It’s easy as 1, 2, 3.
Step 1: Register your fleet
Create an account and register your boat(s). You can get started on your own or schedule a demo with one of our specialists. Depending on your fleet size, it shouldn’t take more than 15 minutes!
Step 2: Renter buys insurance
Have the renter go to Buoy’s website and sign up. From there, the renter answers a few questions before purchasing insurance directly from our mobile-friendly website. They receive a confirmation email including their certificate of insurance along with claims information.
The renter can purchase coverage ahead of time or down at the dock. Whatever is easiest for you and your customers!
Step 3: Get peace of mind
That’s it! You get to run your business with peace of mind knowing that you and your renters are protected, while also complying with Florida state requirements for insurance.
Nope! Feel free to BYOB(S) - bring your own booking system.
If you’re on Boatsetter or Stellar, renters will have the option to purchase insurance directly at checkout.
Want us to integrate with your booking system?
We’d love to do that. The easiest way to speed up the process is for you to reach out to your booking system provider and ask them to support Buoy insurance.
We’re ready when they are - with APIs and developer-friendly documentation.
Here are four ways Buoy is different from other solutions on the market:
1. Renter coverage: most insurance policies do not cover the renter. We do.
2. Compliance: The policy meets all requirements of the Florida Safe Boating Act of 2022 (SB606).
3. Renter pays: the cost of insurance is passed to the renter.
4. Bring your own booking system: you can use your own booking system and don’t have to switch in order to use Buoy.
Buoy offers liability insurance that covers both the renter and the rental company during the rental period. Most commercial annual policies do NOT cover the renter and that’s where Buoy comes in. Buoy dovetails your existing policy to include renter coverage during the rental period.
In fact, to use Buoy, we require you to have an existing commercial hull insurance policy that protects your boats when they’re not being rented out.The Buoy policy also meets all requirements of the Florida Safe Boating Act of 2022:
- Admitted coverage
- Protects both the renter and livery'
- Limits up to $500,000 per person, $1M per occurrence
- Liability that could include damage to the rented boat
For the boat rental company, it's completely free to use Buoy since the cost of insurance is passed to the renter.
How much does the renter pay?
The price/premium per trip will be different based on factors such as the duration of the charter, season of the year, boat type, and the age of the renter. On average, Buoy insurance is less per rental-period than rental car insurance, U-Haul insurance, or RV insurance.
No.
Buoy covers the livery and the renter during the rental period only and as an owner/operator of the boats you'll want the boats covered by your existing policy even when they are not being rented.
It depends!
We assess each rental operation and boat individually, but we generally look for:
1. Newer boats (10-15 years old max)
2. No large boats (> 89 feet in length)
3. Boats with an existing annual policy in place (hull coverage)
4. An operation that follows best practices for safety
Not yet!
But, you can sign up for our waitlist to be among the first to know once we’re ready.
Sign up here
No. The person who submits the insurance application must also be the one driving.
Insurance can be purchased for multi-day trips.
Certainly!
The policy meets all requirements of the Florida Safe Boating Act of 2022:
- Admitted coverage
- Protects both the renter and livery
- Limits up to $500,000 per person, $1M per occurrence
- Liability that could include damage to the rented boat
You can submit a claim via our digital intake form here.
