Louisiana motorists carry automobile insurance to compensate for injuries and property damage sustained in an auto accident. The same logic applies to boat insurance. Just as you would not want to go out onto the road without insurance, you should also carry insurance as you take your boat out into the Gulf of Mexico for sailing, shrimping or whatever maritime activity you wish.
According to the Insurance Informational Institute, a typical boat insurance policy covers your boat if it sustains physical damage. This can include any component of the vessel that is permanently affixed to it, as well as the hull of the ship, the engine, and boat furnishings. However, some policies do not cover every item that is brought on board the ship, so boat owners will have to check the terms of the policy carefully. For example, a boat owner should ask an insurer if the policy covers lost or damaged fishing equipment brought on board.
In the event the owner of the boat is on board and sustains injury in an offshore accident, boat insurance can cover the owner’s medical bills. This goes for anyone who is operating the boat at the time of an accident, as well as passengers on board the vessel who have been hurt. Insurance can also pay for towing charges if your boat cannot leave an accident scene under its own power.
Additionally, boating insurance can pay for the medical bills of other persons that are hurt as a result of an accident your boat may be involved in. In an instance where two boats collide with each other, boat insurance can cover injured parties on the other vessel. Sometimes a boat may crash ashore and cause injuries to people on land. Boating insurance can cover such injuries as well.
This article is intended to educate readers on boat insurance and is not to be taken as legal advice.