The cost of your policy also depends on a number of factors like the type and value of boat you have.

Our research found Progressive to be the best boat insurance company in Florida. Progressive is known to offer affordable rates and numerous coverage options to benefit boaters more than other carriers. 

If you cause an accident while towing your boat, your boat insurance policy could cover the cost of treating injuries to yourself, your passengers, and third parties. It can also cover property damage to your own boat and property belonging to a third party. Work with a Florida independent insurance agent to ensure your boat insurance policy includes all the right coverage to protect you in case of a towing accident.

Yes, Florida independent insurance agents are available and ready to help you find the boat insurance you need from a top-rated local carrier. Independent insurance agents work hard to find you quality coverage at the most affordable rate. They'll shop and compare boat insurance quotes from a number of different Florida carriers for you. And down the road, they'll be there to help you file boat insurance claims or update your coverage as needed.

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