Boat InsuranceYou should make arrangements so that you have immediate boat insurance coverage in effect at the moment that the boat is yours. Some homeowners' policies can also include your boat, but make sure that the coverage is for all marine risks including oil spillage protection. Recent EPA and USCG regulations make you financially responsible for even small amounts that cause a 'sheen' on the water surface. It is also recommended that you carry at least $1,000,000 of boat liability insurance.
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