Boat insurance question...

[diybrad]

I have full coverage on my boat and i was looking over the policy the other day and something struck me to be on the low side. I have a dollar value set for my boat ($3200) and trailer ($800). The coverage for liability damage is $100,000k but the medical coverage is only set at $5000.

Is this normal? The medical sounds really low. I cant imagine any incident that would happen on the lake that would be less than $5k medically. Am i at risk here being this low? I am in Tennessee and use Tennessee Farm Bureau. What should i do here. I will pay for more coverage if it is needed. I am new this season to boating and i am trying to do this the right way. Advice?

Thanks

 

[catfish58]

Re: Boat insurance question...

After reading your thread I checked my policy. I'm in the same 'boat'.I am in Alabama and have State Farm. Boat, equipment, motors ($12000). Boat trailer($1500). Watercraft liability ($100000). watercraft medical each person($5000). I am curious if thats the norm.

 

[BTMCB]

Re: Boat insurance question...

Remember.... for whatever it is worth......med pay coverage responds REGARDLESS of liability and REGARDLESS of who is injured. Your liability coverage responds to "others" injured or alleged to be injured as a result of your negligence or alleged negligence. Med pay responds to anyone who incurs medical expenses as a result of an injury on your boat or by your boat - regardless of fault. I think 5,000.00 med pay is fairly typical but you might be able to buy more for a higher premium if you are concerned. Check with your broker / agent / insurer when it comes to insurance questions to be sure.

 

[BRICH1260]

Re: Boat insurance question...

In Indiana the maximum Med Pay State Farm will sell is 5k. Med Pay is paid per person to all occupants regaurdless of fault. If you are negligent for someones injuries or damages, your Liability coverage would also be available. If another boater is negligent for the medical injuries, their Liability coverage would extend.

 

[diybrad]

Re: Boat insurance question...

Okay. If that is the norm then i am cool. I am just used to seeing 50k or so on my auto policy.

 

[H20Rat]

Re: Boat insurance question...

Medical pay usually is used to cover your health insurance deductible/co pay for any family member that slips and falls, and needs a cast on a broken arm. Pretty much anything else will be covered by liability.

In reality, if you have health insurance, the med coverage is very rarely used. Working in insurance for a couple years, the only claims I ever saw were exactly like above.