What is one of the best things to do in the summer time? For me, it is going out on the lake. Spending a day or two fishing, swimming, and riding around on a boat. However, being on a boat can be dangerous and you need to make sure that you and your property are covered in case an unexpected event happens. Even if you take every precaution and are as safe as you possibly can be, you can not control everything. The weather could change abruptly and cause you to lose control of you boat, or another boat could come along and hit you or make you hit something else. There really is no sure-fire way to stay 100% safe while out on a body of water, so make sure you are prepared.
You are NOT required by law to have coverage on your boar, but if you don’t and something happens, it can get pretty pricey very quickly. Liability insurance for a boat is generally less than one hundred dollars a year for coverage. Full coverage is a little more expensive depending on the value of your boat. Your premium depends on if you use your boat on the ocean or just lakes. Also the hull material, propulsion type, sail, motor, and types of activities you do are factored into your premium.
Two of the most important coverages to have on your boat are salvage and recovery. This will pay to have your boat recovered if it sinks. It will also save you from having to pay the EPA money for the oil and pollutants that your boat will contaminate the water with, in the event that it sinks or is damaged while on the water. If you do not have this coverage then you will have to pay out of pocket for the recovery of your boat and the EPA could also sue you for polluting the water. Both of which will be extremely expensive.
Another coverage you can get is for your fishing gear. If you have a lot of money invested in your fishing gear, this would be a must-have. No one wants to pay out of pocket for the same stuff twice if they don’t have to, right?
So before you take your boat out for the summer, be sure you are covered in case of an unfortunate event. It is always better to be prepared and have insurance than it is to be caught off guard by something that is out of your control and end up paying thousands of dollars for repairs, damages, medical bills, etc.