Boat Insurance

[Big Green Machine]

A 10 year old girl was killed in a boating accident on Okanagan Lake Friday. It got me thinking about my boat insurance. This may like a stupid question, but when I pay $500 for my annual policy I know this covers theft, damage etc. But does it include liability in case I am deemed at fault for an accident while on the water that causes damage to property or person or even worse, death. The little girl was killed when a 21 foot pleasure craft ran into the jet ski where she was a passenger. I know I will need to check, but what about all you boaters out there, do your insurance policies have liability or this something you need to pay extra? I know I'm covered while my boat is on the trailer obviously.

 

[cletus]

Mine covers me for 3 million liability.

 

[speydog]

3 mil. liability costs me about $100. my opinion, every boater should be required to carry it. maybe not that much but some, even a mil. shouldn't cost more than a few bucks.

 

[wolf]

Under the shipping act all you need is 1 mil anything above is a waste of money as under that act 1 mil no matter how many people sue is the ceiling thats it they/who ever if they do sue 1 mil is the max.

 

[cheech]

Which is ironic as, the gov't run boat basin in Ukee, requires charter operators to have 2 mil in liability.

 

[scott craven]

I have a liability clause for my boat under a rider on my home policy.
Cost me $50 a year.

 

[tubber]

I have a liability clause for my boat under a rider on my home policy.
Cost me $50 a year.

Do you have other boat insurance for theft of boat, theft/loss of gear, sinking etc... Or is that liability rider your only insurance? Just curious as I have a new to me boat worth about $6000 and need to deal with insurance yet. Previous owner only insured the trailer.

 

[scott craven]

Do you have other boat insurance for theft of boat, theft/loss of gear, sinking etc... Or is that liability rider your only insurance? Just curious as I have a new to me boat worth about $6000 and need to deal with insurance yet. Previous owner only insured the trailer.

I insure the trailer only ,if my boat was more valuable i would carry theft,fire,etc.
but at $400-500 a year for premiums , in ten years you've almost paid for another boat ?

 

[tubber]

thanks, r.s. I'm in a similar situation, but do need to get the liability taken care of especially in light of some of the things that take place on Okanagan Lake.

 

[wolf]

Most marinas now wont give you moorage if you dont have insurance... Shiat scott if we all thought that why do we need to pay insurance for a car then when its only worth thousand bucks????LOL LOL
seriously though I hate it as well try my insurance costs!!!!

 

[scott craven]

Most marinas now wont give you moorage if you dont have insurance... Shiat scott if we all thought that why do we need to pay insurance for a car then when its only worth thousand bucks????LOL LOL
seriously though I hate it as well try my insurance costs!!!!

It's a little different on the road Roy
if i had a yacht like yours it would be insured !
I don't have a huge investment, and trailer it
so it's in my yard most of the time.

 

[speydog]

they may just take your house. lesser of two evils, liability insurance.

 

[scott craven]

they may just take your house. lesser of two evils, liability insurance.

Yep, got that !
(read back)

 

[Big Green Machine]

Is it mandatory to even insure a boat for the basics - damage and theft?

 

[finaddict]

Is it mandatory to even insure a boat for the basics - damage and theft?

not mandatory from a MOT or Coast Guard perspective that I am aware of. Its only mandatory for rational intelligent thinking people to have some sort of liability insurance on a boat. For morons its entirely optional ;-)