Understanding the Difference Between Boat and Yacht Insurance

While both boat and yacht insurance may provide financial protection for your vessel, there are key distinctions between the two. Generally, boat insurance is designed for smaller, less complex watercraft typically under 26 feet in length. Yacht insurance, on the other hand, is for larger, more valuable vessels that often travel farther from shore and may require broader coverage.

How Do They Differ in Coverage?

Boat and yacht insurance can be customized to include various types of coverage. These are some of their key distinctions:

• Boat insurance policies may cover physical damage, liability for injuries or property damage, medical payments and sometimes towing assistance. Coverage is often limited to inland and coastal waters.
• Yacht insurance may provide broader coverage, including higher liability limits, coverage for crew members, extended navigation territories and specialized options like pollution liability or personal effects coverage.

Are These Policies Required?

Florida does not mandate boat or yacht insurance by law, but many marinas, lenders and storage facilities require proof of coverage. Additionally, the risks associated with Florida’s weather and busy waterways make having these policies essential for local owners.

We’re Here to Help

Our experienced team at Iron Rock Insurance can help assess your needs, discuss policy differences and recommend customized coverage. Contact us today to learn about your options and get personalized guidance from our Florida marine insurance specialists.

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.