What is Boat Renter’s Insurance?

This insurance product covers the boat renter or a named operator pre-screened and pre-approved by vQuip for damages or injuries to third parties they cause while operating the insured vessel. This would usually include accidentally running into the dock, hitting another vessel, or causing injury to someone other than a family member.

Who needs this insurance?

In our opinion, anyone who wants peace of mind throughout their trip would benefit from this product. The price for boats and healthcare have increased significantly over the past 3 years. A brand-new boat typically costs between $40,00 and $75,000 with many more costing above $100,000 so any damage could result in a high cost pushed back to you. Additionally, potential injury claims could further increase these costs.

Who is covered under the policy?

The individual who rents the vessel will be covered. Additionally, anyone who is named during the check-in process and gets pre-qualified, approved, and listed on the policy by vQuip will also be covered. This does not cover anyone under the age of 18 or anyone not specifically named on the policy.

What could I be liable for?

You could be liable for any injuries to your guests or damage to other people’s property. This could include hitting a dock while going to a restaurant or injuring a person from another group.

Am I covered for watersports?

This policy will respond to watersport activities as long as the Named Operator or the renter is operating the insured watercraft. It will not cover injuries to the family members of those operators, nor will it respond to injuries caused while an unnamed operator is at the helm.

Am I covered while I or the guests are in the water?

No, this policy does not respond to in-water activities absent the covered vessel’s operation by a named operator. If you accidentally hit a guest or third party other than a family member with the insured vessel while they are in the water, though, this policy will respond. Please always shut off your engine while people are in the water and near your boat, though.

What is a claims adjustment expense?

Have you ever seen how much a lawyer costs nowadays? Yikes! Luckily, this covers the cost to investigate and defend a claim against you or the named operator for any injury or damage you or the named operator caused to a third party while operating the vessel.

Can I drink and operate the vessel?

Absolutely not. This policy warrants that neither the named insured, renter, nor named operator will operate the vessel while impaired by or under the influence of any narcotics, alcohol, intoxicants, or drugs used with or without a prescription. Operating any watercraft or machinery is inherently dangerous for the operator and everyone around them.

I may be impaired, or I don’t feel safe to operate the vessel. What do I do?

Do not give control of the vessel to anyone not listed on your policy, and contact the marina right away. Their contact information should be located with your rental paperwork and on the vessel. They will be more than happy to provide assistance. Safety is everyone’s #1 concern!

I have to submit a claim.  What do I need to do, and what information should I provide?

If there’s an emergency, contact emergency services immediately if the situation requires necessary action and assistance.

• Upon your return to the dock, notify the dockhand immediately. They will walk you through the remaining process.
• If you need to submit a claim after you have left the facility, call vQuip to notify them of the incident.
  • If the main operator purchased a vessel charter insurance policy, then you need to speak with a vQuip licensed insurance agent to initiate the claims handling process
    • 704-496-9002
  • If the main operator did NOT purchase a vessel charter insurance policy, then you can speak with any vQuip team member for guidance through the claims process
• You should also fill out an incident report that includes the following information:
  • Named Insured, including contact information.
  • Policy number
  • Date and time of incident
  • Location of incident
  • Name of operator at time of incident
  • Name of rental marina
  • Description and current location of the vessel
  • Description of the incident
  • Any injuries?
    • If yes, name of injured parties and description of injuries
  • Any pollution concerns?