What Marine Insurance Covers
A complete guide to Florida marine insurance coverage types — what's included, what's optional, and why each protection matters on Florida waters
Core Coverage Components
Understanding what each coverage type protects you against
Hull & Machinery Coverage
Covers physical damage to your vessel's hull, deck, cabin, engine, and installed equipment from collision, sinking, fire, theft, vandalism, and weather events including hurricanes.
- ✓Agreed value or actual cash value options
- ✓Engine and machinery breakdown (optional endorsement)
- ✓Total loss replacement for newer vessels
- ✓Hurricane and named storm damage
- ✓Collision with fixed objects and other vessels
- ✓Fire, theft, and vandalism
Bodily Injury Liability
Pays for injuries to other people caused by your vessel or your negligent operation. Covers medical expenses, lost wages, and legal defense costs if you're sued.
- ✓Medical expenses for injured third parties
- ✓Lost wages and pain and suffering
- ✓Legal defense costs
- ✓Recommended minimum $100,000 per occurrence
- ✓Covers passengers on other vessels
- ✓Water sports towing incidents
Property Damage Liability
Covers damage your vessel causes to other people's property — other boats, docks, marina structures, and waterfront property — up to your policy limit.
- ✓Damage to other vessels in collisions
- ✓Dock and marina structure damage
- ✓Waterfront property damage
- ✓Mooring equipment and infrastructure
- ✓Wake damage to other vessels
- ✓Recommended minimum $100,000 per occurrence
Medical Payments
Covers medical expenses for you and your passengers injured in a boating accident, regardless of fault. Essential for family boating and water sports activities.
- ✓Medical expenses for all aboard regardless of fault
- ✓Ambulance and emergency transport
- ✓Hospital and surgical costs
- ✓No-fault coverage for passengers
- ✓Typical limits from $1,000 to $10,000 per person
- ✓Often includes dental injury
Uninsured Boater Protection
Protects you if an uninsured or underinsured boater causes injury to you or your passengers. Critical in Florida where boat insurance is not legally required.
- ✓Medical expenses if hit by uninsured boater
- ✓Lost wages and pain and suffering
- ✓Covers hit-and-run incidents
- ✓Underinsured boater gap coverage
- ✓Strongly recommended in Florida
- ✓Relatively inexpensive to add
Emergency Towing & Assistance
Covers the cost of on-water and on-land towing if your vessel breaks down. Essential for offshore fishing and cruising in Florida's extensive waterways.
- ✓On-water towing to nearest marina
- ✓On-land towing if needed
- ✓Jump start and battery service
- ✓Fuel delivery (fuel cost extra)
- ✓Ungrounding assistance
- ✓Labor charges for emergency assistance
Fuel Spill Liability
Covers the cost of cleaning up fuel or oil spills from your vessel. Florida's strict environmental laws make this coverage essential for all motorized vessels.
- ✓Cleanup costs for fuel and oil spills
- ✓Environmental damage remediation
- ✓Government agency fines and penalties
- ✓Third-party environmental claims
- ✓Required by many marinas
- ✓Florida environmental laws are strict
Personal Effects Coverage
Covers personal belongings, fishing gear, clothing, and portable electronics that are lost, stolen, or damaged while on your vessel or in transit.
- ✓Clothing and personal items
- ✓Fishing equipment and tackle
- ✓Portable electronics and cameras
- ✓Scuba and diving equipment
- ✓Sporting and water sports equipment
- ✓Usually limited to $1,000–$5,000
Agreed Value vs Actual Cash Value
In a total loss, you receive the full agreed insured value — no depreciation deducted. The value is agreed between you and the insurer when the policy is taken out.
- ✓Full value paid on total loss
- ✓No depreciation deduction
- ✓Best for newer or high-value vessels
- ✓Peace of mind knowing exactly what you'll receive
Depreciation is applied to the vessel's value at the time of a total loss. As the boat ages, the payout decreases — potentially leaving you with a significant gap between the payout and replacement cost.
- •Lower premiums initially
- •Depreciation reduces total loss payout
- •May leave gap vs replacement cost
- •More suitable for older or low-value vessels
Optional Coverage Extensions
Extended Navigation
Cover for Bahamas, Caribbean, or international waters beyond standard coastal limits
Fishing Equipment
Rods, reels, outriggers, downriggers, and specialized fishing gear
Racing/Tournament
Cover for participating in offshore fishing tournaments or sailing regattas
Professional Crew
Crew liability, workers' comp, and personal accident for professional captains and crew
Loss of Use
Daily allowance if your vessel is out of service due to a covered claim
Hurricane Haul-Out
Covers the cost of hauling your vessel before a named storm
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