Our Protection Package
Buoy’s usage-based protection package, designed to protect renters and rental companies during the rental, gives you peace of mind when you set sail. Moreover, Buoy’s insurance policy ensures that livery operators comply with the Florida Boating Safety Act of 2022 (SB606), requiring insurance coverage to be at least $500,000 per person and $1,000,000 per occurrence.
Buoy Usage-based Insurance Policy
We're here to ensure your trips are well-protected with our tailored Usage-based Insurance Policy underwritten by Markel Insurance Company. This policy is designed for commercially insured boats and provides comprehensive coverage throughout the bareboat rental period. The Usage-based Insurance Policy offers substantial liability protection, including:
Up to $500,000 per person
Up to $1,000,000 per occurrence
Both renters and Boat Rental Companies are protected.
Summary of coverages
Call 1.800.362.7535 or Contact us
How it works for Boat Rental Companies
1. Register your boats
As a boat owner or operator, you can easily register your boats by providing necessary details such as the vessel's name, type, size, and registration information. This step ensures that your boats are properly listed within the Buoy system, allowing for efficient management and tracking.
2. Acquire your FWC permit
Once your boats are registered, you'll need to obtain the required FWC (Florida Fish and Wildlife Conservation Commission) permit. The FWC permit is essential for compliance with local regulations and enables you to legally operate your boats.
Buoy simplifies this process by guiding you through the necessary steps and providing relevant information to obtain the permit efficiently – free of charge!
3. Welcome aboard and get assistance from a Buoy specialist
After completing the registration and acquiring the FWC permit, you are ready to enjoy the benefits of Buoy. A Buoy specialist will contact you to ensure a smooth transition and help you make the most of the platform.
Key terms
Here are some of the most common terms we use
“Bareboat rental period” means the time that the "renter” is responsible for the “covered vessel”, and that can be verified electronically between the renter’s check-in and check-out or the member certificate.
“Renter” means a person who rents or charters the “covered vessel” through a Livery as defined by section 327.54, Florida Statutes, that receives a permit under Florida law.
“Covered vessel” means the vessel listed in the Declarations Page and shown in the Member Certificate, including its spars, sails, rigging, tackle, fittings, machinery and equipment necessary for safe operation and maintenance of the vessel. "Covered vessel" shall not include any vehicles which are manufactured, designed, marketed or used as amphibious automobiles, or “personal watercraft”.
“Insured” is defined as follows:
- A livery as defined by section 327.54, Florida Statutes, that has received a permit as required by Florida law for any “covered vessel,” during the “bareboat rental period;” and
- A “renter” who has paid premium for a “bareboat rental period” and has been issued a Member Certificate.
“Livery” means the person or entity, who offers the “covered vessel” for charter by the “renter” pursuant to the livery agreement and section § 327.54, Florida Statutes, provided that the “livery” has received an approved Livery Permit for the “covered vessel” during the “bareboat rental period.”
"Bodily injury" means bodily harm, sickness or disease, except a disease that is transmitted through sexual contact. Bodily injury includes required care, loss of services and death resulting from covered bodily harm, sickness or disease.
"Occurrence" means an accident, including continuous or repeated exposure to substantially the same general harmful conditions, during the “bareboat rental period” which results in:
a. “Bodily injury;” or
b. “Property damage.”
"Oil pollution incident” means the sudden, accidental and unexpected emission, discharge, release, leakage, escape or spillage or a contaminant from a “covered vessel” in an accident that is specific in place and time within the “bareboat rental period.”
“Claims expenses” means the reasonable and necessary fees and expenses authorized by us and incurred in the investigation and defense of a claim for “bodily injury”, “property damage”, or Pollution/Marine Environment damage to which this insurance applies, including, but not limited to, attorney fees, court costs, expert and witness fees.
“Pollution” means the actual, alleged or threatened discharge, spillage, leakage or emission directly from the “covered vessel” of oil, fuel, petroleum products or other hazardous substances, as those terms are defined in the Oil Pollution Act of 1990 (as amended), and the Comprehensive Environmental Response, Compensation and Liability Act (“CERCLA”)(as amended).
"Property damage" means: Physical damage to tangible property during the “bareboat rental period”. For the purposes of this insurance, electronic data is not tangible property.
As used in this definition, electronic data means information, facts or programs stored as or on, created or used on, or transmitted to or from computer software, including systems and applications software, hard or floppy disks, CD-ROMs, tapes, drives, cells, data processing devices or any other media which are used with electronically controlled equipment.