There are few more alluring natural mysteries on Earth than the sea itself. Oceans and seas cover more than 70% of the planet, and have inspired writers and artists and explorers alike. Greek art and poetry was influenced by the dual nature of the sea, calm one moment and ferocious the next, and it plays a huge role in Homer’s epic poem The Odyssey. Odysseus’ journey is hailed as one of the true masterpieces of literature—but if he attempted that journey today and once again found himself shipwrecked, his greatest fear wouldn’t be Lotus Eaters or Cyclops, but boat insurance rates in Florida.
Shopping for FL Boat insurance can be difficult but finding quality insurance is by no means impossible. Here, then, are four tips to help you on your own insurance-shopping odyssey.
- Specialization is your Friend: There are hundreds of translations of Homer’s epic available, but the opening lines, in whatever iteration or language they’re translated into, retain the same concept—“Sing in me, Muse, of that man Skilled in all ways contending.” Odysseus is a flawed hero, but from a purely-physical standpoint, he has all the tools. Strong, smart, fast, agile, he’s got it all. While Odysseus might be a paragon of physical perfection, however, in today’s world, sports teams specialize. Look at any NFL team, and some players are on the team because they’re fast, some are there because they’re exceptionally muscular, some are adapt at catching, kicking, passing, etc. What can this teach us about boat insurance in FL? Simply put, the insurance industry today follows more closely to the example set by the NFL than the Ancient Greeks and emphasizes specialization. There are entire companies which focus on just plane insurance, some which focus on just Florida motorcycle insurance, some which are particularly interested in insuring and appraising vintage cars, and so on. As such, when looking for quality boat insurance Florida, you don’t necessarily want to just stick with your general insurance company, as better plans and more experienced adjusters may be waiting for you in a company which specializes in boat insurance.
- Actual Cash VS. Agreed Amount: Once you choose your company, you’ll want to decide between two basic policy types, Actual Cash or Agreed Amount. Actual Cash pays for the cost of replacement parts (minus depreciation) and if your boat is a complete loss, a guide may be used to determine what your boat was worth. By contrast, Agreed Amount plans are (appropriately enough) predicated on a pre-agreed amount between yourself and the Florida insurance company on value of your boat and/or its parts (again, adjusting for depreciation.)
- Determine what Kind of Coverage you Need: There are a wide variety of potential forms of coverage. These include: Physical Damage Coverage, Personal Effects Coverage, Boat Liability, Uninsured Boat Owners Coverage, Medical Liability Coverage, Commercial Towing Coverage, Salvage Coverage, and Spillage Coverage.
- Google is your Friend: Use Google to search both for companies and their quotes, as well as for sites which rank companies.