While liability boating insurance in Maryland is not mandated, it is highly recommended for boat owners and operators alike. Unlike auto insurance, which is mandatory nationally, boat coverage liability coverage for a power boat is only required in Utah and Arkansas. While the insurance isn’t required, however, it is certainly necessary. The reasons that you want to have a boat insurance policy in place are to protect yourself from unexpected damages as well as any possible losses, theft and property damage or even the possibility of personal liability for injury or death to others in the case of an accident. This doesn’t just include crashing. It could be something as simple as having a friend out on your boat and they stumble and hurt their ankle, or a rough wave knocks them backward and they decide to sue you further down the line for personal injury. Unless you have experienced an accident or unforeseen similar circumstance such as these, you may not see the value in investing in a proper boat insurance policy until it is too late.
There are different types of boat insurance available, which include liability, comprehensive insurance, collision coverage, personal injury protection and medical coverage. While MD does not require the insurance, your docking marina or bank may for their own protection. This protection is for you as well, however, against litigation if someone tries to sue you for injury and it is a key investment protection. Especially with a boat, sinking or damage to a vessel can be common based on one bad storm. So whether you are looking to limit yourself from legal liability, are looking to protect your investment, or both, having the right policy in place to cover your needs is key.
Contact one of our agents at Wellspring Insurance Network to get a hassle free boat quote today!