Boating conjures up images of open seas, adventure, freedom. Boat and marina owners, however, must tend to down-to-earth details for both physical and financial safety. These responsibilities include managing boat wakes. These water disturbances and waves boats produce during navigation can cause damages and injuries. Marinas could see expensive damage from boat wakes, especially if they are amplified by conditions such as wind. To safeguard against threats to assets, marina owners should consider buying boat wake damage liability.
Types of Potential Damage
Boat wakes can cause multiple types of losses, including:
- Risky conditions for nearby swimmers
- Destruction of marine life and ecosystems
- Swamping of smaller craft
- Coastline erosion
- Damages to seawalls and coastline locations, including marinas
Liability for wake damage rests with boat owners. This is the case in open water as well as no-wake areas. However, should a court find a boat owner not guilty, a marina owner with a damaged structure has to pay for repairs out-of-pocket. Furthermore, if people are injured, they may sue marine owners. While a win in this scenario is not likely, marina owners still must pay legal defense expenses. The right type of insurance is an important safety guard, as it can help with court costs and repairs.
Boating is about adventure, but marina owners should keep assets safe with the right coverage. Damage to boats, structures, or people from boat wakes could wreak havoc with finances. Choosing specialized insurance helps marina owners stay afloat.
