Many people believe that the primary reason for getting boat insurance is to protect their watercraft if it becomes damaged due to a covered risk. However, what happens if a guest on your boat sustains an injury onboard, even if the incident isn’t your fault? Selkirk Insurance Services, serving Sandpoint, ID, can help you understand how your policy will cover guest injuries.
The Importance of Liability Coverage
Most boat insurance policies include liability coverage, similar to how auto insurance protects you if a motor vehicle accident occurs. Your boat policy may also include medical payments coverage, which will help pay for doctor visits, therapy, and more if someone is injured on your boat. This coverage is particularly beneficial if your guest has no or inadequate health insurance policy, or if the policy has a high deductible. This coverage is valid only if you use your boat for private purposes. Read your policy to determine if it has any exclusions. Your policy may not pay for injuries sustained from specified careless acts.
Should I Get Extra Liability Coverage?
If you frequently entertain guests or have parties on your boat, consider getting additional liability coverage. A higher liability amount will provide protection if someone sues you because of the incident. However, enhanced liability limits in a boat policy may not be enough in the event of catastrophic injuries. Some people may press multi-million-dollar lawsuits that could leave you responsible for medical costs if litigation is successful. Consider buying an umbrella policy that would protect you from medical and litigation costs and ultimately save the investment in your boat.
Learn more about how boat insurance can protect you and your guests when injuries occur. Contact the professionals at Selkirk Insurance Services, serving Sandpoint, ID, and environs, for an appointment.
