- Does my homeowners policy cover my boat?
- Usually not, beyond a small dinghy. Most homeowners policies exclude watercraft over a certain size, horsepower, or use case. For anything you actually take out, you need a dedicated boat or yacht policy.
- What's the difference between agreed value and actual cash value?
- Agreed value pays the amount you and the carrier set when the policy was written, regardless of depreciation. Actual cash value pays the depreciated market value at the time of loss. For higher-value or older boats, agreed value is usually worth the small premium difference.
- Do I need coverage if I only use the boat a few months a year?
- Yes — even at the dock you have exposure to storm damage, fire, theft, and liability. Layup periods can sometimes lower the premium, and we can structure a policy that recognizes seasonal use without leaving you uncovered when the boat isn't moving.
- What's a hurricane lay-up clause and does it apply to me?
- It's a Florida-specific contractual requirement — when the National Hurricane Center issues a tropical storm or hurricane watch/warning for your area, you have a defined window (often 24-72 hours) to move the boat to a designated safe harbor, pull it out of the water, or follow the carrier's specific storm plan. Fail to comply and the carrier can deny a wind/named-storm claim entirely. Smaller boats (typically under 27 feet) on a trailer at home are often exempt. We walk through your specific lay-up requirements at bind.
- Saltwater vs freshwater — does it change the policy?
- Yes. Saltwater operation rates higher because of corrosion exposure, more aggressive named-storm risk, and higher salvage costs offshore. Pure freshwater boats (lakes, rivers, intracoastal-only) usually price 15-30% less. Some policies include a navigation warranty restricting where the boat can go — operate outside that area (e.g., taking a freshwater-rated boat into the Gulf) and a related claim can be denied. We match the navigation warranty to your actual use, not a default.
- How does the named-storm deductible work?
- Separate from your standard hull deductible (often $500-$2,500), the named-storm deductible kicks in only when a tropical storm, hurricane, or named system is declared by the NHC. Named-storm deductibles commonly run 5-10% of hull value in coastal Florida — on a $100,000 boat at 10%, that's $10,000 out of pocket before the wind claim pays. The standard deductible still applies to non-named events (lightning, lone thunderstorm, dock collision). We disclose both deductibles upfront.
- Does the policy cover my trailer and towing on the road?
- Most marine policies extend physical damage coverage to the trailer at a sublimit (typically $1,000-$5,000) and provide some on-road liability while the boat is in tow behind your truck. Higher-value trailers and tow vehicles need a dedicated endorsement or coverage under the auto policy. Towed-vehicle liability is the most commonly overlooked piece — a trailer breakaway accident on I-95 is your auto policy's problem first, then the boat policy fills the gap. We confirm both.
- Are electric motors and trolling motors covered?
- Built-in motors and outboards are part of the hull coverage automatically. Trolling motors, electric outboards, and aftermarket additions over a certain dollar threshold often need to be listed on the policy schedule to be covered for theft or damage. Lithium-battery fires on electric outboards are a fast-growing claim type and some carriers now sublimit or exclude them — we confirm the language before binding.
