Do I Need Boater’s Insurance for a Mini Pontoon Boat?

So you have purchased a mini pontoon boat. Congratulations! Let the fishing and fun begin. But wait, you have invested in your boat and you should protect it. By purchasing boater’s insurance you are protecting your investment. 
Many people finance their boats and are required by the lender to carry boater’s insurance. If your boat is stolen or if something catastrophic happens, the lender stands to lose money and so do you. Insurance creates a safety net for you and the lender. Boater’s insurance is a low-cost way to ensure that you and the lender are protected. Many states require that your boat be insured as well. 
You will need, at the bare minimum, liability coverage. Liability covers damage done to other people’s property by your boat. You will be glad that you have it if your boat comes untied and slams into a million dollar yacht! Liability can be purchased to cover different amounts and the cost difference between slight coverage and a lot of coverage is usually very minimal. Consider getting as much coverage as possible in this area. 
Many people choose to buy insurance that covers medical costs incurred by themselves or other passengers on their boat. You may think that the chance of injury on a mini pontoon boat is minimal, but if someone takes a hook to the eye and ends up with a $30,000 medical bill, then you could be liable for that money. Medical coverage is a good idea if you will ever have passengers on your boat or if you yourself are not covered by medical insurance. 
If you finance your mini pontoon boat, the lender may require comprehensive coverage. Comprehensive covers things that could damage your boat that is out of your control, such as hurricanes, tornados, hail, lightening and theft. This does not cover theft of things left on your boat, but the actual boat itself. Comprehensive coverage can keep you from having to continue to make years of payments on a boat that you do not even have anymore.
Another coverage to consider is uninsured boater insurance. There is usually a very small monthly charge to carry uninsured boater insurance. This covers you if damage occurs to your boat by an uninsured or inadequately insured boater. This can keep you from having to pay for loss or damage to your boat in the event of an accident that was not your fault. This also usually covers hit and run accidents. 
Always be sure to check with your insurance company about specific coverage. Ask questions and educate yourself about each coverage you select. Insuring your mini pontoon boat is just about never a bad idea!

About the Author: Brad Metzler is the owner of Pond King Inc., an industry leader in the production and sale of Pontoon Boats, Mini Pontoon Boats, Floating Docks, Honey Hole Trees, and Turtle Traps. Pond King Inc. also consists of Lake and Pond Managment Professionals that are dedicated to finding the most economical solutions and strategies for your fish stocking needs. For more information, please visit www.pondking.com.