Fishing is more than just an activity – it’s a way of life. It’s time on the water, finding the perfect fishing spot, the anticipation of feeling a tug on the line and reeling in what you hope to be a trophy-sized fish. Along with all the emotions and fun, comes the cost.
Did you know that last year Americans spent nearly $42 billion in fishing boats and tack? It’s not cheap to have all the gadgets, let alone own and maintain a boat. Don’t let damaged or stolen gear keep you out of the fishing game, make sure you’re covered with the right insurance.
Protect your fishing investments with these 7 boat and tack insurance coverages and policies:
Uninsured boaters insurance: This insurance provides extra medical coverage in case you are in an accident or collision with an uninsured boater.
Fuel spill and wreckage clean-up insurance: Occasionally, boat collisions require clean-up and it can be pretty costly. If you are deemed responsible for damages, you will be required to cover the clean-up costs and this insurance will help cover the expense.
Premises liability coverage: This coverage is particular important for commercial fishing businesses that perform fishing related actions on and off of the boat. It includes personal injury and medical payments coverage in addition to libel, slander, wrongful entry and invasion of privacy. This coverage will help you if someone is injured on or you’re liable for damages on your boat.
Storm haul-out insurance: In the incident there is an NOAA-named storm in your area, this coverage will help with the costs of hauling and making sure your boat is safe and secure.
Gear and fishing tackle insurance: Hull insurance will protect the components of your boat from loss and damage, be sure to add gear and fishing tackle insurance to protect your expensive fishing equipment.
Tournament insurance: Tournament coverage will provide you with the necessary liability coverage needed to compete in these tournaments. It may also cover any tournament entry fees, for example if the fees are paid but your boat is damaged before the competition, not allowing you to participate.
Charter boat coverage: If you are working as a fishing guide or are running a charter boat fishing operation, charter boat coverage is required by law and necessary to protect your business assets.
This Summer – Stay on the Water
Be sure to check with your insurance agent to understand what policies are right for you. These insurance policies help make sure you can spend as much time fishing as you want. Regardless of damage and unforeseen events, the right fishing insurance will get you back on the water as soon as possible.