Florida Boat Damage Lawyers
Many Florida residents own watercraft of some kind. Just because a boat is securely moored in advance of a hurricane’s arrival doesn’t mean it will escape significant damage. The force of hurricanes can overpower even the most carefully laid damage prevention plans.
Boats aren’t just a hobby for Floridians who love the nautical life; they’re also a massive investment. Without a fair payment on watercraft damage claims, boat owners often don’t have the funds to fully restore their craft or prevent existing hurricane damage from worsening.
The team at Kanner & Pintaluga is here to help if you’re struggling to obtain full recovery after a hurricane damages your boat.
What Does Boat Insurance Cover?
Boat insurance and auto insurance are similar in that policies can include both liability coverage and various types of property damage coverage (the boat equivalent of comprehensive coverage and collision coverage).
Property damage coverage is often limited to certain perils, one of which may be damage from hurricanes and storms. However, like home insurance in Florida, boat insurance policies generally have separate named-storm deductibles. You may be able to lower this deductible by paying higher premiums on your boat insurance.
If you have a boat in Florida, make sure you’re familiar with your policy’s named perils (these may also be listed as “all perils” in your policy). Anything not listed will be an excluded peril. Your claim may be denied if the source of your boat damage isn’t on the peril list.
There are also many additional types of watercraft coverage that can be added to policies, including:
- An expanded list of perils
- Damage to your personal property on the boat
- Medical payment coverage for owners and passengers
- Uninsured boat owner coverage (similar to uninsured motorist coverage)
- Towing coverage (similar to roadside assistance for cars)
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Common Types of Hurricane Damage Watercraft Claims
Retrieval or Salvage Claims – Even securely moored boats can be set adrift in a Florida hurricane. In some cases, these boats make their way onto what would normally be dry land. When storm surge recedes, they may be grounded.
Retrieval claims cover the cost of a retrieval company to go inland, put your boat on a truck and bring it to a repair facility or back to the marina.
Boats don’t always survive the process of being thrown on land, at least not in a state that makes repair feasible. Even if the boat is totaled, the boat owner will still be responsible for the cost of retrieving the boat and getting it delivered to a salvager.
Wreck Removal – Similar to the retrieval and salvage claims, wreck removals pay for the cleanup of your wrecked boat. Just because your boat is no longer useable doesn’t mean you no longer have any liability for its remains. You’ll still be financially liable for the environmental and safety hazards the wreck poses. Wreck removal will pay for the cleanup, up to your policy limits.
Fuel-Spill Claims – One of the common issues that arise for boatowners after a hurricane are fuel spills. As the owner, you will be liable for environmental damage and the cleanup cost for fuel spilled from your vessel during a named storm. Fuel-spill claims should help you recover money to pay for cleanup.
Don’t Deal with the Insurance Company Alone
Boats are a significant investment for many Florida families. Boat damage claim denials or undervaluation can result in massive out-of-pocket costs, especially on high-value watercraft. You don’t have to accept the insurance company’s initial assessment of your claim. Call the boat damage lawyers at Kanner & Pintaluga at 800-586-5555 for a free case evaluation.
Frequently Asked Questions
Technically no, but there are scenarios where you may be required to have boat insurance. For example, many marinas in Florida require boat owners who use their facilities to maintain insurance. You may also need to have insurance if you used your boat as collateral for a loan.
In general, boat owners in Florida are well served by investing in watercraft insurance. Hurricane damage to vessels can be hugely expensive, and it may be difficult to pay those costs out of pocket if your boat is uninsured.
The base named-storm deductible rate is often 10 percent of your boat’s value. If your boat is damaged while a named storm is in progress, you’ll need to pay 10 percent of your boat’s value in repair costs out of pocket before insurance will pick up the rest of your repair bill.
Your rates may go up if you file a boat damage claim, which is why many boat owners base their decision on the damage repair costs. If the repairs cost 11 percent of the boat’s valuation and you have a 10 percent hurricane deductible, it may make sense to pay the full repair cost yourself instead of filing a claim. However, if the repair bill is 20 or 30 percent of the boat’s valuation, filing a claim may be a no brainer.
It also depends on the value of your boat. The repair bill for a $100,000 boat may be drastically different than the cost of repairing a $5 million boat after a hurricane.
The 10 percent named-storm deductible is not your only option as a boat owner. It may be in your best interest to shop around your options and consider paying slightly more each month for a much lower hurricane deductible percentage.
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