Charter Boat Insurance in Florida

Types of Six-Pack Charter Boats We Insure:

Wallace Welch & Willingham insures two types of charter boats: owner-operated six-passenger charters and six-passenger charters with a hired captain. These boats are not required to be U.S. Coast Guard certified. Some smaller boats may opt to carry fewer passengers. The charter policy states the maximum number of passengers and crew the underwriters agree to cover.

Fishing Charters & Sightseeing

Some fishing charters take customers offshore for an elevated angling experience. A sportfishing boat often ventures 50 miles or more into open water, which increases exposure to rogue weather conditions. Inshore and sightseeing charters generally stay in shallower, and calmer waters. Fishing guides and tour operators need insurance coverage to address their specific exposures.

Yacht Charter Insurance

For operators of high-end vessels, yacht charter insurance addresses the unique valuation of luxury experiences. We connect you with premier marine underwriters to protect your high-value asset against damage and liability claims.

>> Thinking of scaling your fleet? We make it easy to transition into broader commercial marine insurance. We structure comprehensive programs that protect multiple vessels, marinas, and related marine business operations from catastrophic financial loss.

What Charter Boat Insurance Covers

Charter boat insurance includes two core coverages: Hull and Machinery (physical damage for the vessel) and Protection & Indemnity (3rd party liability coverage). Charter operations need both, along with crew coverage if they employ a captain or deckhands.

Protection & Indemnity Coverage

Watercraft liability, sometimes listed as protection and indemnity, covers third-party bodily injury and property damage. It applies when the insured vessel is involved in a boating accident in which a covered operator is at fault.

Bodily injury coverage pays for medical costs, lost wages, sickness, or death related to the accident, along with legal fees and recompense for pain and suffering. It responds if you’re found negligent for bodily injury to others. Property damage coverage pays for damage to other boats, property, and structures, and responds if you’re found negligent for damage to others’ property. P&I also typically includes pollution liability insurance, which covers cleanup costs and legal liability from a fuel or oil spill.

Hull & Machinery Coverage

Hull and machinery coverage helps pay for repairs after a covered loss. It is designed to cover direct, sudden and accidental damage from perils such as weather events, collisions, theft, vandalism, and fire. Your policy defines the coverage, terms, conditions, and exclusions that apply to hull and machinery claims, so review it carefully with your advisor.

Crew Coverage and the Jones Act

As a boat owner, you are responsible for the people who work for you as captain or crew. If an injury happens during their duties, the key question is whether they’re covered.

Crew coverage protects you, the vessel owner, if a crew member sues for a crew claim. It’s usually a separate endorsement to your charter policy, with an additional premium based on the total number of crew members. Do not hire crew until this coverage is in place. Crew members injured due to negligence can recover damages under a federal statute called the Jones Act. If you employ captains, mates, deckhands, or other onboard staff, we recommend reviewing your Jones Act exposures with a Wallace Welch & Willingham marine insurance advisor.

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Coverage Options at a Glance

Your charter charter boat insurance coverage options may include:

Physical damage on an agreed value basis
Protection and Indemnity liability and pollution coverage
Professional angler liability
Medical payments coverage for passengers regardless of fault
Personal property coverage
Towing
Tournament costs coverage
Navigation limits based on usage
Trailer coverage
Optional coverage for your crew

These protections give charter boat owners operating for hire real peace of mind on the water.

Bareboat Fleet Insurance for Owner-Operators

When you own and operate a bareboat charter fleet, you carry both the owner’s and the operator’s risk at once. No outside vessel owner holds a separate policy to share the loss, so your fleet program must cover every angle. Wallace Welch & Willingham structures fleet coverage as one coordinated program rather than a stack of disconnected policies.

Coverage Considerations for an Owner-Operated Fleet

Coverage Area	What the Operator Must Insure	Why It Matters When You Own the Fleet
Fleet Hull & Machinery	Every vessel on one fleet schedule with a bareboat charter use endorsement	No outside owner holds a separate hull policy, so the fleet policy is the only physical damage cover.
Named Insured Structure	The operating company and each entity that holds title (for example, one LLC per vessel)	Fleets often split ownership across entities for liability or financing reasons.
Lenders / Loss Payees	Mortgagee and loss payee clauses for financed vessels	Fleet financing usually requires specific insurance terms, which may include a breach-of-warranty clause.
Protection & Indemnity	Third-party bodily injury and property damage liability (a sub-limit may apply to captain/crew coverage)	The operator is liable as both owner and operator, with no second policy to share the loss.
Deductible Structure	Per-vessel deductibles, plus any fleet aggregate or catastrophe deductible	Deductibles are generally a percentage of the hull limit per vessel. Higher storm, theft, or lightning deductibles may apply.
Navigation & Seasonal Warranties	The navigational limits specified, plus any warranties throughout the policy or endorsements	Breaching navigation limits or a policy warranty may void coverage.
Wreck Removal & Pollution	Generally provided within protection and indemnity	The vessel owner is responsible, so these coverages matter.
Commercial General Liability & Commercial Auto	Base premises or office if applicable, plus company-owned vehicles	Guests and vendors are on the operator’s premises every day. These are additional policies.
Hired & Non-Owned Auto	Liability for rented vehicles and employees using their own cars on company business	Staff run errands, pick up parts, and drive guests in vehicles the company doesn’t own, and the company can be held liable for those accidents.

Find out if you have the right quantity and quality of charter boat insurance.

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How Much Is Charter Boat Insurance?

There’s no single answer to what it costs to insure a charter business. Your premium depends on your boat’s size, how often you run trips, your crew count, and the coverage you select. More specifically, the cost of charter boat insurance may be influenced by:

Vessel value and whether coverage is written on an agreed value basis
The type of vessel, from a smaller fishing boat to a premium yacht
The kind of trips you run, such as fishing charters, sightseeing, or excursions
Passenger count
Crew count and Jones Act exposure
Navigation territory, including coastal use in Florida
Requested coverage options
Claims history
Chosen deductible
Extra endorsements like fishing gear or crew protection

When comparing policies, review both the premium and the protection. The least expensive option rarely addresses your full insurance needs. Speak with a Wallace Welch & Willingham marine insurance advisor to review your coverage limit options.

Part-Time and Full-Time Charter Operations

Whether you run charter operations part-time or year-round, Wallace Welch & Willingham offers versatile coverage at competitive rates. Operators at different stages need different coverage. An owner-operator running local harbor cruises for fewer than six passengers may run an incidental operation but still need higher liability limits. A year-round offshore operator usually needs broader navigation limits, higher limits, and crew coverage. A guide-led operation may want higher liability plus coverage tailored to fishing guides, including fishing gear coverage and tournament-related activities.

Luxury Yachts with Charter

Some luxury yacht policies include charter use with an approved captain in command during the trip. This type of charter may run voyage plans from several days to a week at a time, and it often calls for higher liability limits, broader passenger protections, specialized coverage for furnishings and onboard amenities, and careful review by experienced marine underwriters. If your operation includes upscale guest experiences, private celebrations, or complex scheduling, talk with a marine insurance advisor to confirm your current insurance policy matches your actual exposure.

>> Looking for comprehensive coverage? Explore our private client services for complex portfolios.

Make Sure You Have the Right Coverage for Your Charter Boat

With a customized protection plan from Wallace Welch & Willingham, you can focus on exceptional water journeys instead of what-ifs. As a full-service insurance agency, we pair high-level customer service with competitive charter boat insurance rates. Our experienced advisors build tailored coverage to protect your vessel, crew, and passengers.

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Charter Boat & Fleet Insurance

Set sail with coverage that meets your needs.