| Nowadays, boats don't come cheap. Indeed, for many | | | | speedy jetski, you get jetski insurance. In either case, |
| people who own them, boats are among their most | | | | the aim is to protect yourself from the financial |
| expensive possessions. To be sure, whatever a boat | | | | implications of an accident/incident befalling your boat. |
| is bought for, it usually delivers quite well: whether it | | | | Boat insurance seems to be really catching on, in |
| was bought for pleasure, or as income-generating | | | | terms of popularity - as people become awake to the |
| asset for business. | | | | reality of the vulnerability of their boats. The UK boat |
| Unfortunately, due to the aquatic environments in which | | | | insurance industry, for instance, has grown to be a |
| they operate, boats are vulnerable to a lot of things. A | | | | multi-million pound business, and counting. This is a |
| boat could, for instance, quite easily get irreparably | | | | significant pointer to the popularity of the global boat |
| damaged in a storm (and this is the best case | | | | insurance industry, taking into consideration the fact |
| scenario). It could also get into quite a nasty accident | | | | that the UK boat insurance industry is fairly modest, by |
| with another boat in water, especially in these days | | | | global standards. |
| when their numbers and speeds are increasing so | | | | With boat-insurance, you stand to benefit from the |
| much. Then again, a boat could get stolen. It may | | | | peace of mind of knowing that although your boat is |
| sound improbable, until you get to hear of the many | | | | still vulnerable to the various things, at least you are |
| people who have had their boats actually stolen, never | | | | protected from their financial implications. This is very |
| to be seen again! | | | | important thing, because there are stories coming up |
| In the face of all these vulnerabilities, you may find | | | | about people without proper boat insurance, who went |
| yourself - as a boat owner - wishing there was a way | | | | on to face complete financial ruin in the event of their |
| you could somehow protect your valued boat. | | | | boats suffering the disasters or being stolen (especially |
| Unfortunately, some of things, like getting into storms or | | | | where the boats happened to have been bought on |
| collisions with other boats, are not things you can do | | | | loans). |
| much about, as they tend to manifest as 'accidents' in | | | | In some jurisdictions, boat insurance is a legal |
| the realest sense of the word. | | | | requirement - especially for boats used in ferrying |
| Yet there is a possibility to at least protect yourself | | | | paying passengers. In such jurisdictions, not having |
| from the financial implications of these catastrophes, | | | | boat-insurance would open you to problems with the |
| which is where they tend to hurt most. This possibility | | | | law. It could also be that similar requirements exist |
| lies in taking up boat insurance - which is also variously | | | | where you are: something you need to confirm, before |
| referred to as yacht insurance, jetski insurance...and so | | | | opting to take the imprudent step of putting your boat |
| on, to cover the various types of boats. So if yours is | | | | into the waters without proper boat insurance! |
| a leisurely yacht, you take yacht insurance. If yours is a | | | | |