When you have a boat, you are putting not only yourself at risk, but also others who are with you on the boat, as well as your personal property the boat. Accidents, storms, tides, recklessness, and more can mean injury or loss of your boat. That is why it is a necessity to carry some boating insurance coverage to be sure that your investment is taken care of, but other property and personal injuries, too.
No matter what the size of your boat, each and every owner needs to have some insurance coverage to protect themselves. If you hurt someone else on the water, you will be held responsible and this could mean a significant amount of cost to you, if you do not have insurance coverage. A monthly payment for your insurance can be much less expensive than paying for someones medical expenses or even other expenses, including pain, suffering, etc.
While insurance will cost some, imagine the money it could save if you are responsible for an accident and end up being at the wrong end of a lawsuit. Without boating insurance, you could be looking at losing everything.
The insurance that you choose will be dependent upon many different factors, including the type of boat, the size of the boat, the value, and what you may have added to it. While most policies cover the boats body, some insurance companies focus on damage to the mechanical parts of the engine. If you want to be sure that you are completely covered, you want to consult with your insurance agent to be sure that every part of your boat is covered in case of theft or accident.
Feeling the wind in your hair while boating on the open water can be a lot of fun, but if you want to be smart, you want to carry some kind of boating insurance. This will not only protect the investment you have made in your boat, but will also cover medical bills, property damage, and more that you could be faced with if you are involved in an accident.