A boat is a luxurious and pleasurable piece of property, which many would love to have, but only a few can afford. Owning one is such a huge investment and for sure, you would not want to loose your investment. Protect yourself from losses coming from theft or damage on your boat, it is thus best to get a boating insurance to protect your precious investment.
Boating insurance is available from any insurance companies, however, to ensure your boat is properly secured, you need to get boating insurance from a reputable insurance company that specializes in boating insurance and other marine properties.
If you are able to save enough to buy a boat, you need to also be sure to save enough to acquire boating insurance to protect it from possible loss or damage.
There are boating insurances that will ensure you will be able to replace the boat if the manufacturer failed to deliver a useful and properly built boat, or in cases of theft or damaged caused by external factors.
Acquiring the boating insurance will provide you with peace of mind, and thus you will enjoy sailing and cruising onboard your boat without having to worry because you have a boating insurance to indemnify you in any case.
Sailing or cruising is not without any danger, and you will not be able to acquire a boating insurance that will ensure you will not suffer from accidents or possible damages. Boating insurance will only protect you from monetary losses in case of accident while onboard your boat or theft of your boat.
Boating insurance will also cover your boat against liability losses. Any damage to another boat or the boating dock and even for bodily injury or death to another person coming from the use of the boat is also covered by your boating insurance.
Boating insurance also covers people on board the vessel provided the person is not a crew of the vessel.
It may be worthy to mention at this time that the coverage of the boat against physical loss or damages needs to come from external causes. If somebody who works on the boat causes the damage, the boating insurance will need to establish that the damage is not intentional before it even considers the claim as valid.
As mentioned before, the insurance coverage for third party injuries may only affect those who are not crewmembers or employees of the boatyard.
If the injury happens to a crewmember, then the Federal Longshore and Harbor Worker’s Compensation Act must apply.
The example of those people who get onboard that are not member of the crew would be mechanics, carpenters, painters, and most importantly, guests. They are protected from injury while boarding or getting off the boat.
Accidents and thieves may steal your precious boat from you; the boating insurance will protect you from this. Ensure that you understand the boating insurance policy.
This will ensure that you understand the liabilities and the coverage that will fit the need and the use of your vessel. Especially for those who use the vessel for their business, the boating insurance is necessary to protect your boat, your business and yourself as you conduct your activities aboard your boat.
In dealing with your boating insurance, do not miss reading the fine prints in the policy, this may be very important because the insurance company may put in there conditions that will ensure they will not pay your coverage. Scrutinize the contract a bit to ensure you will continue to enjoy the services of your boat.