Re: Sons Cigar Boat Goes Down
As for insurance requirements, I bet the states that require it, only require liability, which will not cover his property loss or salvage costs. Liability coverage might cover any environmental damages and I would think that states that require it, would require that coverage, too. "property damage" is a liability coverage referring to damage the insured does to someone else's property, not his own.
That being said, most liability policies throw in some other comprehensive coverages (property loss, salvage costs, towing, etc.) so in the required states you end up with some additional, but not legally required, coverage.
But even if he had insurance, his coverage is now at risk from not dealing with the sunken boat quickly enough.
And I have to throw this in: his anchor line "broke"? That, in addition to the rest of the circumstances, paints the picture of this example that owning a boat does not make one a boater. No insurance, no skills, no experience, no judgment and no equipment. No wonder!