Ahoy! Insurance, a technology-focused marine insurer, has expanded into Florida. This move targets Florida’s large boating community with flexible, customer-focused insurance.
The state has the world’s largest concentration of boaters, making it a key market for marine insurers. Rising demand for better coverage, coupled with traditional insurers increasing premiums and limiting options, has created a need for alternatives.
Ahoy! Insurance enters at a critical moment, offering comprehensive, technology-driven policies. The company, founded by boaters for boaters, simplifies marine insurance with easy policy management, risk-reduction tools, and a user-friendly platform for consumers and agents.
The insurer now provides two flexible options: a government-backed policy and an Excess & Surplus (E&S) plan for larger vessels or those beyond traditional coverage limits. Policies cover boats up to 95 feet long and valued at up to $2.5m.
By streamlining coverage selection, Ahoy! Insurance helps consumers and agents find suitable policies at competitive rates.
Its technology-driven approach sets it apart. Acting as a single-source platform, it removes the need for multiple brokers. A fast onboarding process allows boat owners and agents to access and adjust coverage quickly. Built-in risk-reduction tools enhance safety, giving policyholders more confidence on the water.
Florida is the epicenter of recreational boating, and our entry into this market represents a significant milestone for Ahoy! Insurance
Bob Jones, Ahoy! Insurance’s VP of Distribution and Business Development
“Our ease of quoting is refreshing and provides peace of mind with coverage designed for both policyholders and agents,” said Bob Jones.
As an E&S broker, Ahoy! Insurance also simplifies the process for agents, eliminating the need to seek alternative coverage when clients are turned down elsewhere.
Since November, one agency has reported a 40% increase in its close ratio, with similar results seen across other firms. The company’s rapid expansion highlights strong demand for its model in Florida’s marine insurance market.
Ahoy! Insurance, established in May 2021, secured $9 mn in seed funding in November 2021. The investment round attracted five investors, including Saban Ventures, 83North, MS&AD Ventures, Pitango VC, and Greenlight Re.
This growth follows the launch of its yacht underwriting program, which expanded coverage to larger vessels nationwide. The latest move aligns with its broader goal of modernising marine insurance with flexible, technology-focused solutions.
