June 17, 2022 | Legal Alerts
The Ins and Outs of Commercial and Charter Boat Insurance
Boats are used commercially for many reasons. Some owners will allow their boat to be chartered, often for a day out on the water or as a fishing boat. Others may use commercial boats for transport or to move cargo. Either way, boat accidents can result in significant liability for the owner when an accident causes injuries to passengers, damage to other boats, or the loss of cargo. Major insurance companies offer commercial boat insurance that protects boat owners if there is an accident.