“My boat isn’t worth that much, I don’t need any insurance.” Wrong, you are exactly the person who does need boating insurance.
I see them all the time. They buy a used PWC or a small fishing or pontoon boat. The law does not require insurance on a boat in my area. So, they decide to “save” a few dollars a YEAR and not get any boating insurance.
Then, something unforeseen happens and there is an accident. With no insurance, they are suddenly liable for an $80,000 speed boat; dock repairs; or someone’s hospital bills.
I have seen this happen, time after time:
I saw the seadoo owner who didn’t spot a swimmer in time to avoid hitting them and had no insurance because “it’s just a little seadoo”.
I saw the guy with the little fishing boat who was tied up at the marina when his 30 year old boat caught on fire and burned a large section of the dock AND caught EIGHT other boats on fire – his boat started it, he has to pay. But, he didn’t have insurance; because, HIS boat wasn’t worth more than a few hundred dollars.
I saw the pontoon boat owner who’s spark plug fouled and while he tried to get his motor going again, he drifted into the back side of a floating refueling platform. Once again, no insurance, the “boat isn’t worth much and it doesn’t go very fast”.
These are only a few of the people I have seen who thought they didn’t need boating insurance because:
A) their boat wasn’t worth enough to insure it, or
B) their homeowner’s policy would cover it (homeowners policies ONLY cover canoes, rowboats, kayaks, and SMALL boats with nothing larger than a 50 HP trolling motor)
These people lost everything they had saved and worked so hard for; because, they didn’t want to pay between $100 – $200 per YEAR for boat liability insurance.
People with new, expensive boats KNOW they need the insurance to protect their investment. But, other people need boatowners insurance to prevent legal actions, judgments, and liens when something does go wrong.
So, if YOU are one of those people who does not have boating insurance on YOUR boat; contact a local insurance agent and get liability coverage on your boat to protect you and your family from the courts and legal system if something goes wrong.