Complete Boat Insurance Solutions Tailored to Your Needs
Many people live and visit Miami to spend time out on the water. One of the best ways to see the sites is on a boat or yacht.
Boats are a significant investment. They deserve the same level of protection you’d get for your car or home.
At Caley Insurance, we work closely with our clients. We learn about what type of boat they have and the level of coverage they want for it. We create personalized boat insurance policies that ensure they feel secure while on the water.
Are you ready to get started? Get in touch to learn more about our Miami boat insurance policies.
What’s Boat Insurance?
Boat insurance protects you financially from damage or injuries you might cause to others while boating. It can also cover your trailer and watercraft if damaged or stolen. You can purchase additional insurance policies that give you even more coverage.
While boat insurance isn’t a legal requirement in Florida, it’s not something you should skip as a boat owner. Your homeowner’s or auto insurance policy won’t cover your boat or medical bills if someone gets injured. You’d be responsible for paying those costs out of your pocket.
A loan company might require you to take out a boat insurance policy if you borrowed money to purchase your boat. Some marinas make it mandatory to have boat insurance to dock in their slips.
What Are the Types of Boat Insurance a Vessel Owner Can Buy in Miami?
There are countless types of boats but not that many variations on boat insurance. Most insurance companies cover the common types of watercraft, such as:
- Jet skis
- Bass boats
- Ski boats
You might need specialty insurance with a large vessel, such as a houseboat. Some of the most common types of insurance you’ll find include:
A boat liability coverage insurance policy protects you and others while on the water. Your liability coverage can cover expenses that might arise if you cause an accident while boating.
Liability coverage limits usually start around $100,000, but most companies recommend around $500,000 to 1,000,000. Expenses can quickly climb after a boating accident. You want to ensure you’ll have enough so you don’t have to pay expenses yourself.
Property Damage Liability Coverage
This insurance policy covers the repair cost to another person’s property that you’re responsible for. For example, you might damage someone’s dock or boat if you crash into it. This policy will cover the full cost.
Bodily Injury Coverage
Bodily injury coverage covers medical bills and expenses if you injure another person. This might also include loss of wages if they can’t work after their accident. This policy won’t cover any injuries you sustain or damage you might’ve caused.
What Our Clients Are Saying
We’re proud to offer our community with the most affordable and in-depth insurance coverages available