Motor Boat Insurance – Updated

by Allan Hanlen on August 24, 2013

There are two basic parts of an average motor boat insurance coverage; physical damage and liability as available from companies such as The physical damage portion includes accidental loss and destruction to the boat along with its machinery. This not simply insures the motor and hull but even the sails along with some other equipment which is aboard and contributes in one way or another to the functioning of the vessel.

The liability (sometimes referred to as protection and indemnity) section takes care of all legal responsibilities to 3rd parties. This liability could arise from damages caused to somebody else’s property, physical injury or loss of life which is as a result of the ownership and/or the operation of your motor boat. In case you get charged for a liability included within your boat insurance policy, liability coverage covers all costs involved such as legal charges, paying for your lawyers and so on.

Physical damage cover usually protects the cost you might have throughout the restoration of your motor boat when it is damaged by a number of accidents. Boat owners are recommended to go for comprehensive (all risk) insurance policies. In these instances, if the cause of damage is not exclusively stipulated there is no need to fret as it will be covered nevertheless.

In a typical case, motor boat insurance firms offer cover for weather-related dangers like wave action, wind, lightning, rain damage and loss due to vandalism, theft, collision with a boat dock, floating or immersed objects and even other boats. The type and range of risks insured differ from one insurance company to a different one; evaluate 3 or more companies to see what they’ve got to present. Word of advice: for even more insurance, consider a policy that continues to cover your vessel whilst it is in transit on the highway or whilst it’s located on land.

There are many additional packages that come beneath the liability section of boat insurance. These include disposal or getting rid of wrecks. You can be charged for failure to get rid of a wrecked boat especially if it’s considered a danger to navigation. If you’re going to borrow a friends boat, make sure you’ll get the ‘non-owned’ boat liability cover. Because you’re responsible for any containment and clean up expenses that may be as a result of an oil spillage or any type of oil pollution brought on by your boat, ensure that the motor boat insurance insurance plan that you pick includes this particular liability.

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