Florida boat insurance: what it is and what to look for

Agreed value vs. actual cash value

Agreed value pays an amount set when the policy starts. Actual cash value accounts for depreciation at the time of loss. Ask which one your quote uses.

Deductibles

Most policies have a deductible for covered damage. Some have a separate, often percentage-based, deductible for named storms.

Common exclusions to read

• Wear and tear, rot, corrosion and gradual damage
• Racing or commercial use unless added
• Use outside the navigation area listed on the policy
• Unlisted operators, where the policy restricts who can drive

Coverage depends on the policy, the insurance company and underwriting approval.