Top 5 Boat Insurance Coverages Every Florida Boater Needs

That’s exactly why your boat insurance should be built for Florida. Not just any policy. The right mix of coverage for how and where you use your boat.

This guide breaks down the five core coverages every Florida boater should consider. Whether you’re fishing off the Keys, running the Intracoastal, or trailering to the springs, you’ll see how to protect your boat (and your wallet) before something goes wrong.

1. Liability Coverage

This is the coverage that protects you when something goes wrong—and it’s your fault. Say you hit another boat. Or damage a dock. Or someone gets hurt onboard. Liability helps pay for those costs so you’re not stuck covering them out of pocket.

In Florida, that risk goes up just by being on the water.

Crowded marinas, weekend traffic, inexperienced boaters, sudden weather. Any of these can lead to accidents, even for people who know what they’re doing.

You might not think it’s likely. But what if:

• You scrape another boat while docking in Sarasota?
• A friend slips and gets injured stepping off in Fort Myers?
• You misjudge a turn near the Keys and sideswipe a rental pontoon?

Those aren’t huge crashes, but they can turn into five-figure claims. And if someone sues you? Liability also helps cover your legal defense.

Most boat loans require liability coverage. So if your boat’s financed, you’re probably already carrying it. But even if it’s paid off, dropping this coverage is risky. A single incident could cost way more than your yearly premium.

Before you choose a policy, ask your agent:

• Does this cover both inland and coastal waters in Florida?
• Are passengers covered if they get hurt?
• What’s excluded, if anything?

Liability might not be the most exciting part of your policy. But it’s often the most important. Especially in Florida, where boating is year-round and things get crowded fast.

2. Physical Damage (Hull Insurance)

This is the coverage that protects your boat itself. If it’s damaged, destroyed, or stolen, hull insurance helps pay for repairs or replacement.

In Florida, that’s not a maybe—it’s a must. Between hurricanes, summer squalls, shallow reefs, and year-round traffic, the odds of something going wrong are higher than most other places.

Think about where you boat.

• Storm hits while your boat’s docked in Tampa Bay?
• You run aground on a shoal near the Dry Tortugas?
• Wake damage from a passing yacht in Miami?

These are all real risks, and without hull coverage, you’re footing the bill.

There are two main ways this is structured:

• Replacement Cost: Pays to replace your boat with the same or similar model, no depreciation.
• Actual Cash Value (ACV): Factors in depreciation, so your payout may be less than what you need to replace or repair.

Most newer boats benefit from replacement cost. Older boats usually default to ACV.

Either way, a hull strike or storm repair could run you $10,000 to $25,000 (or more) depending on the damage.

Things to ask your agent:

• Does my policy cover named storms and hurricanes?
• Are accessories like trolling motors, electronics, or custom upgrades included?
• How does depreciation affect my payout?

Hull insurance isn’t just for total losses. Even smaller damage adds up fast. Especially in Florida, where labor and parts can be expensive and wait times are long. Better to be covered than caught off guard.

3. Uninsured/Underinsured Boater Coverage

This part of your policy steps in when another boater causes an accident. But doesn’t have enough insurance to cover your damage. Or worse, has none at all.

Unfortunately, that’s not rare.

In Florida, boating is accessible, seasonal, and often casual. Which means a lot of people out there don’t carry proper coverage, or skip it entirely.

If one of them hits you, you could be stuck with the bill for your boat repairs, medical treatment, or both. This coverage helps make sure you’re not left paying for someone else’s mistake.

Places like Destin, Daytona, and Clearwater see huge spikes in traffic during spring and summer. Tourists rent boats. Weekend warriors hit the water. Not everyone knows what they’re doing (or has insurance).

Think about it:

• You’re anchored near a sandbar and a jet ski clips your hull.
• Someone rear-ends you in the channel, then says they don’t have coverage.
• Your fishing boat takes a hit offshore—and the guy who hit you can’t pay a dime.

If your policy doesn’t include uninsured or underinsured boater coverage, you're on your own.

Good rule of thumb: Match your uninsured boater limit to your hull value. If your boat’s worth $50,000, that’s the ballpark you want.

Smart questions to ask your agent:

• What’s my uninsured boater limit?
• Does this cover both property damage and bodily injury?
• Is it bundled with any other coverage or separate?

It’s not required by law. But in Florida, where boating is a year-round sport for all experience levels, it makes a lot of sense.

4. Medical Payments (Med‑Pay)

Med-Pay covers medical costs if someone gets hurt on your boat—no matter who caused the accident. It’s designed to pay quickly for things like ER visits, ambulance rides, or follow-up care.

It covers you, your passengers, and sometimes even people boarding or getting off the boat.

That kind of protection comes in handy more often than you’d think.

• A guest slips on a wet deck near Cocoa Beach.
• Your kid cuts their foot climbing into the boat at a sandbar.
• A friend tweaks their back during rough chop off St. Augustine.

None of those are major crashes, but they can still mean a trip to the hospital, and an ER visit in Florida could run $5,000 or more, even for minor injuries.

Med-Pay helps cover that without having to fight over fault or wait on a liability investigation. It kicks in quickly and keeps things simple.

Most policies offer Med-Pay as an optional add-on, and it’s usually affordable: think $50 to $100 per year, depending on your limits.

Common limits are $1,000, $5,000, or $10,000.

Higher limits make sense if you boat often with family, kids, or guests. Especially if you’re far from a hospital and want the peace of mind that emergency care won’t become a financial problem.

What to ask your agent:

• Who exactly is covered under Med-Pay on my policy?
• Are there any per-person or per-incident limits?
• Does it cover injuries on land while entering or exiting the boat?

It’s a small line item on your policy. But one of the few that pays you back directly when something happens.

5. Emergency Towing & Assistance

Boats break down. It happens more often than you'd think; especially in saltwater, where corrosion and wear add up fast.

Emergency towing and assistance coverage is there when your engine dies, your battery fails, or something just stops working while you're on the water. It gets you back to shore without a massive bill.

In Florida, that kind of support isn’t just helpful. It’s essential.

Picture breaking down:

• In the Banana River with a storm rolling in
• Miles offshore near Bimini
• Or even just a dead battery at dusk in Sarasota Bay

A basic tow in those cases could easily run $500 to $1,200, depending on distance. If you're far out or it’s after hours, it could be more.

This coverage usually includes:

• Towing to the nearest marina or launch
• Fuel or oil delivery if you run out
• Jump-starts or mechanical help if you're stranded

It’s often one of the cheapest add-ons in a policy (usually around $50 to $100 per year). But offers huge return when you actually need it.

What to ask your agent:

• What’s the mileage limit for tows? (Some go up to 50 miles or more)
• Are all waterways in Florida included?
• Does it cover labor or just the tow?

If you boat in unfamiliar spots, take longer trips, or don’t always go out with a second vessel nearby, this coverage can save you a major headache. It’s not about convenience. It’s about not being stuck out there with no backup.

Key Add‑On Coverages

Base coverage is a good start. But if you spend a lot of time on the water (or keep valuable gear onboard) these add-ons can make a big difference. They’re designed to cover the gaps that matter most in Florida.

Hurricane Deductible Option

Florida sees more named storms than any other state. And when a hurricane is officially declared, many insurers apply a separate deductible, usually a percentage of your boat’s insured value.

With this add-on, you can plan ahead.

Instead of a flat fee, you’ll pay a fixed percentage (like 2% or 5%) only if damage comes from a named storm. It’s often cheaper than paying full out-of-pocket costs after a major storm event.

Ask your agent:

• What’s the hurricane deductible under my current policy?
• Can I lower it or convert it to a percentage-based structure?

Agreed Value Coverage

This one’s about clarity at claim time.

If your boat is totaled, agreed value coverage pays the exact amount you agreed to when the policy was written. No depreciation. No surprises.

For example, if your boat was insured for $65,000, that’s what you’d get—whether it’s one year old or five.

It’s especially helpful if you’ve invested in custom upgrades or maintain your boat in top condition.

Ask your agent:

• Does my policy use agreed value or actual cash value?
• Can I update the value if I add new equipment or features?

Fishing Gear & Electronics Coverage

Rod lockers, sonar systems, trolling motors, chart plotters, it adds up fast. If you’re into offshore or tournament fishing, your gear alone could be worth thousands.

This add-on protects your personal gear and installed electronics if they’re damaged, lost, or stolen.

Florida risk? Theft at marinas, saltwater damage, even gear going overboard in rough surf.

Ask your agent:

• Is gear covered automatically, or do I need to list items?
• Are electronics included, or do they need a separate rider?

None of these are “extras” if you use your boat often or have a lot invested in it. In Florida’s marine environment, they’re practical upgrades. Built for how people actually use their boats.

Why Comparing Coverage Matters in Florida

How to Pick the Right Boat Insurance Policy in Florida

Not every policy fits every boater. What works for someone cruising a lake near Orlando won’t always cut it for offshore fishing trips in the Keys. Start with what’s real for you.

1. Map out how you actually use your boat.

Start with the basics—how, where, and how often you boat. These details shape what kind of coverage you actually need.

Ask yourself:

• Where do you usually go? Are you boating inland on lakes and rivers, cruising along the coast, or heading offshore into deeper waters? Some policies limit how far offshore you’re covered.
• What kind of water traffic are you around? Quiet canals near your home? Busy marinas in places like Fort Lauderdale or Sarasota? More traffic means higher accident risk. And that affects the liability limits you might want.
• How do you store and move your boat? Do you leave it docked in the water year-round, or trailer it between ramps across different counties? Storage and transport both increase exposure to theft, weather damage, or accidents off the water.

The more accurately you map your routine, the more tailored (and useful) your policy will be.

2. Think about what could go wrong.

No one likes to plan for problems. But if you own a boat in Florida, it’s smart to think through the risks before something happens.

Consider these questions:

• Do you navigate near hazards? Sandbars, rocks, oyster beds. These are common in Florida, especially around the Keys, the Intracoastal, and parts of the Gulf Coast. One misstep can lead to serious hull damage.
• Are you boating during storm season? From June to November, afternoon storms can roll in fast. If you keep your boat in the water or use it often during this time, you’ll want strong storm and hurricane coverage.
• Do you bring family, friends, or kids aboard? More passengers mean more chances for injuries. Slips, trips, or accidents while boarding or docking. Med-Pay and higher liability limits can make a real difference.

The goal isn’t to expect the worst. But to make sure you’re covered if it happens. A little planning now can save a lot of stress later.

3. Look past the premium.

The lowest price isn’t always the best value. It’s easy to focus on the monthly cost, but what you’re really buying is protection. And some budget policies leave out key coverage.

A cheaper policy might mean:

• High deductibles that eat into your payout
• Coverage limits that don’t match your boat’s value
• Exclusions for offshore use, towing, or hurricane damage
• Little to no coverage for personal items or passengers

You could save a few hundred now, and still end up paying thousands later after a claim.

When you compare quotes, look closely at what’s actually included. Coverage gaps aren’t always obvious until something goes wrong.

4. Ask your agent for specifics.

A good policy should be easy to understand. But not all are. Before you buy, take a few minutes to get clear answers from your agent. It could save you from a frustrating surprise later.

Here’s what to ask:

• What exactly is covered, and what isn’t? Look for exclusions tied to where or how you use your boat.
• Are there limits on towing, storm, or hurricane coverage? Some policies cap how far you can be towed or apply special deductibles during named storms.
• How are claims handled? Is the process quick? Are repairs done through approved shops or can you choose? Ask how long typical claims take.

The more specific the answers, the better you'll understand how your policy actually works when you need it most.

5. Balance short-term savings against long-term risks.

Saving $200 a year might feel like a win—until you're stuck with a $20,000 repair and no coverage to help with it.

It’s not about buying the most expensive policy. It’s about making sure your coverage fits how you actually use your boat, and protects you from the risks that matter most.

A strong policy should:

• Match your boating routine and risk level
• Cover common Florida hazards: storms, collisions, towing needs
• Offer real support when something goes wrong

Cutting coverage might lower your premium, but it often shifts the real cost to later, when you can least afford it. Take the time to get it right upfront.

Ready for a Quote?

Now that you know what solid boat insurance looks like in Florida, you’re in a better spot to make the right call. Whether you're comparing policies or just trying to avoid common gaps.

If you want help reviewing your options; or you’re looking for coverage that fits how and where you boat, we can help.

Whether you're in Miami, Jacksonville, Sanibel, or anywhere in between, Worth Insurance makes it easy to get a quote that actually works for Florida waters.

Reach out when you're ready. We’ll keep it simple.

Florida Boat Insurance FAQs

Do I really need boat insurance in Florida?

Florida law doesn’t require boat insurance for most watercraft. But if your boat is financed, your lender will. And even if it’s paid off, insurance is the only thing standing between you and a massive out-of-pocket bill after a storm, accident, or theft.

What’s the difference between liability and hull coverage?

Liability covers damage you cause to others. Like hitting another boat or injuring someone.

Hull (or physical damage) covers your boat: repairs, replacement, or loss due to storms, collisions, theft, or fire.

How far offshore does boat insurance typically cover in Florida?

It varies by policy. Some only cover up to 25 nautical miles offshore, while others offer extended offshore coverage. If you fish or cruise far from shore, ask about specific limits tied to your usage.

Does boat insurance cover hurricane damage?

Most Florida policies do. But often with a separate hurricane deductible (usually a percentage of the insured value). Make sure your policy covers named storms and check how deductibles are applied.

Is towing included in standard coverage?

Usually not. Emergency towing and assistance is an optional add-on. Without it, a single tow could cost you $1,000 or more, especially in remote or offshore areas.

What’s a good liability limit for Florida boaters?

Minimums vary, but many Florida boaters carry at least $300,000. Higher limits ($500,000 or more) make sense if you boat in crowded areas or frequently have guests onboard.

Does boat insurance cover fishing gear or electronics?

Only if you add specific coverage for personal property or marine electronics. Rods, fish finders, trolling motors—these aren’t always included in base coverage.

What’s “agreed value” coverage, and is it better?

Agreed value means your insurer pays the full insured amount if your boat is totaled—no depreciation. It’s usually better for newer boats or boats with custom upgrades. Actual Cash Value (ACV) deducts for wear and age.

How much does boat insurance cost in Florida?

It depends on your boat’s value, where you store it, how often you use it, and what coverage you choose. On average, Florida premiums range from $300 to $1,000 per year, but it can be more for high-end boats or offshore use.

How can I get a boat insurance quote that fits my needs?

The easiest way is to speak with a local Florida agent who understands the specific risks you face. Worth Insurance offers custom quotes built around how and where you boat. Whether that’s in Miami, the Panhandle, or anywhere in between.