Precautions in Watercraft Insurance

2007-03-08 10:33:40

( Insurance )



Watercraft magazine and watercraft world magazine provides a watercraft rentals database in which you could check if you are interested in renting a boat. But don’t forget that watercraft rentals provide minimal watercraft insurance. To give you security over future damages, you can obtain personal watercraft insurance and get one policy to serve all your needs and consequently reduce your cost of coverage.

Because laws requiring watercraft insurance are less strict, uninsured boaters cause a big problem for watercraft insurance just as uninsured drivers are a problem for car insurance. The corresponding coverage is then commonly found in most boat owners policies. It is similar to the uninsured motorists coverage provided by personal auto policies.

The insurance company consents to pay the damages that you are legally entitled to recover from the uninsured owner or operator of another boat, which is because of bodily injury received aboard your boat. Uninsured owner or operator would include someone who cannot be identified.

Just like on an Auto Policy in which uninsured motorist exclusions can be found, a number of uninsured boater exclusions are also included in these policies. And this uninsured boater coverage does not apply to the following:

• claims resolved without the company’s written consent;
• a governmental body owned uninsured vessel;
• any vessel owned by or furnished for the regular use of any family or insured member;
• any insured while using a vessel without any permission;
• your own boat while it is being charted; and
• any loss wherein there exists no evidence of physical contact between your watercraft and either a hit-and-run or an uninsured craft.

You can not also get paid twice for the same loss under the liability coverage of the policy and the uninsured boater coverage.

Don’t forget that you are the one to choose your limits for this watercraft insurance coverage, and the watercraft insurance company will not cover more than the amount for all the injuries occurring out of any one event or accident, despite of the claims made, or vessels involved, or number of persons injured.


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