| Consider this scenario: You win the lottery and, finally, | | | | Consider this: You have your friends out on your |
| your dream of owning a yacht comes true. Now you | | | | yacht one beautiful summer day. One of them isn't |
| are rich enough to buy one and that's exactly what | | | | wearing a life jacket and falls into the water after |
| you do. Then you may think to yourself, "I don't | | | | the yacht crashes into a big wave. Despite your |
| need boat insurance. If my boat gets damaged in an | | | | efforts of trying to save him, he drowns. His family |
| accident, I have so much money that I can just pay | | | | would be quite likely to sue you and a boat insurance |
| for the repairs myself." This may be true, but you | | | | policy would cover your liability. |
| also need to consider the liability coverage that a | | | | Don't think a scenario like that could happen to you, |
| boat insurance policy offers as well. Liability coverage | | | | especially since you take every safety precaution |
| is a lot more important than physical damage | | | | imaginable? Then consider this: While your boat is |
| coverage, especially since you just won the lottery. | | | | parked at the pier, some teenagers decide to |
| Here's why liability coverage is important for lottery | | | | trespass and walk onto your boat. One of them slips |
| winners. When people know that you are rich, you | | | | while walking on the boat and breaks his neck. He |
| could be a target for lawsuits, especially frivolous | | | | could possibly sue you too and know safety |
| lawsuits. They know you have the money and you | | | | precaution can guard against this type of scenario. |
| would be able to pay. Do you really want to risk | | | | So, if you win the lottery and decide to buy a yacht, |
| losing all of the money that you won in the lottery? | | | | be sure to get a boat insurance policy whether or |
| Of course not! | | | | not you think you need one. It is very important. |