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Look Again: Does Your Boating Insurance Policy Provide Adequate Liability Coverage?

May 15, 2018 - in Insurance
With Victoria Day and the start of summer just around the corner, many Toronto families are preparing to head out on the water and enjoy the season by boat.

But while boating can be a wonderful summer pastime, it’s crucial to ensure that your friends and family members are safe and protected before you set sail. Each year, hundreds of boating, Jet Ski, and personal watercraft accidents occur near Toronto. Sadly, many of these accidents are not covered by adequate insurance, leading to ugly legal battles and financial hardship.

Be a Responsible Boat Owner: Ensure Insurance Coverage

Even the most responsible sailors and boat owners can experience accidents while out on the water. Collisions, capsizing, accidental storms or fires, and many other situations can crop up — sometimes out of nowhere.

Still, many falsely assume that they’d be covered if an accident or injury did occur. Read the fine print, and you may be surprised.

One of the worst types of situations that can occur while boating involves the injury of another party. Top-shelf insurance policies protect the boat owner from liability in the event that someone else is injured on their boat. But many other, more standard boating insurance policies consistently fail to offer adequate liability coverage, and many plans have large holes in them where the policyholder can be left footing the bill. This can even happen when close family members of the boat owner are injured — sometimes, family members who reside in the same household.

Young children are most vulnerable. You’d be surprised to learn that underage children who live with their parents (the boat owners) might not actually be covered if they are injured in an accident on or involving your boat. Oddly enough, unrelated individuals who are on your boat may be covered in the event of an accident and injury.

Right of Subrogation Clause

What is even more concerning is something called the right of subrogation, given to the insurer. In the event that your insurance provider is liable to pay for an accident victim on your behalf, this clause enables the provider to actually sue the responsible party and recover some of the money they’re meant to pay. This could be you.

Essentially, your insurance company can act as if they are the accident victim, suing the responsible or liable party. In some cases, you may be covered from this under another insurance policy that you have (for example, a homeowner’s policy). But this is not always the case.

How Can You Protect Yourself and Your Family?

The best way to protect yourself from a terrible incident involving an accident on your boat is to always ensure that you carefully read and review your insurance contract before you sign it.

Sometimes, however, that’s not enough. Insurance companies have tough lawyers on their side and won’t hesitate to do what they have to in order to protect themselves. If it’s too late to review your insurance policy and you’re currently fighting your insurance agency for coverage of a boating accident, it’s time to contact Ajax personal injury lawyer.
The Personal Injury Lawyers Ajax Residents Trust

Only a personal injury lawyer can help you fight for your rights after a boating or Jet Ski accident. Unfortunately, not all Ajax personal injury lawyers are the same. Choose the one who will work the hardest for your success — Steven Polak. A highly experienced and knowledgeable personal injury lawyer from our firm would be happy to take on your case and fight on your behalf.

To learn more about our experience and expertise and to set up your free consultation, contact us today.