Owning a boat can be a great deal of fun for you and anyone else you go boating with. However, accidents can also be quite costly. Just as it is advised and encouraged for a car owner to purchase insurance for their vehicle, it is also an excellent idea to find an insurance policy to cover for your boat.

A standard boat insurance policy can safeguard you from costly damages and injuries involving your boat and passengers. However, this is only for if you’re the one using your boat. In the case of letting someone else borrow your boat, you’ll require temporary boat insurance.

What if Your Friends or Family Want to Sail?

With general boat insurance, you and your boat are covered, but anyone else who may borrow your boat is excluded. While this is important coverage to have, if you plan on sharing your boat and allowing others to sail it, it simply isn’t enough. If something were to happen while they are sailing, you would have to cover for the costs required for repairs, injuries, legal fees and anything else involved.

Then What Insurance Do You Need?

In order to include temporary boat insurance within your program, you’ll need to find an umbrella policy. This may mean you have to pay more, but umbrella insurance covers everyone involved with your boat. If you plan on allowing people other than yourself borrow your boat, a temporary boat insurance policy is less expensive than paying out of pocket in the case of an accident.