In order to better protect yourself and your property, it’s a good idea to have a discussion with your insurance agent and/or your maritime lawyer about your vessel, its intended use and operation, the potential for claims and the marine insurance coverage that may be available to you.
Hidden Exclusions
Many people with significant claims after an accident, that could and/or should have been insured against and covered from, are not covered because of an exclusion or limitation that was buried in the insurance policy. These denials often could have been avoided had the person purchased a more favorable insurance policy from a different carrier. The insurance policy need not cover just the vessel, but also needs to cover you, and your passengers, in the event of an accident. If there is a serious accident, any good personal injury attorney will want to go beyond the policy limits and try to hold you personally liable.
Who, What, Where
Continue Reading Maritime Law: What You Need to Know About Insurance Before Buying a Boat
Whether you are buying a boat for the first time, or simply have not been boat shopping in ages, it is important to understand the technicalities of purchasing a boat. Over the next several weeks, we will discuss a few issues to consider, including insurance, registration and documentation, surveys and contract terms. Today, we will