Homeowners Insurance May Not Provide Enough Coverage for Your Boat.
TAMPA, Fla. – The unofficial start of summer brings us the beginning of boating season. AAA wants to make sure you’re covered in the event you’re involved in an accident on the water. Being safe is a primary concern, but it‘s also important to have the proper insurance coverage in case of an accident. “The likelihood of a boating accident increases on Memorial Day weekend,” said Mark Jenkins, spokesman, AAA – The Auto Club Group. “Rivers and lakes are loaded with boats, and the boaters are oftentimes loaded on alcohol.” In 2013, there were 4,062 accidents with 560 deaths, 2,620 injuries, and approximately $39 million dollars of property damage as a result of recreational boating accidents, according to the US Coast Guard. There are an estimated 12 million recreational vessels registered in the United States. However, only seven in ten owners in Florida, Georgia and Tennessee have boat insurance, according to a recent AAA survey. “Unfortunately, not everyone has a proper insurance policy to cover the cost of any injuries or property damage that may occur,” Jenkins continued. “Many people wrongly assume their homeowner‘s insurance is all the coverage they need for their boat. However, most homeowner‘s policies have minimal coverage for small boats with either no engine or a very small engine.”