Watercraft, ATVs, and RVs can make enjoying the outdoors all the more exciting. However, it's important to remember that these scenic and exhilarating experiences can also encounter the unexpected. In 2022 alone, the US Coast Guard reported more than $10 million in damages in just the state of Florida. Proper coverage is essential in the event of an accident, injury, or damage. In this blog, we're diving into why watercraft, ATV, UTV, and RV insurance are so important.
Watercraft Insurance
We use the term 'watercraft insurance' to describe boat, yacht, and personal watercraft insurance. The size of your watercraft determines which policy would be the best fit for you. To select the most suitable policy, it's important to consult your insurance agent. Let's break down what each policy offers.
Boat Insurance
Boat insurance includes various kinds of protection, including liability, physical damage coverage, theft, and more. Where you store your boat, how often you use it, and its size can affect your policy.
Yacht Insurance
We feel expensive just talking about it! Yachts differ from boats in several ways, including their size, value, capabilities, and general use. Due to these factors, yachts require even more protection. They can also have additional liabilities, such as crew liability. For those who have yachts, it's paramount that they have the proper protection to safeguard their finances.
Personal Watercraft Insurance
Who doesn't love the adrenaline rush of being on a jet ski? While it can be easy to get caught up in the rush, it's important to remember that accidents can easily occur on personal watercraft. This policy can cover medical payments, bodily injury, property damage, and more.
Myth: Boats are covered under your homeowners insurance policy.
While some homeowners insurance can cover small boats and vessels under 25 horsepower, it doesn't extend to larger or personal watercraft. In addition, these policies usually have lower payouts than you would need to cover the cost of repair, damage, or theft. Review your homeowner insurance policy to understand the specifics. However, your boat or watercraft will likely need its own, separate policy.
ATV & UTV Insurance
All-terrain vehicles (ATVs) and utility task vehicles (UTVs) can not only be fun, but they're also useful. Depending on the size of your property or occupation, it may be necessary for you to utilize these vehicles. Whether you have these vehicles for pleasure or work, it's important to take the necessary insurance precautions.
ATV Insurance
While ATVs are designed for off-road, navigating outdoor terrain increases the risk of accidents, injuries, and damage. All-terrain vehicle coverage typically includes liability, comprehensive and collision repair, and more.
UTV Insurance
Utility terrain vehicles are more likely to be used for work, but can also be used for fun. It's important to chat with your agent about how you use these vehicles so you can protect your employees, yourself, and loved ones. This type of policy also typically includes liability, comprehensive and collision, and more.
RV Insurance
Who hasn't had the dream of selling off all your belongings and road-tripping around America in an RV? Your recreational vehicle can give you freedom and a home-away-from-home all-in-one. However, it's also a large investment. Ensure you have the proper coverage to protect your RV in case of damage, theft, or an accident.
Since an RV serves as a vehicle, you're going to need similar insurance that you would get with any auto policy. This includes collision and comprehensive coverage, personal injury and property damage liability, and uninsured motorist.
Florida Requirements
Florida has different insurance requirements for watercraft, AVT, UTV, and RV owners. Florida law requires RV owners to purchase personal injury protection (PIP), bodily injury liability (BIL), and property damage liability (PDL). However, it does not require individuals to purchase ATV, UTV, or watercraft insurance. Regardless of the state requirements, it's highly recommended to purchase these policies to help protect you, your loved ones, and your finances.
Owning a watercraft, ATV, UTV, or RV can take your outdoor adventures to the next level. It's important to ensure these recreational vehicles are properly insured to help protect you, your loved ones, and those around you. Whether you’re enjoying the lake, exploring off-road trails, or cruising the US backroads, make sure you’ve got the coverage you need to enjoy the ride. Contact our team today to ensure you’re ready for the next adventure.