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Floating the idea of purchasing a boat, jet ski, or watercraft? Protecting your boat or watercraft is just as important as the purchase price. In this week’s blog, Mitchell Insurance Agency will cover what watercraft insurance is, what it covers and the top 5 tips insuring your watercraft or boat.

So, what is a watercraft insurance policy and what does it cover? Simply put, it’s insurance designed to specifically cover your person watercraft such as jet skis (highly popular in Florida) and boats. Often referred to or known boat and personal watercraft insurance covers a plethora of as Watercraft insurance is an insurance policy that provides coverage for boats and personal watercraft. Watercraft insurance, also known as Florida boat and personal watercraft insurance protect a number of risks based on your type of watercraft the way that Florida auto insurance policies cover different types of vehicles.

Before you plunk down that down payment, here are the top five things to remember when getting the right Florida insurance coverage on your watercraft.

1.  Safety first – Boating safety course can not only keep you and others safe but in most cases provides a discount on the policy.

2.  Don’t assume your Florida homeowners’ policy covers it. And even if it does, may not cover you while you’re out on the water.

3.  Understand the coverages – while most cover liability, property damage, and physical damage, they may not include medical payments, towing or personal effects. Consider items such as fishing tackle, life jackets, and other expensive items that were on the boat.

4. Know the way the value is determined:  Agreed value, actual cash value or replacement cost.

5. Check out your options. Got questions? Reach out to Mitchell Insurance Agency for answers!