Thinking about renting your boat???

Posted on by David Graham

Renting your place with your boat…


More and more, people are renting their homes via apps and sites like; airbnb, VRBO and many more.
This is often great for the renters and the owners.

5 Considerations:
1st- Is it legal in your area to rent your home


2nd- Does your home insurance policy cover your for rental exposures?


3rd- If you have a boat on the premise?

Do you have insurance for rental watercraft coverage?  This is not standard in boat and yacht policies.


4th- You will need a rental agreement that is specific to the boat.  You will need a Hold Harmless or Liability waiver and a safety checklist where the renter checks and initials you’ve covered the starting procedure, stopping/docking procedure,

they agree to follow the safety guidelines/laws for the waterway, including life jackets and staying seated while the boat is in motion…

You should also have a navigation map for the waterway and highlight trouble areas


5th- Remember the gov’t wants their share from the rental as well

 

Give us a call and we can help provide you with information you need for your protection.

Charter Lakes has boat insurance for personal or commercial use, including boat rental.  Give us a call for a boat insurance quote (800)879-2248