Pontoons: Your Guide to Watercraft Insurance Coverage

Are you considering buying a pontoon boat to enjoy with family and friends? Pontoon boats are popular for a variety of reasons:

  • They are very stable and provide a smooth ride on the water. Pontoons are a great choice for families with young children or for those who want to sit back and enjoy the scenery!
  • Pontoon boats are spacious and can accommodate a large number of people, making them ideal for parties and other social events. 
  • They are also versatile and can be used for a wide range of activities, including fishing, water sports, and cruising. 
  • Pontoons are relatively affordable compared to other types of boats. They’re a popular choice for those who want to enjoy the water without breaking the bank.

If you own a pontoon boat, it's important to protect your investment with insurance. To help you make informed decisions about your coverage, American Integrity Insurance has curated this helpful guide to pontoon boat insurance.

Three Types of Pontoon Boat Insurance Coverage

There are three basic types of insurance coverage available for pontoon boats. Let’s review each. 

1. Liability Coverage

Liability is one of the most basic types of insurance coverage, and it's required by law in most states. It covers injuries or property damage you may cause while operating your watercraft. For example, if you accidentally collide with another boat and break their motor, your insurance will cover the cost to repair their watercraft (up to policy limits). Liability insurance typically includes coverage for bodily injury, property damage, and legal fees if you're sued.

2. Collision Coverage

Collision covers the cost of repairs or replacement if your watercraft is damaged in a collision with another object, such as another boat or a dock. This will pay for the cost of repairs up to the limit of your coverage, minus your deductible.

3. Comprehensive Coverage

Comprehensive provides coverage for a range of perils, such as theft, fire, vandalism, and natural disasters. It covers the cost of repairs or replacement up to policy limits if your pontoon boat is damaged or destroyed by a covered peril.

Enhance Coverage with an Umbrella Policy

Umbrella coverage is additional liability insurance that provides an extra layer of security above the limits of your homeowners, auto, watercraft, or other insurance coverage. Generally, there is a minimum liability requirement for the underlying policy. After the liability coverage for the underlying policy has been exhausted, your umbrella insurance kicks in (up to policy limits). Having an umbrella policy can better protect your assets (savings, 401K, college funds, your home, etc.) in case an accident in your pontoon boat leaves you in hot water. 

Here is an example of when umbrella insurance for your pontoon boat could be needed:

You cause an accident and the cost of the injuries you cause to others is $500,000. If the bodily injury limits on your watercraft insurance are $300,000, how will you cover the remaining $200,000?

That’s where your umbrella insurance policy comes in. It will cover the amount above the liability limit of watercraft insurance policy, up to the limit of your umbrella policy. Without umbrella coverage, you will have to come up with the remaining funds yourself.

How are Insurance Rates Determined for Pontoon Boats? 

Insurance premiums for pontoon boats are calculated through a variety of factors. Some of the most common factors include (but are not limited to): 

  • Age
  • Driving record
  • Claims history
  • Location
  • Boating experience
  • Type of coverage
  • Amount of coverage
  • Whether your pontoon is stored or trailered 

Many insurance companies offer discounts to help you save money on premiums. For example, American Integrity offers watercraft insurance discounts including: 

  • A multi-line discount if your primary residence is insured with us
  • Florida Certified Safety Course
  • United States Power Squadron Safety Course 
  • United States Coast Guard Auxiliary Safety Course 
  • United States Coast Guard Captain's License

The watercraft insurance policy that best fits your needs depends on numerous factors. Contact an experienced American Integrity agent today to determine the best pontoon boat insurance in Florida for you.

Tips for Finding the Best Pontoon Boat Insurance 

As a proud pontoon boat owner, it's important to select the right insurance coverage to protect your watercraft. But with so many insurance providers in the market, it can be overwhelming to find the best coverage for your needs. Here are some tips to assist you in shopping for a watercraft policy:

  1. Compare carriers: Don't settle for the first insurance policy you come across. Take the time to research different insurance providers and compare their rates and coverage options. This can help you find a policy that fits your budget and provides the coverage you need.
  2. Bundle your policies: American Integrity offers a discount when you bundle your primary home/condo and watercraft policies. This can help you save money on your overall insurance costs.
  3. Consider your coverage needs: When choosing an insurance policy, make sure you're getting the coverage you need. This includes liability coverage in case of an accident, as well as coverage for damage to your boat and any personal property on board.
  4. Look for discounts: Many insurance providers offer discounts for things like safety features on your boat, completion of a boater safety course, or having a high insurance score. Be sure to ask about any potential discounts that could help lower your insurance rates.

Pontoon boat insurance from American Integrity is the best way to protect your watercraft, bank account, and your family, especially when paired with an umbrella policy. Our Watercraft coverage is designed for vessels up to 30 feet in length, including center console boats, bass boats, pontoons, cruisers, and more! We also insure personal watercraft like Jet Skis, Waverunners, and Sea-Doos! Contact an agent today to learn more about pontoon boat insurance in Florida