BoatRenting.com

Facility Insurance Questions & Answers

1. Is it required that I purchase insurance?
No - There are no known US state laws requiring a vessel owner to carry boat rental insurance.
2. Is boat rental insurance expensive?
No -Boat Rental Insurance is very reasonable. In fact in most cases its less expensive then private boat owner insurance. Here is a list of boat rental insurance companie s
3. Why is it rumored as expensive?
Its rumored as expensive to keep the competition low. Its an easy way for your soon-to-be competitor to discourage competition.
4. Why is boat rental insurance it so inexpensive?
"Limitation of Liability Act" of 1851. Insurance Carrier's Ace in the Hole.
5. What is the Limitation of Liability Act?
The Limitation Act limits a boat owners liability from accidents that result in personal injuries and other losses that occur on navigable waters. 46 U.S.C. App. §188..
6. Are all boats owners cover and protected by this act?
Yes, The Limitation Act applies to all "seagoing vessels, and also to all vessels used on lakes or rivers or in inland navigation, including canal boats, barges, and lighters." 46 U.S.C. App. §186. The term vessel has recently been enlarged by the U.S. Supreme Court in Stewart v. Dutra Const. Co., 543 U.S. 481, 125 S.Ct. 1118 (2005) to owners of pleasure craft, including jet skis and house boats, are permitted to limit liability. (Boat Owners are ONLY responsible or liable up to the value of their boat AFTER said incident) Keys Jet Ski, Inc. v. Kays, 893 F.2d 1225 (11^th Cir. 1990); Warnken v. Moody, 22 F.2d 960, 962 (5^th Cir.1927); In re Guglielmo, 704 F.Supp. 352 (E.D.N.Y.1989) (twenty‑one foot motor boat).
7. What about property damage caused by a renter?
Insurance can be purchased through different insurance companies to cover such losses.