Insurance?

[walker45]

Trying to get a general idea about insurance and boats. 12 foot wide v aluminum, just used for fishing. 3.5 miles from the lake, all Township roads to and from. Vehicle ins. covers it while connected to truck. Anywhere from 5.5 to 10hp engine. This summer old friend who likes to fish and helps tremendously loading and unloading says he's babysitting grand kid now kids asks to bring him now them along which puts me in a bind without ins. on the boat. It's an old boat and I can easily picture ins. costing more than I paid for it. Whatta ya do jeopardize a lifelong friendship and say no or tell him to get their parents, both who I really don't know, to buy ins.? I have no plans to pay the ins. for that reason alone and I sure don't want to get sued without it.

 

[roscoe]

If you have homeowners insurance, or renters insurance, small boat insurance if often included, free, or cheap, $50-$80 per year.

Call your insurance agent.

 

[dingbat]

Kids or no kids, you will be held liable for your actions should you cause property damage or bodily harm.

Insurance is a heck of a lot cheaper than the consequences of not having it when you need it.

 

[roffey]

I cant imagine asking someone to pay for insurance on my boat or am I misunderstanding the question. I don't even ask for gas money, I'm just happy to be out on the water.

FYI, I pay $650 per year and that includes 5 mill liability, environmental coast to recover boat from the bottom of lake, accident repair even if its my fault and boat replacement up to 38k (plus a bunch more). I would think a small tin boat with a 5.5 hp would be next to nothing. Just think, if you sink it at a marina $$$$$.

 

[Lowlysubaruguy]

Call Gieco ( us boats) and progressive and see I’m sure it’s not a lot for your boat.

 

[JimS123]

First of all, you don't need special insurance for the kids, you need insurance...period. For yourself. Spill some gas and see what happens. If you don't have homeowners, a BoatUS policy will be really cheap. Homeowners usually covers a small boat for free.

Secondly, you didn't say how MANY grandchildren, but since it was plural there must be more than one. Two old guys and two kids and a 12 foot boat don't compute. You need a bigger boat.

 

[walker45]

No I don't need a bigger boat. If I did have a bigger boat it wouldn't instill any desire in me to operate a floating day care center.

 

[jbcurt00]

Perhaps Jim should have said

You'd need a bigger boat to carry 4ppl

You're 12ftr is probably rated for 3, toddlers or not...

Still doesnt matter re: needing insurance; which he also addressed.

Who suggested running a water based daycare?

Your boat, your choice who comes aboard

Even solo, you should have insurance. Protects you and others around you while boating. Whether they're in your boat, other their own watercraft..

 

[ahicks]

My homeowners doesn't offer a marine rider, so they referred me to another company, that charges something like 125 a years for a pontoon boat policy that covers not just liability, but also collision (including under water obstructions) and towing, which is done on a reimbursemant basis.

Bottom line, I think it's pretty cheap.

 

[JimS123]

No I don't need a bigger boat. If I did have a bigger boat it wouldn't instill any desire in me to operate a floating day care center.

Sorry if I put a burr under your saddle. It's obvious that you simply don't want to babysit your friend's little pizants. No problem with that. Just tell him how you feel and it'll be over and done and you won't have to worry about it again.

Regardless, you still need insurance....

OTOH, my earliest remembrance as a little tyke was sitting next to Grandpa on his little boat. I must have been about 4 years old. I know I talked too much and made him lose a fish or 2, but those were the happiest days of my life. I just wish he were still here. Grandpa would have been 123 years old this month. I look forward to fishing with him again.

Send your friend over to my house. There's plenty of room in my boat.

 

[JimS123]

My homeowners doesn't offer a marine rider, so they referred me to another company, that charges something like 125 a years for a pontoon boat policy that covers not just liability, but also collision (including under water obstructions) and towing, which is done on a reimbursemant basis.

Bottom line, I think it's pretty cheap.

I have had Homeowners from 3 different companies in the 45 years that I have owned a house, Each has provided liability insurance up to the policy limits for any craft (not a jetski), provided that the HP was less than 25 and the maximum speed was (I believe) less that 30 mph. Now if you hit something and needed boat repairs that was not covered. So, I never bothered with extra insurance for my little cheap fishing boats, but went to BoatUS for my larger and more expensive family boats.

 

[jkust]

A few things from my perspective. You can simply say no to kids or anybody on your boat. As for insurance, if you have a net worth to protect as most of us do, insurance isn't an option whether it be part of your homeowners or a separate policy. Even if not a net worth to protect, a judgement will follow you in worst case scenario. Generally speaking, insurance is my largest monthly expenditure.

 

[walker45]

No burr under my saddle, if you'll recall I'm the one that asked. I should have put more info. in original post. The lake is privately owned. The marina there consists of a rotten fence post, population {1} = me. All I asked was a general idea about insurance not a thesis on maritime disasters or how popular gramps was 123 years ago. Maybe a little touchy from the browbeating I seem to be taking for endangering your yachts on the high seas for all these years I don't know. When passengers came into the picture the question of insurance came with them. The number 2 post in this subject answered most of my question, my fault for not saying so sooner.

 

[H20Rat]

No burr under my saddle

To put it bluntly, the rest of your post confirmed said burr... Kids don't matter, even on a private lake, if you have ANYONE but family on your boat, you need liability coverage that covers slips and falls on a boat. Statistically, your older friend is far more likely to slip and fall than a kid.

 

[roffey]

If its a private lake (you own maybe) and your boat is a small 5.5 hp I bet your home owners liability covers you. For what ever its worth, I did not insure my first boat. I don't know if its even doable to have the non owner take out an insurance policy on your boat, nice rant in post 19 tho.

... and your questions was "Whatta ya do jeopardize a lifelong friendship and say no or tell him to get their parents, both who I really don't know, to buy ins.? I have no plans to pay the ins. for that reason alone and I sure don't want to get sued without it."

 

[Captain Caveman]

Seeing that you are new to this forum, you have to remember that people here have vastly different backgrounds with boating. Like you, I boat on inland lakes. Some of these folks are running 30-40ft boats on coastal waters. Without context some of us just offer opinions based on our experiences.

As for your question, I think that you answered it. You said that you don't want to get sued without insurance. I get the sense that you feel this is a possibility, or you wouldn't be asking. Get some cheap liability insurance from whomever gives you the best rate for the coverage you think is sufficient. I would start with getting a rider to my existing policies. Then look at separate policies with outside companies. I pay about $125/yr for my ten year old 16.5' fishing boat. My policy covers replacement costs of boat and gear, but most importantly liability. My umbrella insurance policy adds to it as I too, don't want to get sued for medical or other reasons.

 

[jkust]

One of my buddies had his son's friends up to his cabin over the summer. They are all under 18 and one crashed one of his jet skis into a piling riding in a location that is off limits but was horsing around. Completely demolished the jet ski, the kid was likely going to be a pro athlete but is now injured, was 100% the kids fault and guess who gets sued. My buddy/his insurance. Things come out of left field.