Boat & yacht insurance

Looking for boat insurance in Florida or Kentucky? Asshield™ is an independent agency with offices in Fort Walton Beach and Lexington. We compare boat insurance and yacht insurance options for runabouts, center consoles, pontoons, bass boats, sailboats, jet skis, and larger yachts, and we explain how each policy handles value, liability, storms, and towing.

Fort Walton Beach office: 139 Beal Pkwy SE, Suite 203, Fort Walton Beach, FL 32548 · (850) 684-0164
Lexington office: 2240 Executive Dr, Ste 103, Lexington, KY 40505 · (859) 368-0162

Boat insurance carriers we compare

Carriers we compare for these lines include Liberty Mutual, Progressive, GEICO, and Travelers. State availability varies, so we confirm which ones can quote you. For larger boats and yachts, we also work with specialty yacht insurance carriers.

Agreed value vs. actual cash value

This is the first thing to check on any boat quote. An agreed value policy sets the hull value up front, so a covered total loss pays that agreed amount, less any deductible. An actual cash value policy subtracts depreciation at the time of the loss, which can leave a gap on an older boat. Some policies mix the two, for example agreed value on the hull but depreciation on engines or sails. Read which basis applies to each part of the boat.

What a boat policy usually includes

• Physical damage to the hull, motor, and equipment from covered causes such as collision, fire, theft, and storms.
• Liability if you injure someone or damage another boat, dock, or property.
• Medical payments for people hurt aboard.
• Uninsured boater coverage, for injuries caused by a boater without enough insurance.
• Towing and on-water assistance if you run aground or break down.
• Fuel spill and wreck removal, which can be required after a sinking.
• Personal effects and fishing equipment, often with limits.
• Trailer coverage. Your auto policy may extend liability while towing but typically not damage to the trailer or boat, so confirm it.

Neither Florida nor Kentucky generally requires boat insurance by state law, but marinas, storage facilities, and lenders usually do, and many will want to be named on the policy.

Boat insurance in Destin and Fort Walton Beach

On the Emerald Coast, boats live on lifts, in dry stack, at marinas around Destin Harbor and Choctawhatchee Bay, or on trailers in driveways. Carriers ask where the boat is kept, whether you run offshore into the Gulf, and how far. Expect questions about:

• Hurricane plans. Many coastal policies ask for a written plan: haul-out, moving to a hurricane hole, or securing on a lift. Some offer help with haul-out costs when a named storm threatens. Terms vary, so read them before June. For your home or condo on the water, see flood insurance on the Panhandle.
• Named-storm deductibles, often higher than the standard deductible.
• Navigation limits for bay, coastal, and offshore use.
• Charter or rental use, which a personal policy generally excludes.

Keep a boat on Tampa Bay or a Central Florida lake? We serve those areas by phone and online too; for the home side, see Tampa Bay home, condo & flood and Central Florida home insurance.

Boat insurance in Kentucky

Kentucky boaters spend weekends on Lake Cumberland, Kentucky Lake, Lake Barkley, Herrington Lake, and Taylorsville Lake. Questions we hear: houseboats and slip rentals, winter lay-up periods when the boat is out of the water, trailering on I-75 and the Parkways, and pontoons with large outboards. A lay-up period can reduce what you pay on some policies, but the boat usually isn't covered for use during that time.

Jet ski and personal watercraft insurance

Jet skis and other PWCs often fall outside homeowners coverage, especially for liability on the water. A PWC policy can cover the craft, liability, and guests who ride it. More on our jet ski insurance page.

Yacht insurance in Florida and Destin

Yacht insurance is written differently from a small-boat policy. For larger vessels in Destin, Fort Walton Beach, and along the Florida Gulf Coast, expect these parts:

• Hull and machinery, usually on an agreed value basis, covering the vessel, engines, generators, and electronics.
• Protection & indemnity (P&I), the marine version of liability, for injuries and damage you're legally responsible for.
• Navigation limits that define where the yacht may go: Gulf coastal waters, the Keys, the Bahamas, or farther. Leaving them can void coverage.
• Named-storm and hurricane plans, often including where the yacht must be during hurricane season.
• Crew coverage if you employ a captain or crew, since maritime law can create liability to them.
• Tender and dinghy coverage, and pollution liability.

Carriers will ask about survey reports, captain experience, and marina or lift details. Searching for yacht insurance Florida or yacht insurance Destin? Call the Fort Walton Beach office and we'll check which specialty markets fit your vessel.

Ways to lower your boat insurance premium

• Compare several carriers for the same value and limits.
• Choose a deductible you could pay after a claim.
• Complete a boating safety course where a carrier gives credit for it.
• Keep the boat on a lift or in dry storage if a carrier rates for it.
• Use a lay-up period if you don't boat in winter.
• Bundle with home or auto when it comes out ahead.

Related: specialty hub · RV insurance · umbrella · flood.

Questions we hear

Is boat insurance required in Florida or Kentucky?

State law generally doesn't require it for private recreational boats, but marinas, storage facilities, and lenders often do.

What is agreed value boat insurance?

The hull value is agreed when the policy starts, so a covered total loss pays that amount less any deductible, instead of a depreciated value.

Does homeowners insurance cover my boat or jet ski?

Often only in a limited way, and liability on the water is commonly excluded or limited. A boat or PWC policy is usually needed.

What is P&I on a yacht policy?

Protection and indemnity is the liability part of a yacht policy, covering injuries and damage you're legally responsible for, sometimes including crew.

Educational only — not a quote, not legal advice, and not a coverage guarantee. Coverage, eligibility, and pricing are set by each carrier and vary by ZIP, property or driver details, and underwriting. Talk with a licensed Asshield™ agent about what fits your situation.