A Complete Guide to Choosing the Best Boat Insurance Policy

boat insurance

Boat ownership is an exciting, rewarding, and enjoyable experience for many individuals and families. From exploring local waterways to casting off on fishing trips, our boats bring us countless memories and adventures. However, while these nautical pleasures are experienced on the open water, it’s essential to think about safeguarding your investment with the right boat insurance policy. 

Boat insurance is an essential aspect of responsible boat ownership, offering coverage for a range of unforeseen events. From damage or theft to personal injury and liability, having the appropriate insurance policy in place provides you with the financial protection and peace of mind you need when enjoying your time on the water.

At Bassine Insurance, we understand the importance of protecting your watercraft, and that’s why we’ve put together this comprehensive guide to help you navigate the world of boat insurance. In this guide, we’ll cover the primary types of boat insurance policies available, the factors that influence policy costs, and the various coverage options you should consider when selecting a policy that meets your unique needs. We’ll also discuss the importance of comparing policies and working with an established insurance agency, such as Bassine Insurance, to ensure you’re fully informed and receiving the best possible coverage for your boat.

Understanding the Types of Boat Insurance Policies

To make an informed decision about the best policy for your needs, it’s essential to familiarize yourself with the different types of boat insurance policies available. The two primary types of boat insurance policies are “agreed value” and “actual cash value.”

Agreed Value Policies: These policies offer coverage based on an agreed-upon value of the boat at the time the policy is issued. In the event of a total loss, the insurer will reimburse you for this pre-determined value, regardless of depreciation or market fluctuations. However, agreed value policies generally have higher premiums due to the higher level of protection provided.

Actual Cash Value Policies: In contrast, under an actual cash value policy, your insurance payout in the event of a total loss will be determined by the current market value of the boat, factoring in depreciation. Though these policies usually have lower premiums, they may leave you with a payout that’s lower than the amount required to replace your boat or make necessary repairs.

Factors That Influence Boat Insurance Costs

Numerous factors can impact the cost of your boat insurance policy, affecting both your premium and the extent of coverage provided. Some key factors that influence boat insurance costs include:

  1. Type and Make of Boat: Larger, more powerful, or high-performance boats will typically have higher insurance premiums due to the increased risk of damages or accidents.
  2. Age and Value of Boat: Older boats may require more maintenance and be more likely to encounter issues, resulting in higher premiums. Additionally, newer boats with a higher market value will require more coverage and thus may have higher insurance costs.
  3. Boating Experience: If you are an experienced boater with a clean history of boating accidents, you may qualify for lower insurance premiums as insurers deem you a lower risk.
  4. Location and Usage: Where you plan to use your boat and how often you’ll be using it can also impact insurance costs. Some areas may be deemed higher risk due to factors such as crime, weather, or navigational hazards, leading to higher premiums.

Exploring Coverage Options for Your Boat Insurance Policy

When selecting a boat insurance policy, it’s crucial to consider the various coverage options available to ensure that you’re adequately protected in the event of an incident. Key coverage areas to evaluate include:

  1. Physical Damage Coverage: This coverage protects your boat from damage caused by a wide range of perils, such as storms, collisions, theft, or vandalism. Ensure that your policy includes comprehensive coverage for all potential threats.
  2. Liability Coverage: In the event of an accident that causes injuries or property damage to others, liability coverage can help cover the costs associated with damages, legal fees, and medical expenses.
  3. Medical Payments Coverage: This additional coverage can help with medical expenses resulting from injuries sustained by you, your passengers, or others involved in a boating accident.
  4. Uninsured/Underinsured Boater Coverage: If another boater causes an accident and doesn’t have adequate coverage to cover the damages, this insurance can help cover your expenses.

Comparing Policies and Working with an Insurance Agency

To ensure that you’re selecting the best boat insurance policy for your needs, it’s important to compare policies from different insurance providers. Additionally, working with an established insurance agency like Bassine Insurance can provide valuable, tailored guidance and support throughout the process, helping you make an informed decision.

An experienced insurance agent will be able to review your specific boating needs, assess potential risks, and suggest coverage options that are best suited for your situation. Additionally, they can help you find discounts and savings that may be available based on things like safe boating education, boating experience, or loyal customer status.

Lowering Your Boat Insurance Premiums

There are several ways to potentially lower your boat insurance premiums without sacrificing the quality and extent of coverage:

  1. Practice safe boating habits and maintain a clean boating history, as a good track record can result in lower premiums.
  2. Complete safety courses and gain certifications from organizations such as the United States Coast Guard or the American Boating Association, which can help you qualify for discounts.
  3. Install safety features and tracking devices on your boat, such as alarms or GPS, as they can reduce the risk of theft, lowering your premium.
  4. Consider adjusting your deductible, but ensure that you can afford the higher out-of-pocket expenses in the event of a claim.


Selecting the right boat insurance policy involves understanding the types of policies available, assessing relevant factors that influence policy costs, evaluating various coverage options, comparing policies, and working with a trusted insurance agency. With a well-rounded understanding of boat insurance and the support of an experienced agent like those at Bassine Insurance, you can confidently set sail, knowing that your prized watercraft is protected.

Are you looking for comprehensive watercraft insurance coverage? Look no further than Bassine Insurance, the premier boat insurance agency in Fort Myers. Our team of experts is dedicated to providing you with the best possible coverage options for your watercraft, including liability and fishing accessories.

With Bassine Insurance, getting a free quote from multiple carriers has never been easier. Simply fill out the online form on our website, and our team will work with you to find the perfect coverage options to fit your unique needs. Contact Bassine Insurance today and experience the difference that comes from working with the best in the business.

Here Are Some Boat Insurance Myths You Need to Know!

boat owner

Boating is one of the most popular recreational activities worldwide. Whether you are a seasoned sailor or a beginner, owning a boat can be an exhilarating experience. However, just like owning a car or a house, owning a boat comes with unique risks. That’s where boat insurance comes in. It protects you from financial losses due to damage, theft, or liability issues. Unfortunately, boat insurance is not well understood by many boat owners.

Here are the top boat insurance myths you need to know.

1. Boat Insurance Is Not Necessary

Many boaters believe that boat insurance is unnecessary, especially if they have a small boat or only use it occasionally. However, accidents can happen anytime and anywhere. Even the most experienced boaters can encounter unexpected situations resulting in significant financial losses. Boat insurance can protect your investment and give you peace of mind.

2. Homeowner’s Insurance Covers My Boat

Many homeowners assume that their homeowner’s insurance policy will cover their boat. However, most homeowner’s insurance policies have limited coverage for boats. They usually cover small boats with low horsepower and low value. If you have a bigger boat or a more expensive boat, you need a separate boat insurance policy to protect it adequately.

3. Boat Insurance Is Too Expensive

Many boaters believe boat insurance is too expensive and not worth the cost. However, boat insurance premiums are based on many factors, such as the type of boat, its value, the navigational area, and the coverage limits. You can find affordable boat insurance that fits your budget with proper research and comparison shopping.

4. Boat Insurance Only Covers Damage to My Boat

Boat insurance covers more than just damage to your boat. It also covers liability issues, such as injuries to others or damage to their property caused by your boat. It can also cover medical expenses, salvage costs, and towing expenses. Some policies even offer coverage for pollution liability and wreck removal.

5. Boat Insurance Only Covers Accidents on the Water

Boat insurance covers more than just accidents on the water. It also covers theft, vandalism, and damage while your boat is in storage or transported. Some policies even cover hurricanes, earthquakes, and other natural disasters.

6. Boat Insurance Is Not Necessary If You Only Use Your Boat for Personal Use

Many boaters believe that boat insurance is not necessary if they only use their boat for personal use. However, accidents can happen anytime, even during recreational use. If you invite friends or family members aboard your boat, you are responsible for their safety. Boat insurance can protect you from financial losses due to accidents or injuries.

7. You Don’t Need Boat Insurance If You’re a Safe Boater

Even the safest boaters can encounter unexpected situations resulting in significant financial losses. Boat insurance can protect you from these losses, regardless of your safety. Additionally, many marinas and waterways require boaters’ insurance before entering the water.


Boat insurance is an essential part of owning a boat. It can protect you from financial losses due to accidents, theft, or liability issues. Understanding the facts about boat insurance and dispelling any myths you may have heard is essential. By doing so, you can make an informed decision about the right coverage for your needs.

Protecting your investment with the right boat insurance policy is crucial as a boat owner. The Bassine Insurance Agency, a specialized boat insurance agency, offers various insurance products to fit your needs. Contact us today!

Auto Insurance vs. Boat Insurance: What are Their Differences?


Boat and car insurance are two different insurance policies designed to protect you financially should you become involved in an accident or experience other damage while operating a vehicle. While they may look similar on the surface, some important distinctions between the two are important to consider before purchasing an insurance policy.

At the most basic level, car insurance is designed to protect a driver and their car in case of an accident. This coverage includes medical expenses incurred due to an accident, as well as property damage and liability for any other person injured in the accident. 

On the other hand, boat insurance is designed to cover the boat itself in case of an accident, as well as any liability the owner may face if their boat causes injury or damage to someone or something else.

Boat Insurance Can Be Purchased for an Agreed Value

Another key difference between car insurance and boat insurance is that boat insurance can be purchased for an agreed value. This means you can purchase your boat’s coverage for a pre-determined amount, regardless of its actual market value. 

This is especially important if you have a newer boat that may be worth more than its book value. On the other hand, car insurance is typically based on the vehicle’s actual market value.

Boat Insurance Can Be Suspended

Another key difference between car insurance and boat insurance is that boat insurance can be suspended. This means that you may be able to suspend your coverage for some time if your boat is not in use. This can be a great way to save money if you don’t plan on using your boat for an extended period. Car insurance, on the other hand, typically must be in effect at all times.

Boat Insurance is Not Required

Unlike car insurance, boat insurance is not required by law in most states. This means you are not legally obligated to purchase coverage for your boat. However, it is still highly recommended that you do so to protect your investment. Additionally, some lenders may require you to purchase boat insurance if you are financing the purchase of your boat.

Why Boat Insurance Is Just As Important As Car Insurance

Boat insurance is just as important as car insurance for many of the same reasons. It provides financial protection if you are involved in an accident and can help to cover the costs of repairs if your boat is damaged or stolen. Additionally, it can help to protect you if another person sues you due to an accident involving your boat. Ultimately, boat insurance can provide peace of mind and help to ensure that you are financially protected in the event of an accident or other unforeseen circumstances.

The Bottomline

Boat insurance and car insurance have a lot of similarities but also a few key differences. Boat insurance is typically more expensive than car insurance due to the risk of property damage, theft, and liability from a boat. Boat insurance also covers personal property and navigation gear that are not included in a car policy. It is important for boat owners to consider the different coverages available and to consider the risks associated with operating a boat before purchasing an insurance policy.

Bassine Insurance is a boat insurance agency. We also offer a wide range of insurance products. Get in touch with us.

Money-Saving Tips You Need to for Your Boat Insurance

Boat Insurance

Making a budget and cutting back on expenses may help you get back on your feet financially after a season of spending a lot of money. Indeed, it is easy to spend more due to family vacations, celebrations, and the holiday season. This may even ring truer for those who own or have purchased boats and have the necessary insurance coverage they need to pay.

Now, the start of a new year is typically accompanied by a dose of realism. Read on to discover some money-saving tips you need to cover your boat insurance expenses.

Tip #1: Remove Any Unnecessary Coverage

Examine the terms of your insurance policy or seek advice from an expert. The worst kind of bill is one for something you no longer need. It’s possible you’ve changed your policy.

It’s likely you purchased the policy with the intention of operating the boat all year. During the months of April, Summer, and September, you are mostly able to use the watercraft. Make a price reduction request for winter layups.

Consider your present position and how you use your vehicle to determine whether you need to modify your insurance coverage.

Tip #2: Make a Discount Request

In addition to the option of storing the boat for the winter, insurance discounts may be available. Today, discounts are available for recreational boat insurance. Common examples include:

a. Safety Courses

If you successfully finish a boating safety course, you should see a reduction in the cost of your boat insurance.

b. Accident-Free Driving Record

Your boat insurance costs may be reduced if you have no moving offenses on your driving record.

c. Passable Waterways

Boat insurance prices may be lower in places with a greater number of inland waterways. This discount is only accessible to individuals who insure their recreational boats with a national provider.

d. Non-Winter Usage

Your boat insurance premiums may be reduced if you store your boat during the winter months. Ensure your boat is properly shielded from the elements while being stored or transported. Going without insurance for even a brief amount of time during the year is unwise.

e. Multi-Craft

You will save money if you cover much watercraft under one insurance. If you insure both your boat and your personal watercraft (PWC) with your current insurer, you should be eligible for a multi-vessel discount.

Tip #3: Safety First

Any claim, no matter how slight or substantial, raises the cost of boat insurance. By practicing safe navigation, insurance premiums might be minimized.

If the damage is minor, you may want to consider paying for it yourself rather than filing a claim. Multiple claims may result in a large increase in rates.

To prevent getting into a situation like this, always observe the standards for safe sailing. There will be fewer injuries and claims. Attend a boating safety instruction program. This course will educate you on how to operate a boat safely and may result in a discount on your boat insurance.

Tip #4: Purchase a Low-Cost and Insurable Boat

The price for your boat insurance will be adjusted differently based on the type of watercraft you own. The cost of insuring expensive, fast vessels is higher than the cost of insuring secure, modestly priced vessels.

Tip #5: Adjust and Raise Your Deductible

Raising your deductible may wind up saving you money on your insurance costs in the long run. The deductible is the amount of damage to your boat that you are responsible for paying out of pocket. The remaining, up to the policy limits, is the insurer’s obligation.


Thankfully, it is never too late to plan ahead of time, minimize costs, and improve your current financial situation, regardless of whether you have previously overspent. With these tips applied to your current financial journey, you will no longer have to deal with the difficulty of making your boat insurance payments.

Are you looking for a boat insurance agency? Bassine Insurance Agency is here to assist you with a wide range of insurance products. Contact us today to learn more!