Should I Add Dock Insurance To Boat Insurance?

Should I Add Dock Insurance To Boat Insurance?
For many Florida residents, a big part of the convenience of owning their own boat is owning their own dock to go with it. Protecting yourself against property damage and liability suits via boat insurance may be only part of the equation. Protecting your dock is important too!
Here are three major considerations when it comes to taking good care of your boat dock, insurance wise:

1. Florida Can Be High Risk For Boat Docks
During our state’s frequent hurricanes and tropical storms, docks can easily be damaged by wind, waves, and water borne debris that is crashed into them at full force. Additionally, your boat or jet ski, if tied to the dock, may rock violently against it even when properly secured in intense weather – damaging vessel and dock alike.

Finally, if your boat or someone else’s accidentally hits the dock, it could easily suffer expensive impacts. And there’s also the risk of storm surges and lightning strikes. All this risk calls for some kind of proactive protection.

2. Flood & Home Insurance – Do They Cover Docks?
The National Flood Insurance Program almost never covers boat docks. Seawalls, bridges, wharves, piers, and bulkheads are also typically excluded. This is just not part of what flood insurance is designed for.

It’s a different story when it comes to homeowner’s insurance. Basic home policies won’t cover them, but they can be included if you have a detached structures rider on the policy. Normally, such structures are covered at 2%, 5%, or 10% of the main structures coverage limit.

However, all home policies won’t cover the dock for all the possible ways it could be damaged, like a dock insurance policy might. Plus, if your dock is not directly on your premises, that can cause complications too – though they may not be insurmountable.

3. Get Dock Insurance With Your Boat Insurance
Some insurers may offer to cover your dock and your boat both, and give you a bundling discount. This coverage may be a part of your homeowner’s policy or a completely separate policy. It all depends on your insurer and on your particular needs.

Note that many dock insurance policies have certain exclusions, such as total collapse of the dock into the water, destruction or damage through freezing/thawing. They do typically cover fire, lightening, and boating accident damage and the like.

If you are renting a dock/pier, then you may just need boat insurance but with some extra riders for moving your boat to a safe location just before a named storm and to protect your boat trailer. If you do have a dock at your home or vacation property, however, it is worth protecting. You can normally get adequate coverage at a very reasonable rate.

For more information on how to customize the best possible boat insurance policy and/or dock insurance policy, contact Flagler County (FL) Insurance Agency today to speak with an experienced agent!