Parametric resonance in floating bodies presents a complex nonlinear dynamic problem with significant implications for offshore engineering, wave energy systems, and naval architecture. Addressing the computational challenges inherent in modelling such phenomena, this paper introduces an innovative analytical model that incorporates position dependence into the hydrodynamic coefficients for the wave excitation force, enabling conventional analytic hydrodynamic models to be augmented and recast into a form akin to the Mathieu equation. Originally conceived for analysing heave-to-heave Mathieu instability in floating bodies, this research extends the model's applicability to the investigation of heave-to-pitch Mathieu instability, thereby broadening its utility in understanding the nonlinear dynamics of marine structures. The effectiveness of the model in capturing parametric resonance is substantiated through a comparison with the results from a high-fidelity, computationally expensive, nonlinear Froude-Krylov force model. The proposed model boasts a speed advantage of over 1000 times compared to the nonlinear Froude-Krylov force model, while also offering the considerable benefit of facilitating analytical investigation methods. The capacity of the model to generalize appears promising, as the extension to a 2 Degrees of Freedom system demonstrates favourable outcomes.