Florida Inland Marine Insurance Guide: Critical Terms Explained

Posted on by agentinsure

Florida inland marine insurance is a kind of insurance that you can get as boat insurance for your marine life. The terms, however, can seem very confusing.

At McCormick Insurance Inc., we want Pembroke Pines, FL boat owners to have the most thorough policy for their boat insurance. We want you to understand what the terms mean as well. 

Learn more about Florida inland marine insurance here.

Type of Policy

There are a number of kinds of marine insurance that you can get. For Florida boat insurance, you can get hull insurance or liability insurance.

Hull insurance will protect the hull of your boat and any damage that could be caused to it by weather or collision.

Liability insurance will cover any liabilities that you incur as a result of an accident or event for which you are at fault or held liable. 

You are not required to get both kinds of insurance. A policy that only provides liability will cover you in the event of a disaster for which you are ultimately held financially responsible. 

Add-Ons to Florida Inland Marine Insurance

There are a number of elements to any boat insurance policy that you can add to create a more thorough policy.

Navigational limits are a common feature of every marine insurance plan. This term defines where you can and can not operate your marine vessel under marine or maritime law. You can have this amended to include extended navigational limits so that you can take your boat farther than your policy provides.

The layup period specified in your marine inland insurance policy specifies what months you can and can not operate your boat. You may not want this in Florida, but you may choose to dock your boat during certain months of the year if you are not using it. The time frame between November and April is the most common layup period.

Get a Quote

If you have not purchased marine inland insurance before, the terms can feel confusing. They are easier to understand than you think. At McCormick Insurance Inc., we want Pembroke Pines, FL boat owners to feel confident with their boat insurance policy. Call us for a quote today.