Saving You Money For Life

In five years of reviewing insurance claims from boaters, U.S. Marine Insurance found the most common reasons for damages. Hurricanes and lightning made the Top 10, as did fire and explosions. Mice, squirrels, raccoons and other animals wreak havoc on boats by ripping into upholstery, insulation and wiring. “They get into the engine compartment . . . that’s where they cause some of the worst damage,” said one insurance agent in Wisconsin.

Nationwide, striking a submerged object is the second-most common cause of a boating insurance claim, right behind hurricanes. Hitting something, such as a log or a submerged trash bin will almost certainly damage a boat prop and rudder. If the damage is much more extensive, it will result in a ‘sunken boat’ claim.

But for every boat that sinks while under way, four others go down at the dock. Some fill with rain and sink, and some are unfortunate enough to have leaky underwater fittings. Even boats with self-draining cockpits can be sunk by rainwater.

More after the jump…

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