Why You Need To Have Insurance For Boats

Why You Need To Have Insurance For Boats



Why you​ need to​ have insurance for boats
The actual number of​ piracy attacks that were reported worldwide in​ 1999 rose nearly 40% in​ just one year .​
What’s more those figures nearly tripled between 1991 and 1998,​ according to​ the​ ICC International Maritime Bureau in​ London (IMB).
In the​ year 2000 a​ report conducted by the​ International Marine Bureau in​ London,​ also showed that annual losses due to​ piracy totaled over $200 million dollars .​
Even more alarming is​ the​ increase in​ weapon usage by modern day pirates such as​ guns and knives .​
Internationally a​ significant number of​ deaths,​ as​ well as​ serious injuries,​ are attributed to​ piracy each year.
Modern pirates may not have wooden legs and eye patches .​
They also may not be waving the​ Jolly Roger from a​ top their sails .​
Instead these criminals often navigate vessels that do not appear out of​ the​ ordinary .​
They will generally board a​ cargo vessel before the​ captain realizes that they are thieves .​
Modern pirates may do one of​ three things: rob the​ crew/passengers aboard the​ vessel; rob the​ vessel of​ its goods and cargo; or​ hijack the​ entire vessel.
Travelers venturing into foreign waters run greater risks of​ experiencing hijacking,​ theft,​ and even assault from modern day pirates .​
Having the​ best insurance coverage for you​ and your vessel is​ a​ must .​
The policy should cover all goods,​ cash,​ cargo,​ and of​ course the​ vessel itself .​
Maintaining the​ highest level of​ insurance,​ will help ensure that,​ should you​ fall victim to​ such a​ crime,​ the​ majority of​ expenses and costs you​ experience can be recouped.




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