Does Boat Insurance Cover Hurricane Damage in Florida?

As hurricane season nears, Jacksonville, FL boat owners may benefit from reviewing their boat insurance policy. Gray & Gray West Inc. can help you understand your options and what may be covered after a storm-related loss.

Understanding Hurricane Coverage for Florida Boaters

Florida marine insurance policies may generally cover physical damage caused by wind, hail and storm surges during a hurricane. However, the scope of that coverage can vary. Most policies may be written as “all-risk” or “named perils.” An all-risk policy can cover all causes of loss unless specifically excluded, whereas a named perils policy may cover only events explicitly listed in the policy.

Many policies can also carry a separate windstorm deductible. Rather than a fixed dollar amount, this deductible may represent a percentage of the boat’s total insured value.

The Importance of a Hurricane Haul-Out Provision

Some watercraft policies may include a hurricane haul-out provision, which can help offset the costs of professionally hauling, storing and protecting a vessel before a named storm arrives. Many boaters may be unaware that this benefit can be part of their coverage. Following through on these steps may also be a policy requirement for coverage to apply during a major storm.

Key Factors That Influence Your Coverage

These factors can impact how your insurance responds to a hurricane:

• Agreed value vs. actual cash value: Confirm whether a policy pays the full insured amount or a depreciated amount after a total loss.
• Navigation limits: Coverage may need to reflect the specific Florida waters where a boat is docked or stored.
• Salvage and wreck removal: Recovery costs after a hurricane can be substantial. Some policies may include separate limits for salvage and fuel spill liability.

Get Covered Today

Contact Gray & Gray West Inc. to learn more and get a free custom quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.