Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: SUNDAY, February 23, 1992 TAG: 9202220021
SECTION: BOAT SHOW PAGE: BS-6 EDITION: METRO
SOURCE: By BILL COCHRAN OUTDOOR EDITOR
DATELINE: LENGTH: Medium
IS YOUR BOAT INSURED?
A fisherman is traveling to Smith Mountain Lake when he hits a curve too hard and the bass boat he is trailering goes rolling off into a ditch. The damage is covered by his automobile insurance policy: Right?A runabout operator on Claytor Lake causes a collision when she fails to steer right of an oncoming craft. Her home-owner's policy covers the damage and injuries she caused to the other boat and its occupants: Right?
Wrong on both cases, says Pat Hall. What these boat owners needed was a separate boat insurance policy.
Boaters frequently have misconceptions about their marine coverage, said Hall, an Allstate Insurance agent who will sponsor a display at the Southwest Virginia Boat Show for the 10th year.
Most automobile and home-owner's policies do extend some coverage to boating, but often it isn't nearly as comprehensive as the owner believes, said Hall. A prudent boater will increase the coverage by adding riders to those policies or by purchasing a policy just for his boat, motor and trailer.
A home-owner's policy, for example, often will do little more than provide limited coverage for damage done to a boat while it is parked at home. "So if your house caught on fire and the boat burned up, you would have a little coverage," she said.
"One of the biggest mistakes is thinking the boat is covered by your automobile policy when it is being pulled," she said. "The only thing that the car policy is covering is if you are pulling the boat and the boat comes loose and hits another car. Your liability will take care of the other car. It does absolutely nothing for your boat, motor and trailer."
When you take into consideration the high cost of both boats and medical expenses, "liability is definitely something that you want to carry," she said.
"On some home-owner's policies, your boating liability is extended, but often that is for a boat with a small motor. Most of the time you have to buy a separate policy to cover both the physical damage of the boat and the liability.
"On older boats, that are 10 or 15 years old, some people don't want to protect the boat, but they want liability."
There is no state law that says a boat owner must purchase insurance, even liability insurance, Hall said.
"For the automobile owner, if he buys tags the state says he is going to carry liability insurance or he is going to pay a $400 uninsured motorist fee. You can go out and buy a brand new boat and if you don't owe anybody for it you don't have to buy insurance of any kind."
Boat insurance is less expensive than automobile insurance, Hall said.
"A lot of factors come into play: the size of the boat; the horsepower; the type - houseboat, runabout, bass boat. But the average premium is probably going to be less than $200."
A boater can lower the cost by completing a safety course, such as those taught by the Department of Game and Inland Fisheries, the U.S. Coast Guard Auxiliary and the U.S. Power Squadron.
"If you complete the advanced course, you can get as much as 25 percent off of your insurance," she said.
Some companies will check into the applicant's automobile driving record, Hall said. They believe there is a direct relationship between an applicant's behavior on the road and on the water.