There are many issues to consider when insuring a recreational boat. Many people view boating as a fun sport and don’t consider there to be enough risks associated with boating to make insuring the boat very important.
First of all, do you need to be reminded that we live in a litigious world? Even though a friend or ‘guest’ on board your boat for the day may be very chummy, that would likely change if they or their child were to be injured while on a boating voyage on your boat. Wherever you go, accidents can happen and boating is certainly no exception. And, when faced with enormous medical bills, it is normal for people to seek recovery from others, even though they may not have been ‘at fault’. You simply should not have a recreational boat without, at a minimum, a basic liability policy.