One of the upsetting things you hear in the boat insurance industry is someone saying “I don’t need insurance.” Too many boaters cancel their coverage once their loan is paid off and coverage is no longer required. Only two states require boat insurance so many boaters cancel theirs as soon as possible. People think that because they are safe and experienced that they don’t need any additional protection on the water. The truth is that boat insurance is just as important as car insurance. Here’s why you should never go out on the water without it.
You learn one thing very quickly working in boat insurance claims. No matter how experienced or cautious you are, you can’t protect yourself against the carelessness of others or the wrath of nature. Inexperienced boaters who don’t tie their boats properly, storms, thrill seekers creating huge wakes or worst of all, drunk drivers. It is not until you find out that another party at fault for your damage has no insurance that you regret not having your own boat insurance.
Does this sound familiar? We’ve all had a car accident that wasn’t our fault or know someone in a similar situation and hope the other driver’s insurance will take care of everything. If not, you always have your insurance to fall back on. But everyone is required to carry car insurance. This is not the case on the water and could leave you with an inoperable boat and a big repair bill.
If your boat is damaged in an accident you know the most you have at risk is the price of the boat in a total loss, and less if it’s a partial loss. Where you really need protection is if a guest slips and falls aboard your vessel, is injured while fishing or water skiing, or if you collide with another boat and injure a passenger. You could be responsible for medical bills and personal liability in amounts much greater than the value of your boat. This is reason enough to at least maintain a liability boat insurance policy.
There is a bounty of losses and accidents that can happen. If you won’t drive without car insurance you shouldn’t navigate without boat insurance. The investment in your boat and is worth the small price of insurance coverage for peace of mind to protect your property and yourself. Don’t believe it? Check in with SkiSafe Insurance today and decide for yourself once you know the true price of boat insurance.
Have an experience where boat insurance protected you? Leave a comment and let us know!