Obtaining temporary boat insurance is likely a good idea if you rent a boat for an adventure on the water. When envisioning a yachting expedition, you probably think about sunny skies, clear water, and the breeze in your sails. Nobody wants to think about the potential of an accident or an incident that may result in property damage, but unfortunately, it happens. Securing a temporary boat insurance policy can shield you from liability and allow you to enjoy your cruise worry-free. Find out why you should get insurance on your rental boat.
Benefits of Temporary Boat Insurance
Any experienced boater knows that sailing comes with certain risks. Inclement weather, choppy waters, and drowning are just some potential dangers that exist away from shore. Boat insurance is the best way to address threats like these and prevent possible financial consequences, but if you’re renting a boat, you might not have Mariners yacht insurance to rely on. A temporary boat insurance policy benefits boaters by providing short-term coverage for boating excursions.
Boat-Related Damages Can Be Costly
Many boaters assume that they don’t need insurance coverage for a boat rental, but the opposite is true. Skimping on temporary boat insurance may save you a small sum in the short term, but the cost of coverage is a small fraction of the expenses that an accident can incur. One study reports that recreational boating accidents that result in injury cost an average of $114,000. It’s certainly a worthwhile investment to secure boat insurance, no matter how short your trip may be.
Boat Insurance Usually Doesn’t Cover Rentals
You may already have boat insurance for your yacht, and you assume it covers a rental, too. Some types of Mariners yacht insurance may include coverage for rentals, but in most cases, this isn’t true. A standard boat insurance policy will consist of coverage only for the vessel that your policy specifies. It means that you will need a temporary boat insurance policy to provide additional protection for your rental. You can usually get this kind of policy through the same insurer that provides your standard coverage.
Boat Accidents Are Always a Possibility
Another critical factor to consider is the probability of a boating accident. Over a year, more than 2,600 people may suffer injuries from boating accidents. This statistic reflects the fact that accidents and injuries are always a possibility. Even if you are only planning to enjoy your boat rental for a few hours, you need to account for the potential risk of a collision — and temporary boat insurance is the most effective way to do so.
Protect Yourself With Temporary Boat Insurance
In addition to shielding boaters from the cost of property damage and injuries, temporary boat insurance can help you recoup costs if you experience an accident with another boater who does not have an insurance policy. Some jurisdictions may legally mandate boaters to carry coverage for boat rentals, and noncompliance can come with fines or citations. Safeguard yourself from liability by investing in coverage.
About Mariners Insurance
Mariners General Insurance Group was founded in 1959 to protect boat owners and marine business clients. We are marine insurance experts and insure boats worldwide – in every ocean on the planet. Marine insurance is critical if you own a boat or nautical business. Trust the professionals with all of your Boat Insurance needs – trust Mariners Insurance. Call us at (888) 402-5018 any time you have questions or concerns about insurance for your vessel or marine business.
