Don’t let worry weigh you down when out at sea. With liability insurance in place, you can sail worry-free, knowing you are financially protected. Dive into the basics with this new report from Marine Insurance Now.
Unfortunately, accidents happen and you don’t want to find yourself on the receiving end of an expensive lawsuit the next time you’re out at sea. Without the right insurance policy in place, you could end up spending thousands of dollars that you just don’t have. Steer yourself away from financial disaster by making sure you have the right protection in place. Not sure where to start? Then check out the advice from Marine Insurance Now.
According to research from the US Coast Guard, there were 4,040 recreational boating accidents in 2022 alone, involving 636 fatalities and 2,222 injuries. Most of these accidents were caused by boat owner negligence, including inexperience and excessive speed. In their new report, Marine Insurance Now highlights the importance of liability insurance in providing financial protection when accidents occur. Still think you don't need insurance? Think again!
Go to https://marineinsurancenow.com/a-closer-look-at-liability-boat-insurance/ to find out more.
The report addresses the consequences you could face when failing to take out liability insurance. The experts cite that 50% of boating accidents result in property damage, which can lead to significant financial burdens for owners without the appropriate liability coverage in place. “Liability boat insurance provides peace of mind by covering these costs, allowing you to enjoy the freedom and joy of boating without worrying about the potential financial consequences,” the experts explain.
The report outlines the types of accidents covered by liability insurance including collisions with other boats, damage to docks or other structures, personal property damage and environmental damage, such as fuel leaks or spills. Knowing these accidents are covered under your policy will give you peace of mind when next out at sea.
Marine Insurance Now stresses the importance of personal property coverage in protecting against damage to other boaters and their vessels. “By having property damage coverage as part of your liability boat insurance policy, you can navigate the waters with peace of mind knowing that any damage caused to another person’s property will be taken care of financially,” the report explains.
In addition to property coverage, the report also highlights the need for bodily injury coverage to help cover medical expenses, and possible legal fees, in the case of accidents. Without liability insurance, you will be responsible for paying these costs, often resulting in a significant financial burden. With this in mind, Marine Insurance Now describes liability insurance as “a safety net”, allowing you to enjoy your time out on the water without worrying about potential financial ruin.
The report provides advice for choosing a liability insurance provider, citing reputation and affordability as two important factors. You should look for providers that offer comprehensive coverage to ensure you have the correct protection in place to meet your individual needs, the report explains.
Before you set sail on your next adventure, make sure you are adequately protected. It's smooth sailing from here on in! Find out more about the benefits of liability boat insurance at https://marineinsurancenow.com/
