Does insurance cover an accident while hauling my boat?
Excellent question.
Let’s look at three scenarios where you’re pulling your boat down the road.
Scenario #1
You are driving down the road hauling your boat and trailer when Jed runs into you.
Are you covered?
Hopefully Jed carries insurance.
If Jed has auto insurance, his policy will pay to repair or replace your boat and trailer up to his policy limits. Here are a couple of examples…
Example 1 | Underinsured
Damages to your boat and trailer after Jed runs into you total $80,000. Jed’s auto policy has a Property Damage Liability Limit of $50,000. Now you’re stuck with a difference of $30,000. You could pursue legal action, but there is no guarantee that you will recover the money.
If you are worried about physical damage to your boat, you need a boat policy with coverage for physical damage.
In this example you would be subject to a deductible on your boat policy, but on the positive side you wouldn’t have to come up with $30,000 to replace your boat.
Example 2 | No Insurance
What if Jed didn’t have insurance? Now you’re stuck with an $80,000 loss.
The answer is the same. If you’re concerned with physical damage to your boat you need a separate boat policy.
Scenario #2
You’re driving down the road pulling your boat and you cause an accident. Your boat causes damage to a third party.
Are you covered?
Your auto insurance liability will pay for any Bodily Injury or Property Damage that you cause. Up to the limits on your policy.
Remember, should you have any damage to your boat you will need to refer to your boat policy for coverage. Your boat policy must have physical damage coverage to repair or replace your boat.
Scenario #3
You want to borrow my boat for the weekend. The only caveat is your car is unable to pull my boat.
The solution…Park your car at my house for the weekend and take my truck to pull my boat.
On your way to the lake you cause an accident in my truck with my boat and trailer.
Are you covered?
In this scenario, keep in mind, insurance follows the auto (not the person). So my auto insurance would pay for any Bodily Injury or Property Damage you cause.
As the boat owner, if I want to repair or replace my boat after the accident I need a separate boat policy with physical damage coverage to ensure it is covered.
Now What?
If you’re not smooth sailing we can help.
As an independent insurance agency we are able to tailor a policy to meet your needs. The same way your boat fits you. Let’s talk – click here.
