RedactedNarrative: V1 was put in the water at Joe's Bayou Boat Ramp. V1 had two people on board. V1 was operated southwest towards the back of Joe's Bayou. The occupants noticed a static sound coming from what they believed were the speakers on board the vessel and began smelling smoke. The battery light on the helm of V1 indication low voltage. The vessel was turned around and operated back towards Joes Bayou Boat Ramp. V1 was right of the end of the Boat Ramp when the operator removed the starboard rear battery hatch cover and smoke began to pour out. The operator emptied an onboard fire extinguisher into the hatch. V1 began smoking profusely. Occupants on board V1 jumped into the water at this point for there safety and swam to Joe's Bayou Boat Ramp. V1 engulfed into flames. Destin Fire responded and extinguished the fire. V1 was secured at the boat ramp. Total loss estimated to be around $120,000 in damages. Owner stated there had been recent repair work done at a marina for faulty audio speakers and a trolling motor had been installed. All evidence points toward an electrical issue stemming from the battery bank or wiring.