Common Boat Insurance Claims and How to Avoid Them

Owning a boat can be a source of great joy and relaxation, but it also comes with risks. Understanding common boat insurance claims and how to avoid them can help policyholders keep their vessels safe and their premiums low.

Five Frequent Types of Claims

Consider the following incidents and how you might minimize your risk and reduce the chance of having to file a claim against your insurance:

1. Collisions—One of the most frequent claims involves collisions with other boats. These accidents can result from poor visibility, inexperience or simply not paying attention. Even if your own vessel is not damaged, you could be liable for other parties’ losses, including bodily injuries and damage to their property. To avoid such incidents, always maintain a proper lookout, adhere to navigation rules and take a boating safety course to improve your skills.
2. Weather-related damage—Severe weather can wreak havoc on boats, leading to claims for damage caused by storms, high winds or lightning. To minimize the risk, always check the weather forecast before heading out and avoid boating in adverse conditions. Additionally, secure your boat properly when it’s docked or stored, using high-quality covers and mooring lines.
3. Crime—Boats are valuable assets and can be targets for criminals. theft and vandalism. Invest in a good security system, including alarms and GPS tracking devices, to protect your boat from theft, vandalism and other criminal acts. Store your boat in a secure location, such as a marina with surveillance or a locked storage facility and never leave valuables onboard or in plain sight.
4. Grounding—If your vessel runs aground on a sandbar, reef or other underwater obstruction, it can cause significant damage to the hull and engine. To avoid grounding, familiarize yourself with the waterways you navigate, use updated nautical charts and install a depth finder to monitor water depth.
5. Fire—Even though you may be on the water, fires can still happen due to fuel leaks, electrical issues or unattended cooking. Regularly inspect and maintain your boat’s fuel and electrical systems and always have a fire extinguisher on board. Never leave cooking appliances or other heat sources unattended and ensure proper ventilation when using them.

We’re Here to Help

Contact 1st Choice Insurance today to learn more and ensure you have the right coverage for your boat.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.