Why Boat &Watercraft Insurance is a Necessity as a Boat Owner

Why Boat &Watercraft Insurance is a Necessity as a Boat Owner

There’s a reason why Florida is called “The Sunshine State.” It’s the warmest of all the states with an average temperature of 70.7°F and gets 2800 hours of sunlight yearly. The sunshine, combined with being surrounded by the Atlantic and the Gulf, makes watersports and outdoor water activities a large part of our lives.

As a result, our waterways can get busy – especially during the summer months. Additionally, our state has high hurricane and storm risks. Not investing in boat insurance not only protects you and your boat against incidents on the water but also covers you if your boat is damaged or

Most states, including Florida, do not require boat & watercraft insurance. However, boat insurance is a wise idea. Here are some reasons to consider:

It’s most likely required.

While the State of Florida statutes do not require that you purchase insurance, your lender or boat storage location likely will. A boat is an expensive investment. Chances are, you’ve financed your purchase instead of paying cash. Your lender will require boat & watercraft insurance as a provision of the loan. And if you don’t own waterfront property, marinas require insurance using their slip or mooring at their facility.

Risk out of the water.

Unfortunately, incidents can occur while your boat is not on the water. Your insurance policy should protect you from damage or loss from fire, vandalism, and theft. These incidents are more frequent during the winter when marinas and boatyards are less populated.

Beware of Mother Nature.

Even when you’re not using your boat, it’s susceptible to damage from the elements such as flooding, hail, and in Florida, hurricanes. Purchasing the proper boat insurance can protect your investment and prevent you from losing thousands of dollars.

Homeowners’ insurance provides limited boat coverage.

Boat insurance is similar to auto and homeowners insurance. In the event of a total loss, you can choose between the replacement costs or the actual cash value of the boat. Like auto insurance, boat insurance includes the following:

Collision coverage: Covers the cost of repairs or replacement of your boat in the event of a collision.

Property damage liability: Covers the cost of damage to someone else’s boat, dock, or other related property or structures.

Bodily injury liability: Covers you if you are sued for injuring another person in a boat accident.

Comprehensive coverage: Covers you if your boat is damaged, stolen, or vandalized in an incident that is not a collision.

It can be cost-effective.

Everyone is looking to save money when they can. If you cancel your boat policy for the months it’s not in use, it can be more costly than having continual insurance. And you carry auto and homeowners policies with the same insurer, you’ll receive a deeper multiple policy discount.

Loyalty discounts are also available for renewing annual policies and maintaining coverage.

If you are looking for a home, condo, auto insurance, boat, flood, or life insurance, look no further! Chaisteli Insurance Group is a local, independently-owned insurance agency with more than 30 years of experience helping Floridians find the right insurance at the right price. To learn more about our service or request a free quote, give us a call at (954) 583-3838 or fill out our contact form.

Elijeana King-Thompson, CPIA

Founder · Chaisteli Insurance Group — Davie, Florida

Elijeana King-Thompson, CPIA, is the founder of Chaisteli Insurance Group and a licensed insurance professional in Florida and Georgia with more than 30 years of industry experience. Since founding Chaisteli in 2008, she has helped individuals, families, property owners, and businesses understand their risks, evaluate coverage, and navigate Florida’s changing insurance market.

Her areas of experience include homeowners, windstorm, flood, auto, condominium, rental property, commercial, general liability, workers’ compensation, life, and health insurance. Elijeana reviews Chaisteli’s educational content for accuracy and adds practical insights based on her experience serving clients throughout Broward County and South Florida.

Credentials: Certified Professional Insurance Agent, or CPIA, designation · Licensed insurance professional in Florida and Georgia
Education: A.A. in Business Management, Broward College · Women in Executive Leadership Program, Florida Atlantic University College of Business
Professional memberships: PIA National · Latin American Association of Insurance Agencies · National African American Insurance Association · Independent Insurance Agents of Broward County
Service area Davie, Fort Lauderdale, Cooper City, Pembroke Pines, Coral Springs, Plantation, Pompano Beach, Parkland, Hollywood, greater Broward County, and communities throughout South Florida
Languages English and Spanish
Selected recognition: 2026 South Florida Favorites Gold Winner for Top Insurance Agency · Best of Davie 2025 and 2026 · Best of Pembroke Pines 2024–2026 · Nextdoor Neighborhood Fave 2023 and 2024

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