What concerns should I have about my marine insurance?

Typical all-risk pleasure boat policies of marine insurance contain a warning that the vessel will be used for pleasure purposes only. If the vessel is chartered, used for passengers for hire, or used for any commercial purpose without a written change endorsement, the coverage is voided.

Many pleasure boat owners are insuring their vessels with the same carriers that insure their homes and cars. The terms of these policies should be reviewed carefully. Typically, homeowners’ policies and general liability policies do not cover vessels or vessel operations without specific endorsements.