The people behind Seaworthy, an insurance publication with Boat US has compiled eight years of insurance claims and come up with the list of the top ten most expensive claims.
They also give advice on preventing or reacting to the causes of these claims.
Often prevention is the key to helping reduce the chances that your boat becomes a claim.
The list from smallest to largest in terms of money spent on claims is as follows:
#10. Lightning: Make sure to haul out your boat after a lightning strike to check for “exit wounds” that can compromise the hull’s integrity.
#9. Theft: 90% of boats are stolen on their trailers. Make it as difficult as possible to simply hitch up and run.
#8. Injury: Many injury claims involve inexperienced guests. Be sure to warn your non-boating friends about wakes, waves, slippery surfaces, and other hazards.
#7. Grounding: Accurate charts – whether paper, electronic, or on a mobile device – and a depth sounder are your best defense against grounding.
#6. Collision: Most collisions result from some combination of three factors: inattention, blind spots, and too much speed.
#5. Fire/explosion: Faulty wiring causes most fires; most explosions result from fueling issues.
#4. Striking a submerged object: If you hear a loud clunk from down under, stop and look in the bilge, and, if you find any water coming in, haul out the boat to check for structural damage as soon as possible.
#3. Weather/wind: Keeping your boat in a well-protected location away from trees is the best way to protect it from non-hurricane weather damage.
#2. Sinking: Check, squeeze, and tug all fittings below the waterline at least once a season to make sure your boat stays afloat.
#1. Hurricane: A well thought out hurricane plan can keep your boat safe in all but the most extreme storms.
Check out BoatUS.com for more information.
Photo credit: Christine Doyle:Boat US site