Brunswick, Sea Ray, Join Boatbound To Help Owners Rent Their Boats.

BOATUS, Marine Insurance program magazine "Seaworthy," July 2014 issue , page 13, has an article titled Insuring Peer-To-Peer, commenting on your boat rental, saying " there is no coverage for a recreational boat during the rental period!" The Boatbound, Cruzin, and Boatsetter rental operations model are all internet driven and its a buyer beware situation. There are plenty of used SR boats across the country on Craigs List. Why don't we all pitch in and buy a boat for this lease program and see what happens. Maybe we could make enough to buy a replacement for the one torn up through the lending process. That way we will have no issues with upkeep, just continue to discard the old one. By the way where do you discard old boats.
 
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BOATUS, Marine Insurance program magazine "Seaworthy," July 2014 issue , page 13, has an article titled Insuring Peer-To-Peer, commenting on your boat rental, saying " there is no coverage for a recreational boat during the rental period!" The Boatbound, Cruzin, and Boatsetter rental operations model are all internet driven and its a buyer beware situation.

I'm not endorsing any of these companies or the premise. Yet, it's clear your standard policy will not cover this. That's why insurance coverage is part of the deal with these companies. The main issue isn't accidents.....it's damage from abuse that might not show up until well after the rental.
 
I wonder how this works with insurance? Does the policy allow you to rent your boat to strangers? I think you're covered if you let your buddy borrow it for an afternoon, but using it as a source of income might be a different story.

I think the point is when it's being rented their insurance covers the boat, not yours. I also read the "renter" terms and they say they pre-screen any potential renters. You gotta wonder how well.

The problem with renting it and serving as captain is a captains license isn't super quick or easy to obtain. It's a process. While the site doesn't say you must have a captains license, I'm sure it's required.

BOATUS, Marine Insurance program magazine "Seaworthy," July 2014 issue , page 13, has an article titled Insuring Peer-To-Peer, commenting on your boat rental, saying " there is no coverage for a recreational boat during the rental period!" The Boatbound, Cruzin, and Boatsetter rental operations model are all internet driven and its a buyer beware situation.

I'm not endorsing any of these companies or the premise. Yet, it's clear your standard policy will not cover this. That's why insurance coverage is part of the deal with these companies. The main issue isn't accidents.....it's damage from abuse that might not show up until well after the rental.

I would be more concerned about other liabilities such as injury or death while it was being rented. Sure, the rental company is supposed to cover everything but I would not put my trust in an insurance company that I didn't have direct contact with. Not to mention an opportunistic attorney looking for a civil suit against the boat owner.
 
Not sure this concept is truly tested. There are 2 time-share boats on our dock and these boats are being operated by the under 30 crowd and the boats are pretty tore up. These boats typically go out with 10+ people onboard, so I would expect that a lot of use/abuse would be done. I would expect the net profit of renting your boat would be minimal, not something I would consider.
 

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