Beware of Insurance Risks:
The peer-to-peer sharing economy has recently hit the boating world, with the advent of Boatbound and Boatsetter, companies that help owners rent their boats to others. Other ways to share your boat are also cropping up, such as through Airbnb.com as a sort of floating hotel room. All of these programs offer a way to earn some money to offset maintenance and slip fees, but they are not without their risks.
If you’re thinking about renting your boat through one of these programs, be aware that nearly all recreational marine insurance policies, including BoatUS Marine Insurance, do not cover the boat during a rental period; that is considered to be commercial use that falls out…
Full Article: Scuttlebutt Sailing News – Beware of Insurance Risks, Editor