Boat and Motor Renters Insurance!

Can anyone help or offer advice? I used to be able to buy short term, Water-craft rental, accident damage insurance, when I rented a boat and motor, but not anymore! Seems no one who rents boats and motors in Northern Wisconsin even offers it, or can provide it! Why can't I find "Water-craft Rental Insurance"? People who rent boats and motors while on vacation tell me "It's so expensive we don't offer it? Now, what you have to do, is sign a damage wavier when you rent a boat and motor, which means "YOU", the renter, are responsible for any damage done to the boat and motor, for any reason, while you are renting it! I have contacted several insurance agents in Wisconsin and just can not find anyone to provide "at any price" "Water-craft rental Insurance, for the renter, vacationers etc. Can anyone help me? The last thing anyone wants is to have an accident with a 5,10 or 20K or more, boat and motor, and NO Insurance! And, NO, I CHECKED, YOUR HOMEOWNERS INSURANCE WILL NOT COVER AN ACCIDENT WITH A BOAT AND MOTOR, (unless you own the boat and motor!) Which you might wind up doing after you have an accident with a rented boat and motor and NO INSURANCE! I don't get it? It doesn't make any sense! HELP!!!

Also Most homeowners policies will automatically cover liability for a boat up to a certain hp (usually 50). Without it having to be scheduled on your policy. Physical damage is still a issue.

Most places are you broke it, you bought it. All it takes is to hit a stump, wing dam, ect and you are talking a lot of money. I stopped renting and bought my own boat and motor. I know that is not an option for everyone, but at least I can protect it with insurance. I think that a call to whoever issues your credit card might be helpful. If you rent and pay with the card, there should be some protection. At least you could dispute the charge if something happened.

That is a good point Prop, hadn't thought of it that way. Usually the liability portion is the bigger concern though... Imagine the liability if someone you were pulling on a tube got hurt, or you crashed into another boat. Also, just had a thought... Many times if you pay for a rental with your Master Charge or Visa they extend some coverage. Might be worth checking into.

Umbrella policy only covers liability not physical damage. This is getting to be a problem with lots of rentals. Bigger outlets offer insurance but mom and pop shops usually don't. If your concerened, about the only way to have coverage is to have the rental place write up a bill of sale. Then call your agent. The problem with this could be you own damaged boat if the rental place doesn't want it back. I know a few people who have done this with the bill of sale to get coverage.

Wow, that is odd... You can get insurance when you rent a car... One thing that I would imagine that you could do is take a $1,000,000 umbrella out. An umbrella policy is referred to as a "Broad coverage policy" which covers you against any scenario on top of any other policy that you may have, or when your primary policy does not cover the peril. It will insure you against a car accident, slip, trip, or fall in your driveway, water skiing accident, snowmobile accident etc. Mine costs $134 per year. I'd check with your agent on that. Here is a link... http://en.wikipedia.org/wiki/Umbrella_insurance