The State of Tennessee does not actually require boaters to carry any insurance, however, there is no one who thinks it is wise to leave such a large investment uncovered. And while you may not be required to have coverage, you remain liable should someone become injured or should someone’s property be damaged due to a boating accident.
The Following is A Guest Blog from Augustine Insurance Group:
Augustine Insurance Group offers some information to Tennessee boat owners in this Guest Blog to help insulate you from liability and to help assure that you are able to recover financially should something go awry.
Insurance for Tennessee Boaters:
Tennessee law doesn’t require boaters to carry insurance. However, by getting coverage, you can rest assured that you have financial assistance in case you have to pay for recovery costs arising from a wreck or other accident. Some of the coverage you need is:
Liability Insurance: Coverage insures you against the property damage or injuries you cause to third parties, such as other boaters. It is important to carry this coverage because it will help you repay someone else if you are at-fault for their losses in a wreck.
Physical Damage Insurance: Coverage will help you pay for damage to your own vessel. It will usually include collision insurance, to cover wreck damage, and comprehensive coverage, that pays for other types of damage, such as theft or fires.
Uninsured Boater Insurance: This component of your policy will cover your boat’s damage if someone else hits your boat but does not have liability insurance available to compensate you.
Guest Passenger Liability Coverage: If you decide to hand the keys to a family member or friend, then there’s a chance they might cause an accident. They might not have boat insurance of their own. You can make sure they have they have at-fault coverage under a guest passenger liability policy.
We all head to the lake to have fun. Having insurance means that you are protected for potential financial risks in case of problems.
About Augustine Insurance Group:
For over 40 years, Augustine Insurance Group has provided top-of-the-line, expert-backed insurance policies throughout Tennessee and Kentucky. Our dedicated agents can help you determine the boat insurance that’s right for your vessel, and we’re more than happy to help you maximize your policy’s affordability at the same time.