Buoy insurance for Boatsetter trips
Boatsetter partners with Buoy to offer trip-based insurance coverage, ensuring all Boatsetter trips are protected and optional insurance is available when needed.
Buoy is a trip-based rental insurance company offering a wide range of coverage. Boatsetter partners with Buoy to provide insurance for all peer-to-peer trips on the platform, and also offers optional supplemental renter’s insurance in compliance with Florida’s statutory livery insurance requirements. It covers both the Guest and the boat during the booking period.
Buoy coverage is supported by Markel American Insurance Company and Bolt*.
Buoy peer-to-peer insurance coverage
Boatsetter partners with Buoy to offer an exclusive Peer-to-Peer Rental policy that insures recreational Owners and their Guests, providing seamless protection for Boatsetter trips.This coverage is designed for Owners without a commercial policy who want to rent their boats on the Boatsetter platform. It is required for Owners listing their personal boats and is added on top of a recreational policy, enabling peer-to-peer use for a fee.
Buoy’s Peer-to-Peer Rental policy meets Florida's statutory livery insurance requirements.
Buoy renter’s insurance coverage
Boatsetter also partners with Buoy to offer optional, trip-based insurance coverage to Guests booking with one of our commercial operators on an eligible boat. Guests can add this supplemental renter’s insurance coverage during checkout—for a nominal fee—without leaving the platform.Buoy’s renter’s insurance policy meets Florida's statutory livery insurance requirements.
What’s covered?
You can find full details on coverage, limits, and general policy information on Buoy’s website.Deductible
For each trip, Buoy’s obligation to pay for, repair, return, or replace damaged or stolen property will be reduced by a $5,000 deductible. In most cases, the deductible is the Guest’s responsibility.*Coverage is provided by Markel American Insurance Company (NAIC #28932, Glen Allen, VA) and underwritten by Markel Service, Incorporated, national producer license # 27585[, in California d/b/a Markel Insurance Services, license # 0645481]. Bolt Agency is a licensed insurance producer in all 50 states and the District of Columbia (CA license no. 0G93017; FL license no. L067337; NY license no. 1146433; TX license no. 1617771).
Got questions?
I’m a boat owner and want to rent my boat, what insurance do I need?
If you are a recreational owner looking to rent their personal boat for peer-to-peer rentals, you must have your own commercial charter insurance policy or you can use Buoy’s Peer-to-Peer Rental policy through Boatsetter.
If you are a commercial operator or owner that has a commercial charter insurance policy for renting your boat, you only need to make sure your insurance policy provides at least $1,000,000 in charter liability coverage and meets applicable federal, state, and local regulations. If you’re a commercial operator or owner in Florida, you can use Buoy’s renter’s insurance policy through Boatsetter to meet Florida’s statutory livery insurance requirements established by SB606.
I’m a boat owner, how do I get the insurance I need?
Through Boatsetter! We’ve automated the process of securing the right insurance through Buoy. Once you complete your listing, your boat will be reviewed and, if approved, enrolled in the correct policy as needed. Listing with Boatsetter is free, fast, and easy.
What is a peer-to-peer (P2P) boat owner?
A peer-to-peer (P2P) boat owner is someone who lists their personal boat for rent on an online marketplace such as Boatsetter. Peer-to-peer boat owners utilize Boatsetter to communicate with and receive booking requests from pre-screened renters, manage their calendars and boat listings, and process payments.
Unlike commercial boat operators (such as boat rental companies, yacht charter agents, fishing charters, and boat clubs) that provide their own commercial rental insurance, peer-to-peer boat owners are covered by Boatsetter’s exclusive partnership with Buoy.
I’m a renter, why do I need renter’s insurance?
Safe waterways are key to having fun on the water! Boatsetter requires rental operators to carry insurance that complies with federal and local regulations, including Florida’s statutory livery insurance requirements.
Guests are not required to purchase renter’s insurance for commercially insured boats, but it is strongly encouraged. For peer-to-peer insured boats, insurance is required and automatically added to your booking.
I'm a renter, where do I purchase renter's insurance for my boat trip?
Buoy is built into the Boatsetter booking flow. When you book:
- If it’s a peer-to-peer trip, coverage is required and will be automatically included.
- If it’s a commercially insured trip, you’ll have the option to add supplemental renter’s insurance during checkout—for a small fee.
No extra steps needed—just book and go.
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