Uninsured Boat Coverage: Get Legal Defense Aid & Emergency Towing Assistance

Nov 30, 2023

Have you ever thought about the financial consequences of colliding with an uninsured boater when out at sea? Marine Insurance Now is here to explain the risks in their new guide to Uninsured Boater Coverage.

Boats are a lot of fun, but they can also cause many headaches!

Imagine this scenario.

Emma and her friends were cruising along the coastline when, suddenly, they were hit by an uninsured jetski. Jetskis are renowned for being fast and furious, and the damage it has caused to Emma's precious vessel is astronomical. The only way for Emma to legally recover damages from the uninsured party is to make use of her uninsured watercraft coverage. Thank goodness she listened to the advice from Marine Insurance Now and added this to her policy before setting sail. For the owner of the jetski, however, things aren't looking so good!

Legal Requirements

Currently, there are only two states in the US legally requiring boat owners to purchase insurance - Arkansas and Utah. Therefore, if you are sailing outside of these two states, you may well find yourself coming across uninsured boaters. This can leave you with significant financial issues when an unexpected accident occurs. Marine Insurance Now explains the importance of uninsured/underinsured watercraft coverage to protect yourself against such incidents.

Go to https://marineinsurancenow.com/all-about-uninsured-underinsured-watercraft-coverage/ to find out more.

Accidents Happen

Uninsured/underinsured boater coverage is designed to compensate you for accidents caused by boaters with no liability insurance in place. When a third party does not have insurance to cover the damage they caused, you may have to cover the costs yourself, leading to considerable financial burdens. As the report explains, uninsured boat coverage will compensate for third-party negligence, helping to ease the financial impact of such accidents. Unfortunately, there are lots of reckless boaters out there and it's important to make sure you are adequately protected.

“Dealing with accidents and damages can be stressful enough without having to worry about how to get compensation from someone who doesn’t have insurance", the author says. “With this coverage, your insurance company will handle all the necessary steps to recover your losses from the uninsured boater. They will work towards getting you a fair settlement so that you can quickly move on and get back out on the water.”

Shocking Statistics

According to research from Marine Insurance Now, approximately 20% of boaters fail to hold insurance, posing a great risk to others when out at sea. Research from Worth Insurance shows that there were 5,265 boating accidents in 2020 in the US alone, a significant proportion of which were caused by uninsured boaters. Insurance companies often have to compensate for financial losses caused by uninsured boaters by increasing their rates, leading to higher insurance premiums for everyone. - an unfair, but true, reflection of the negligence of others!

“These statistics highlight the importance of having adequate coverage when enjoying the freedom of being out on the water, the report explains. “Without insurance, not only are you putting yourself at risk, but also potentially burdening others with financial consequences.”

To ensure that you are safe on the water, it is important to make sure you are protected against any circumstance, including those involving uninsured boaters. Not everyone does the right thing when it comes to insurance but at least you can make sure you will always be financially protected!

To learn more about the importance of uninsured/underinsured boat coverage, head over to https://marineinsurancenow.com/

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