Understanding the Insurance Requirements of SB606 for Boat Rental Operators in Florida

As a boat rental operator in Florida, it is important to understand the insurance requirements of SB606, also known as the Boating Safety Act of 2022. This state bill has significant implications for boat rental operators, including both commercial and peer-to-peer operators, and failure to comply with the insurance requirements can result in legal consequences and financial liability.

So, what are the insurance requirements of SB606 for boat rental operators in Florida? Here is a comprehensive overview:

1. Minimum coverage of $1,000,000. SB606 requires boat rental operators to have a minimum of $1,000,000 in insurance coverage for rented equipment. This means that if an accident occurs while the equipment is being rented, the insurance policy will cover any damages up to $1,000,000. It is important to note that this coverage must be in place at all times while the equipment is being rented.
2. Insurance must meet specifications set under SB606. In addition to the minimum coverage requirement, SB606 sets out specific requirements for the insurance policy that boat rental operators must obtain. These requirements include coverage for personal injury, property damage, and other liabilities that may arise in the course of renting equipment. It is important to work with an insurance provider that is familiar with the requirements of SB606 and can help you secure a policy that meets these specifications.
3. Insurance must be in place at all times while equipment is being rented. As mentioned earlier, it is important to make sure that the insurance policy required under SB606 is in place at all times while the equipment is being rented. This is necessary to protect both the renters and the boat rental operator in the event of an accident or other unforeseen event.
   By understanding and complying with the insurance requirements of SB606, boat rental operators can help ensure the safety of their renters and protect their own businesses. It is important to work with an insurance provider that is familiar with the requirements of SB606 and can help you secure the necessary coverage.
   In addition to the insurance requirements, SB606 also requires boat rental operators to obtain a no-cost livery permit from the Florida Fish and Wildlife Conservation Commission, deliver pre-rental safety and operational instruction to renters, report any accidents or unnecessarily overdue rentals to the FWC, and display boating safety information in a place visible to the renting public. By understanding and complying with all of the requirements of SB606, boat rental operators can help ensure the safety of their renters and protect their own businesses.