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What do I need to know about my boat owner's insurance? | Legal insurance blog for property insurance



Some recent events made me write about boat insurance and what you should know if you are a new or experienced boat owner. The Chip Merlin and Merlin Yacht Racing team recently competed in an offshore race from St. Petersburg to Pensacola. My own latest sailing adventure took an exciting but still unexpected turn when we sailed with a wind of 16 knots. One of my close friends recently became the new sailboat owner of Melges 24, Firewater owned by the late George Haynie – a sailing mentor, legend and dear friend to everyone at Davis Island Yacht Club.

Sailboat racing is about pure racing joy. Being out on the water should be fun whether you are out cruising or competing in a regatta. But you must be prepared for and off the boat if something goes wrong on the water, or if the boat is damaged in a wet slip or on a trailer.

At Merlin Law Group, we practice real estate insurance law, and it is as important to know your boat owner's insurance as it is your homeowner's or business owner's insurance. This blog is not a substitute for your responsibility to read your insurance, but I will give you a quick cheat sheet on remarkable coverage and exceptions.

Boat owner insurance generally covers all physical damage to equipment such as hulls, sails, machinery, fittings, built-in equipment such as a depth gauge, fish finder, lamps, bilge pump switches, radios and the trailer if applicable. sinking, stranding, collisions and salvage costs; engine damage; transit risks up to 30 feet long; raise and launch risks; loss or damage caused by latent defects; frost; and personal accessories.

If you are competing with your sailboat, it is important to note that many boat insurances do not cover damage to masts and rigs during racing; but this coverage can be purchased for an extra premium. If your boat is registered for upcoming regattas, you should review your insurance and talk to your insurance agent to make sure your insurance includes the correct endorsements. demolition

  • Intentional misconduct
  • Loss of value due to the age of the ship
  • Losses caused by corrosion osmosis
  • Mast, spars and sails during racing unless the policy has been extended
  • Damage to machines after a crash [1
    9659009] Theft unless the right safety equipment or locks are fitted
  • If you or someone you know is a new or experienced boat owner and a loss or damage to the boat occurs, one of our experienced Merlin Law Group attorneys can help.

    Severe winds and subsequent seas to our friend George Haynie


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