Charter Boats And Insurance



Charter Boats And Insurance

Charter boats and insurance
Insuring a​ charter boat can be very different from obtaining insurance for a​ pleasure or​ sporting boat.
To begin with,​ the​ charter boat will require additional insurance because the​ vessel represents the​ livelihood of​ its owner .​
Loss of​ the​ vessel 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 (lost contracts,​ loss of​ expected income,​ refunds to​ potential passengers,​ etc…).
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.
Charter vessels also need special insurance to​ protect against damages by passengers .​
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 .​
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.

Charter Boats And Insurance





Related Posts:




No comments: Comments Links DoFollow

Powered by Blogger.