Watercraft Insurance

Watercraft insurance, though it’s not legally required, is highly recommended in the state of Florida – why go unprotected during the time you spend on the water?

Watercraft Insurance Coverages

There are quite a few facets of a watercraft that insurance covers. Those facets include:

  • Hull and Motors
    • Provides for repairs/replacements in the event of the boat/motor becomes damaged.
  • Accessories
    • This includes fishing gear, equipment, life jackets, etc. Under a basic policy, unattached items present on your boat might not be covered – but specific coverage for accessories will cover the replacement of stolen/damaged accessories.
  • Trailer
    • Though auto insurance covers liability for your trailer, it does not cover physical damage. Watercraft insurance can.
  • Liability
    • If you are held legally responsible for a boating accident that caused injury to others/damage to their boat and property, this coverage will protect you.
  • Medical
    • This can cover medical expenses for people who don’t live in your household.
  • Towing
    • Coverage depends on the policy.
  • Uninsured/Underinsured Watercraft
    • If you get into an accident with an uninsured/underinsured boater, this coverage will provide protection.

The Cost of Watercraft Insurance

There’s no ‘one-size-fits-all’ for watercraft insurance costs. The cost depends on several factors, such as:

  • Coverages, coverage limits, and deductibles that you select for your policy
  • Your type of boat, size of boat
  • Where you will use/store your boat

Limits and Deductibles

Coverage limits apply to watercraft insurance just like they do with homeowners insurance or auto insurance. The limits are the maximum amount of money that your policy is able to pay out after a covered loss, and we here at Chapman Insurance Group will help make those limits clear and understandable for you.

The deductible is the amount that you pay out-of-pocket before insurance covers your claim.


Our carriers offer a number of discounts when it comes to purchasing watercraft insurance. These discounts depend on:

  • Completion of a certified safety course
  • Your boating experience
  • The areas in which you use your watercraft
  • A good driving record
  • If you’re claim-free
  • If you’re over 50 years old

Watercraft insurance is important for anyone who spends time on the water in the state of Florida. Contact CIG today and we can walk you through the process and give you a free quote.

Have a question?
Talk to an expert.

Whether you own a motorboat, sailboat, or any watercraft we can answer all your questions. Talk to one of our agents to find a policy that works for you.

Find an agent in your area.

Providing watercraft insurance in Port Charlotte, Punta Gorda, Cape Coral, Fort Myers, Bonita Springs, and Naples, Florida.

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