Smooth sailing with insurance

Aug 10, 2009

Miami Herald, 8/9/2009

With the summer season in full swing, the Insurance Information Institute advises recreational boat owners to assess whether they have adequate insurance coverage before hitting the high seas.

Standard boat policies typically cover damages resulting from a collision, fire or lightning. Theft and vandalism are covered perils also, as insured losses for boats can occur on land or in the water.

Moreover, many boat insurance policies provide coverage not only for the boat itself but also for its machinery, fittings, auxiliary equipment such as outboard motors and boat trailers, permanently attached equipment such as anchors — up to an agreed value — and personal property.

In addition, these policies often have provisions for: damage caused to someone else’s property; medical payments, for injuries to the boat owner and other passengers; bodily injury, for injuries caused to another person; and guest passenger liability, for any legal expenses incurred by someone using the boat with the owner’s permission, the Insurance Information Institute said.