The State of Florida does not require boat owners to carry insurance. However, if you have a loan out on your boat, the lender may require it. Likewise, if you keep your boat at a marina, the marina may require you to have insurance. Even if neither of these things applies to you, boat insurance still may be essential to your financial security if you are involved in a boat accident.
What Boat Insurance Covers
The terms of your boat insurance policy will specify what the insurance company will cover after an accident. For example, some policies only cover named perils included in the insurance contract, while other policies include coverage for all perils.
Many boat insurance policies include coverage for things such as:
- Damage to your boat or personal property
- Medical payments if you or someone on your boat is hurt
- Liability coverage if another boat sustains damage or someone on another boat is injured
- Towing coverage if you can’t get the boat back to land safely
- Uninsured boat owner’s coverage in case you suffer damages in a collision with an uninsured vessel
Often, you will need to pay an out-of-pocket deductible before the insurance company will cover your expenses.
Accidents With Uninsured Boaters
Even if you’re a careful boater, you share the waterways with other boaters. If a negligent boater who causes your accident does not have boat insurance or the financial means to pay your damages, it will be up to you to pay for your own accident damages.
If you have uninsured boat accident coverage on your boat insurance policy, you may not need to pay your accident damages out of your own pocket. Instead, your insurance company should pay for your medical expenses, property damage, and other losses.
Even though you’ve paid your insurance premiums, your insurance company may be reluctant to provide you with fair damages after an uninsured boating accident. An experienced Florida boat accident lawyer can help you get the recovery you deserve from your insurance company. Contact us today for a free case review and to learn more about protecting your rights after a boating accident.