My boat is covered as are the contents. I was reviewing the policy and saw where I had $300K in liability and a buddy said that wasn't necessary. What do you guys carry on liability? This is for a bass boat.

I carry $100,000 had a buddy who got thrown out of a guys boat and the boat circled and cut part of his foot off he had no insurance put him in a world of hurt. Also have to have it to participate in TAS events.

I always love reading these threads on proposed insurance experts

Debra

So what should he have Debra since you fish and work in the insurance field

Since I am not his agent, I would be unable to comment in this case.

Debra

Some might could comment with an idea of appropriate coverage if they knew your total financial net worth, income, assets, liabilities savings and a host of other personal information.

Would be foolish for someone on a public forum to suggest a 20year old single unemployed guy have the same boat liability coverage as a senior family provider who is owner of a major business and real estate and other properties.

Find a financial person who does not sell insurance for an unbiased answer.

Basically what Lou said. It depends on the person injured. The more he or she is worth the more it can cost you. They can figure the value of his life or disability over the next 20 years. They look at what he could have earned and other things. And then they take the limit of your insurance and come after you for the rest. And they can take everything except your home. But really no one carries enough insurance to completely protect themselves.

This is why I tell all of my customers at my agency how insurance works. MOST of them have no clue.

What a coincidence. I always love reading "experts" make fun of people, make a comment, then say they can't comment. I asked a logical question on a public forum to learn more about the coverage I currently carry.

What I can't seem to figure out is why would someone need to carry more liability on a boat than they would on a car? Is your liability greater? Or because you drive faster and closer to other drivers isn't your risk higher in a car? You probably drive your car in higher risk conditions around those who are worth more money than you do on the lake. If I'm missing something, please explain.

My lawyer has said something about anyone can sue anybody for any amount any time. May not win their case, but they can sue.

Having more than one vehicle, also a boat, a residence, some real estate and properties and was having the same concerns as you which needed covered the most or least. For that reason, I have also have an Umbrella policy which adds overall protection and covers it all. Like shoes it may fit some and not fit others.

If you fish organized tournaments, they will typically set a min boat liability amount you must carry. Rates for significantly higher coverage limits you may find for you may be only a bit more so issue may be moot.

Good luck.

As I stated no one carries enough on anything to be completely protected. I own an insurance agency so i know how it works. To put it as simple as I can. And it doesnt matter what your driving, car, boat or bicycle.

If you injure someone in an accident. Your liability insurance will pay the persons medical bills but only to the limits you carry. So you carry the minimum of 30/60/25 which means they get 30k from your carrier if their bills are that much. If the bills are more then YOU may have to pay the rest. So you injure someone that turns out paralyzed for the rest of their life. The lawyers look at what they are worth to their family for the next 20 years. So now you look at what they earn in a year and what the potential earnings are for the next 20 years. If that person works at sonic making 12k per year then they come at you for 240k less the 30 paid by insurance so you now owe 210k. IF you had more coverage, like 300/500 then your out nothing. BUT you have the same thing happen to a person making 100k per year, then they come at you for 2 million minus the 30k paid by your carrier. You do the math. And they can and will sue to take everything you own except your home. How much is enough coverage? What ever you feel comfortable with.

Thanks guys for your candid advice. That is what I was looking for when I posted this.

With that information now stored away, I think I am going to opt to become a recluse. It is too much the risk to even walk out the door and get in my truck. I know what the people around me must make and I can't afford to be on the road, much less the lake.

LOL.. Thats a good one. I know its a bad sounding deal, but really it rarely happens. Also what I posted is in Texas. Most states are the same but some are different. Its like anything else, you just have to protect yourself and your property. Even with what I know I still only carry 100/300 on my vehicles and 300k on the boat. I fish FLW and 300 is a requirement so I have no choice on the boat policy.

And we cant really tell you what to get or what we think is enough. Liability issues. If an insurance guy tells you 100k is plenty and something happens and it cost you more in a worst case scenario, you could sue the insurance person for you not having enough coverage. He told you that you had enough.

$300,000 is what I have. Check with Bob Lullen and he will tell you why. Even if you don't have insurance with him, he will discuss what you need. This is cheap, it raised my premium about $10 a year.