Fort Lauderdale Boat Show: Sunshine, Boats, and a Raccoon Tan

This year’s Fort Lauderdale Boat Show was one for the books! Between the sun, the boats, and meeting so many fantastic people in the industry, it was an unforgettable experience. I flew down on Monday, October 28th, and by the end, I was sporting a full raccoon tan (yes, I forgot to reapply sunscreen and wore sunglasses all day!). Add in a half-mile walk back to my hotel in a Florida downpour, and it was an adventure from start to finish.

Here’s what I learned from my time at the show:

Boat Insurance Market Update: Positive Developments Ahead

Over the past few years, the marine insurance market has faced challenges with limited options and high prices, especially in hurricane-prone areas. But this year, I’m happy to report that things are looking brighter! On Tuesday, I met with several insurance carriers, and here are the key updates:

• New and Expanding Carriers: Fresh players are entering the market, and established carriers are expanding their appetite. One carrier known for insuring quad-engine center consoles is planning to increase their maximum hull limit to allow more boats! This change is a game-changer for the Florida market, where high-value, multi-engine boats are in demand.
• Rate Adjustments in the Great Lakes: As carriers look to diversify away from hurricane-heavy areas, one major player is planning to adjust its rates in the Great Lakes region to be more competitive. This is excellent news for boaters in Michigan, Ohio, and other Great Lakes states, as it means more options and potentially lower premiums.
• Travelers’ New Boat 2.0 Product: Travelers is set to launch its Quantum Boat 2.0 product in Ohio on November 17, bringing another strong option to the table for local boaters. The addition of this product is a great step toward broadening affordable, quality coverage for boat owners.
• Hurricane Exclusions Persist: While the market is opening up, some areas still come with hurricane exclusions. However, if you don’t need hurricane coverage, there are now far more flexible and competitive options available.

The message from the carriers was clear—they’re open for business with the right insurance partners. At On The Water Marine, we’re exactly that partner, bringing them business across 14 states, not just concentrated in Florida. Carriers appreciate our strong presence in the Great Lakes region and our balanced portfolio, which helps us stand out as a valuable, reliable partner. This reach allows us to offer our clients unique access to programs and coverage options that other agencies may not have, creating more competitive choices for boat owners

Boat Sales & Financing: A Buyer’s Market

On Wednesday, I spent the day exploring the show floor and meeting with boat manufacturers, yacht brokers, and finance companies. And the great news? It’s a fantastic time to buy a boat! With inventory available and brokers and dealerships eager to make deals, the post-COVID frenzy has settled into a more “normal” boat-buying landscape.

Considering financing? Check out Apex Yacht Finance

While at the show, I had the pleasure of meeting Michelle Bellosi from Apex Yacht Finance. Michelle and her team are fantastic—knowledgeable, professional, and truly committed to finding the best financing options for boat buyers. Here’s what sets Apex apart:

• Multiple Lenders: Apex works with a variety of lenders to find competitive rates, which have recently dropped below 7%.
• Specializes in Boats Over $100,000: They focus on financing larger boats, whether for personal use or charter.
• Professional Team: Their team is highly experienced, making the process smooth and efficient.

And when you choose to finance with Apex, don’t forget to insure with us at On The Water Marine. We work closely with them to make sure you’re fully covered and ready to enjoy your new boat with peace of mind.

Iguana Yachts’ Amphibious Boat: A Real Showstopper

One of the unique highlights this year was seeing Iguana Yachts’ amphibious boat in person. This isn’t just any boat—it’s a vessel that can drive right up onto the beach! Iguana Yachts has created a seamless blend of luxury and versatility, perfect for the adventurous boater who wants it all.

A Raccoon Tan, a Rainy Walk, and Endless Opportunities

Between the sunburn, raccoon tan, and an unexpected rain-soaked trek back to the hotel, the Fort Lauderdale Boat Show was one to remember. The marine industry is alive with new opportunities, and it’s the perfect time to dive into boat ownership or upgrade your insurance. With fresh options in the Great Lakes, new products from top carriers like Travelers, and a buyer-friendly market, there’s no better time to explore your options.

Whether you’re ready to buy a new boat, need financing, or want to update your insurance, On The Water Marine is here to help you every step of the way. So, if you’re ready to make a splash, reach out anytime—I’d love to hear about your boating plans!