The Importance of Boat Insurance
by adminA boat is an investment and when utilized correctly, it can bring you, your family, and your friends years of happy memories and amazing experiences. The feeling of being on the open ocean is a freeing, joyful experience for many. However, while boating is fun, exciting, and thrilling, it can also be very dangerous and comes with a lot of risks.
The ocean can be unpredictable. The dangers of boating accidents have left boaters in danger, injured, and at risk of liability for accidents and injuries. This is why boat insurance is so important. Rough winds, sudden storms, and human error are all reasons why it is so important for all boat owners to have the necessary boating insurance. Boat collisions with inexperienced, or intoxicated boaters can also happen, engines or equipment can fail, and objects hidden under the water can make even the most experienced boaters by complete surprise.
In any of these situations not only is the boat at risk of severe damage or loss but the people on board or in other boats can be injured or killed, leaving the owner of the boat liable. For boaters in Vancouver, boat insurance is a critical part of being a boat owner.
Also Read: Tips on Choosing the Right Boat Insurance in Surrey
Boating is a great, positive lifestyle choice for many. By ensuring your watercraft, you are ensuring the safety of not only your property and investment but in yourself and others. Serious financial hardship can be caused by the unexpected, be it a freak accident, unexpected damage to your craft or others, or physical injury, having the proper type of boat insurance is key in having an enjoyable time on the water.
It is very important to ensure your boat is for the right amount. If you under-ensure your boat and an incident happens, you could be left covering the cost of the damages- be it theft, loss or damage to property, or medical bills for injured boating guests. If your boat is over-insured, you are paying too much premium than you need to.
In Vancouver, boat insurance is often mandatory for many marinas to dock your boat there long-term. There are many ways to lower the cost of your insurance policy that does not include underpaying. If you choose a higher deductible, your premium may be lower. But you are also accepting more risk and will be covering more of the losses out of pocket. One of the best ways to ensure lower insurance rates is to stay claims-free.
When on the waters, avoid accidents by only operating your watercraft safely and never while impaired. Never leave valuables on board when you are not on board. Always have working, up-to-date safety, and emergency equipment, and be sure you and your guests are all wearing approved PFDs. Only boat in areas you are familiar with, and always make a trip plan, and advise a friend who is staying onshore about your trip and give them a copy of the plan. Be sure to follow markers and the rules of the water and always give larger watercrafts extra room.
Being a boat owner is an incredible experience and can be an enriching part of your life. Boating is also a huge investment and should be treated as one. You would never think of owning a vehicle without insurance so it should be the same with any watercraft.