Caution: Do Not Operate A Vessel While Under the Influence
Beware, boat owners: operating a vessel while intoxicated can have serious consequences. Drinking drunk or using drugs while operating a boat can cost you money, land you in jail, revoke your driving privileges, or even result in a deadly accident.
According to the US Department of Homeland Security and the US Coast Guard, the leading cause of fatal boat collisions is alcohol use while driving. Operating a boat while intoxicated is unlawful in all states and can result in legal and financial consequences, but it can also impact your insurance.
In rare situations, your insurance company may refuse to pay a boat damage claim if you were driving while intoxicated. While the insurer may pay a responsibility claim, if one exists, you will be financially responsible for repairs or replacement of your boat if you are not compensated.
Furthermore, if your accident was caused by alcohol or drugs, your insurer may elect to cancel your policy. Even if you do not have an accident but are convicted of a BUI, your insurance rate will undoubtedly skyrocket. Your insurance provider may also cancel coverage. While you can get insurance estimates from other companies, you may spend far more than you intended.
Is it mandatory to have boat insurance?
Boat insurance is required in some states. In addition, if you financed your boat with a loan or parked it in a space, your lender or marina will require proof of insurance.
Even if you paid cash for your boat and your state does not require insurance, it is prudent to safeguard yourself, your passengers, and your vessel. Assume you have an accident and injure the passengers on another boat. It can quickly add up if you are financially responsible for all repairs and injuries. Purchasing yacht insurance is always a good idea to protect yourself from financial catastrophe.
