Why You Need Motorboat Insurance

Insuring your motorboat really is important. Although many of us are looking for ways to cut back on spending during this recession, do not stop paying for your insurance! During the past few years more and more people had the money to buy motorboats. So there are a lot of novice boaters handling powerful fast boats. Some of these boaters have taken to the water without any tuition or instruction on handling boats. As you notice when watching some of them moor up! It is funny from a by-standers view point to witness some of the collisions and scrapes these novice boaters get themselves into. However, for the victims of these mishaps it can prove not only expensive but inconvenient at the same time.
So it is important to insure your motorboat against damage. Damage you may cause and damage to your motorboat from other boaters. Third Party Liability Insurance is not only sensible to have but on some inland waterways it is necessary as a by-law before you can use your motorboat. If you get a quote for Third Party Liability Insurance of say £2,000,000 you will be surprised how cheap such cover can be!
While mooring your motorboat you also want to insure against theft. Thieves are active throughout the year and during the summer months, many take to the water to break-in. Remember although when ashore during the winter you remove all the expensive equipment: during the summer your motorboat is fully loaded! Full of gear that is easily carried away and sold. Sold probably before you even have time to report it missing. So get it insured!
Motorboats even those fitted with twin engines and bow thrusters can prove difficult to handle in a strong wind. Therefore when accidents do happen such as going aground and damaging the propellors, it is a comfort to know that your insurance company will pay for the repairs. Many motorboats have high freeboard and little draft, so the wind can blow them about at slow speed when manoeuvring, so bear this in mind.
If you use your motorboat on inland waterways such as the canal system or lakes, then you will have noticed how busy they can get during the summer. Boats passing each other in close confines of a canal often touch each other and cause scrapes, no matter how careful you try to be. Even slight damage can be expensive to repair. So make sure your policy covers such eventualities.

Insuring Your Boat in the Off-Season

While many boat owners understand that it is just as important to insure your boat as it is a car or truck, some people may be tempted to insure their boat for only part of the year. Much of this temptation arises from the fact that many people only use their boats at certain times when the weather is pleasant, like the spring and summer months.
During the winter and fall, many recreational boaters choose to store their vehicles in dry-docks, garages, and parking lots, while snows and cold weather keep them off the lakes and rivers. Because they do not intend to take the boat out on the water, some boat owners make the decision to cancel their insurance coverage for the off-season and renew it again when prime season begins.
Some people choose to take such actions because they believe they may save money by removing their insurance payments for part of the year. Unfortunately, this may be a mistake, because accidents can still occur even if the owner believes the boat is safely stored. If a person suffers injury near a stored boat, the owner may still be held liable for injuries and expenses as a result.
If a person suffers injury while walking by a stored boat, falls from the boat, or is crushed by a boat falling from height in storage, the boat owner may face liability lawsuits as a result. In addition if the owner wishes to take the boat out for any reason during the off-season, he or she may be held liable for any damages that may occur in the event of an accidents or collisions. In many cases, the amount the person must pay to cover the damage caused in an accident far outpaces the amount they would have paid to keep insurance coverage year-round.
In addition, insurance coverage can protect your investment in the event of theft or damage while the boat is being stored. Statistics show that claims of boat theft rise in the winter-time, when thieves can count on fewer traffic in and around marinas and docks. Boat owners may also return to find that their boat has been damaged while in storage, possibly by the employees of the storage area or other owners who may be there to store or remove their boats.
Most insurance companies attempt to keep their insurance policies low for year-round coverage of boats and other recreational vehicles. By keeping your boat insured year-round, you can have the peace of mind that comes with knowing that your property is protected against theft and accidents. If you would like to know more about insuring a boat or recreational vehicle, visit the website of the Insure on the Spot.