If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
Insuring a charter boat can be very different from obtaining insurance for a pleasure or sporting boat.
Is charter boat requires additional insurance?
Yes, the charter boat requires additional insurance because the vessel (charter boat) represents the livelihood of its owner.
Loss of the vessel (charter boat) means not only loss of the boat itself, but also loss of income, as well as countless of amounts of secondary damage derived from “lack of use” of the vessel (for example, lost contracts, loss of expected income, refunds to potential passengers, etc…).
Charter boat’s functions:
Additionally, a charter boat’s main function is to carry passengers for a fee, whether for a day fishing charter, or a brief sight seeing trip.
The mere presence of passengers on the vessel presents many liability risks. Consider the possible outcome to passengers if the vessel should be involved in an accident, while operating as a chartered watercraft.
Consider, as well, the risks to the owner of the vessel, in the possibility of personal injury suits, negligence suits, property loss or damage, etc… should an accident occur while the boat is operating.
Special Insurance for Charter Boats(Charter Vessels):
1. Charter vessels also need special insurance to protect against damages by passengers.
2. Broken equipment, vandalism, and excessive wear and tear to the boat’s interior, are just a few of the problems often experienced by charter boat owners.
3. Theft of equipment and gear may also become an issue for the Charter boat owner.
The boat owner will want to make sure that the policy selected will cover all potential risks, losses and damages, insuring that both the owner and the passengers are duly protected.
Read more about the piracy attacks and boat insurance.
Find whether Marine Survey - Benefits of marine survey in boat insurance.
How to Protect your boating investment using boat insurance?
Read more about What to look for in a boating insurance policy?
Get more details about How to obtain the best boat insurance?
Find more information about Is boat insurance required for Winter Season (Winter Boat Insurance)?
What about insurance for special boats. Find the details about boat charter insurance - Insurance for charter boats.
