Does Michigan require boat insurance?
While Michigan law does not mandate boat insurance, we highly recommend it to all of our clients.
Michigan is well known for its boating enthusiasts.
We have over 10,000 lakes and miles of Great Lakes shoreline.
Despite being freshwater, the Great Lakes are also known as “inland seas”. This is because they present similar risks to ocean boating, including significant waves, strong currents, and considerable depths.
Sadly, thousands of boating accidents and fatalities occur yearly on these waters, with some individuals still missing.
As Ted Karamanski, professor emeritus at Loyola University Chicago, said, “We know more about the top of Mount Everest than we do about the bottom of Lake Michigan.”
Even though it’s not legally required, here are some Benefits of Having Boat Insurance:
**Liability Coverage: Protects you financially if you cause injury to someone or damage another boat, covering medical bills, legal fees, and repair costs.
**Comprehensive Coverage: This can protect your boat or items in or on your boat that are stolen or vandalized. It can also help cover repairs to your boat if it’s damaged in an accident involving other vessels or stationary objects.
**Medical Coverage: This can cover medical expenses for you or your passengers if injuries occur on your boat, often without a deductible.
Some policies also cover wreckage removal, fuel spill cleanup, and coverage for water sports-related accidents.
Given the unpredictable nature of boating and the potential for significant financial burdens from accidents or theft, this should be crucial for the protection of your property and loved ones.
We here at Shield Insurance Agency always strongly advise that you insure your boat to safeguard yourself and your investment during your priceless memory-making adventures.
If you have any questions or would like to discuss boat insurance options, please Call, Text (616-896-4600) or email us mailto:ContactUs@ShieldAgency.com.
