Subscribe to RSS FeedHere's something to mull. What if you had a car accident, and your car insurer told you there wasn't coverage because the accident occurred in December? Or, how about your insurer told you, "Sorry, you were driving on I-95 at the time, and we only cover you on single lane roads." No, wait, wait . . . what if their attorneys sent you a letter stating that your policy was never in effect because your car wasn't in very good shape and had a broken rearview mirror? Come on! Here's one more . . . you get a call from the insurer and a nice fellow explains that there's no coverage because you weren't driving at the time of the accident, your wife was.
Silly stuff, huh? No insurer's going to act this way, right? Think again, my salty friend. In the maritime setting, I've personally evidenced each of these positions having been taken by insurers. Marine insurance policies are very different animals from their shore-based counterparts. There's exclusions of coverage, there's warranties and there's a layer of general maritime law interpreting it all. Auto insurance is written for the masses and legislation largely insures that most policies look the same, which isn't always the case with vessel insurance. Even I'm guilty of sometimes tossing my auto policy into the cabinet without a thorough reading, but not my marine policy. I read that sucker from beginning to end. I want to know what the insurer expects of me and what I'm getting for the check I wrote them. A marine insurance policy is typically going to have various exclusions limiting your vessel's use during certain periods of time as well as the geographic local you can navigate, and it just might have a named operator provision.
Oh, yeah, there's a lot of riprap to be on the lookout for in your insurance policy. Come to think of it, maybe next time I shop around for boat coverage, I'll get the broker to pass me a copy of the policy before I write that check.
Underway and making way.
--- JKF
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