How Does Boat Insurance Work in Florida?

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Florida is renowned for its extensive coastlines and myriad waterways, making it a prime location for boating enthusiasts. Whether you’re enjoying the serene waters of the Intracoastal Waterway or the vibrant Miami beach scenes, understanding how boat insurance works in Florida is essential for every boat owner.

Read on to explore the types of boat insurance available and the requirements specific to Florida. A boating injury lawyer at Aigen Injury Law can help you determine who is responsible for covering injuries in the event of a boating accident.

Types of Boat Insurance Available

Boat insurance can vary widely in terms of coverage, but two main types are generally available. The following types of insurance can help pay for various damages in a collision:

  • Liability Insurance: This is the most crucial insurance for boat owners. It covers the costs associated with damage or injuries that you and/or your boat cause to others. This includes damage to other boats, docks, and structures and injuries to other people. Liability coverage does not cover injuries to you or damage to your boat.
  • Physical Damage Insurance: This covers the boat itself. It will provide compensation for damages to your boat due to accidents, vandalism, and natural disasters. Coverage typically includes the hull, machinery, fittings, furnishings, and permanently attached equipment.

Additional coverages can also be added on, such as:

  • Medical Payments: This covers medical expenses for you and your passengers, regardless of fault, up to a specified limit.
  • Uninsured/Underinsured Watercraft: Similar to uninsured/underinsured auto insurance, this coverage protects you if you’re involved in an accident with a boat that is not insured or is underinsured. It pays for all damages, medical bills, lost wages, and other losses.
  • Personal Property: This coverage helps you replace damaged items not permanently attached to the boat, like fishing gear and safety equipment.
  • Towing and Assistance: If your boat becomes disabled on the water, this coverage will pay for towing and labor costs incurred.

Boat Insurance Requirements in Florida

Unlike auto insurance, Florida does not legally require boat owners to have insurance. However, certain marinas in Florida may require proof of liability insurance before they allow you to dock your boat. If your boat is financed, your lender will typically require you to carry comprehensive and collision insurance until your boat is paid off. Additionally, boat rental companies may require you to purchase insurance to protect their equipment in the case of an accident or other damages.

Although not mandated by law, carrying boat insurance is advisable due to the potential high costs associated with boating accidents and the relatively common occurrence of these incidents in Florida’s busy waters.

Who Pays for Injuries in a Boat Accident?

If you’re involved in a boating accident in Florida, the party who caused the crash is typically responsible for your damages. However, Florida’s modified comparative negligence laws can impact what’s covered:

  • Another Boater is At Fault: If another vessel operator is at fault for the collision, their liability insurance should cover damages or injuries to you, your passengers, and your boat. For instance, if they were speeding and ignoring a No Wake zone sign, you could file with the liability coverage for damages.
  • You Are At Fault: If you acted negligently and caused the crash, you can file for whatever coverages you have under your boating insurance policy. However, the other party could also file with your liability insurance for damages.
  • Both Parties Are At Fault: If both parties are at fault—for example, if you were speeding, but they were driving under the influence—modified comparative negligence will apply. This means you can win damages, but the award is reduced by your percentage of fault. However, if you are more than 50% responsible, you won’t be able to seek compensation.
  • Uninsured Boaters: If an uninsured boater is at fault, and you have uninsured/underinsured boating coverage, your own policy may cover your damages and medical expenses.

The insurance claims process can become contentious in more complicated accidents, such as those involving multiple boats or substantial injuries. It is often in your best interest to consult a knowledgeable attorney who can help navigate marine insurance law, ensure compliance with Florida’s regulations, and advocate on your behalf.

Safeguard Your Boating Adventures: Insurance Matters

In Florida, where boating is both a pastime and a lifestyle, it is important to be informed about how boat insurance works. Understanding the different types of insurance and ensuring you have adequate coverage can protect you, your assets, and your love for the open water.

Aigen Injury Law can help you understand your rights and marine insurance claims if you are involved in a boating accident. Contact us for a free consultation today.