Helena Frye
Renting a boat is an exciting prospect, but it's important to understand the insurance implications. Two of the most popular boat rental platforms are GetMyBoat and Boatsetter. GetMyBoat requires boat owners to hold the appropriate insurance, and offers renters optional trip insurance to cover cancellations, property damage and liability. Boatsetter, on the other hand, includes insurance protection with all rentals, covering damages, accidents, injuries and other incidents.
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What You'll Learn
- GetMyBoat requires boat owners to have their own insurance, while Boatsetter includes insurance protection with all rentals
- GetMyBoat offers optional trip insurance to renters, covering cancellations, property damage and liability
- Boatsetter's insurance covers damages, accidents, injuries, and other incidents
- GetMyBoat does not vet boats or captains, so quality assurance varies
- Boatsetter handles booking, payments and insurance
GetMyBoat requires boat owners to have their own insurance, while Boatsetter includes insurance protection with all rentals
GetMyBoat is a peer-to-peer boat rental marketplace that connects local boat owners with renters. The company requires boat owners to have their own insurance for boat rentals, and offers renters optional assistance, repatriation, and cancellation insurance. Trip insurance is also available to cover cancellations, property damage and liability.
Boatsetter, on the other hand, includes insurance protection with all rentals, covering damages, accidents, injuries, and other incidents. This provides security and peace of mind for renters. Boatsetter also handles booking, payments and insurance. The company charges renters a 10% service fee on top of the rental price.
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GetMyBoat offers optional trip insurance to renters, covering cancellations, property damage and liability
GetMyBoat offers renters optional trip insurance, which covers cancellations, property damage and liability. This is flexible, and renters can choose whether or not to take it out. However, GetMyBoat does not vet boats or captains, and quality assurance varies. The company also does not get involved in disputes.
GetMyBoat verifies boat owners and allows renters to view owner ratings and reviews from past trips. This gives renters an insight into an owner's responsiveness, professionalism, and how they maintain their boats.
Boatsetter, another boat rental platform, includes insurance protection with all rentals, covering damages, accidents, injuries, and other incidents. It is one of the largest peer-to-peer boat rental marketplaces in the world.
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Boatsetter's insurance covers damages, accidents, injuries, and other incidents
The insurance covers the boat during the rental period only. It includes towing and assistance for on-the-water breakdowns, with policyholders able to call for assistance and provide their Boatsetter membership ID number. The policy includes boating liability coverage for bodily injury and property damage, with a limit of $300,000 per person for each accident up to a total limit of $300,000 per accident. It also covers fuel and other spill liability, medical payments, uninsured boater coverage, and trailer coverage, if the rented boat comes with a trailer and is indicated on the boat listing.
Boatsetter's insurance policy has some requirements for eligibility. The boat must not have been modified in any way that is not endorsed or approved by the manufacturer. The boat must also maintain current insurance, registration, and any federally required licensing or other documentation. Additionally, it also must not be owned by a charter company or commercial operation that charters boats. Boats that are older than twenty-five years, boats that exceed $250,000 in value, boats that exceed 40-feet in length, and boats that can go faster than 50-mph will also require additional information before coverage is granted. As will pontoon boats, houseboats, and any boats that outboard, inboard, or sterndrive.
In comparison, GetMyBoat requires the boat owner to hold the appropriate insurance. It also offers optional trip insurance to renters, which covers cancellations, property damage, and liability.
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GetMyBoat does not vet boats or captains, so quality assurance varies
GetMyBoat offers optional trip insurance, which covers cancellations, property damage and liability. It is up to the boat owner to hold the appropriate insurance.
Boatsetter, another boat rental platform, includes insurance protection with all rentals, covering damages, accidents, injuries and other incidents.
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Boatsetter handles booking, payments and insurance
GetMyBoat, on the other hand, requires the boat owner to hold the appropriate insurance. It also offers optional trip insurance that covers cancellations, property damage and liability. However, GetMyBoat does not vet boats or captains, and customer service is mainly owner-driven.
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Frequently asked questions
No, GetMyBoat requires boat owners to hold the appropriate insurance. However, renters can purchase optional trip insurance, which covers cancellations, property damage and liability.
Yes, Boatsetter includes insurance protection with all rentals, covering damages, accidents, injuries, and other incidents.
GetMyBoat verifies boat owners and allows renters to view owner ratings and reviews from past trips. This gives renters insight into how owners maintain their boats.
Renters can purchase GetMyBoat's optional trip insurance when booking their rental.
