Q: Is it NECESSARY for separate insurance coverage, when co-owning a piece of property, like a boat.Asking for a friend.
A: An Alabama attorney could advise best, but your question remains open for four weeks. Policies generally run with the vessel. However, this is something that should be discussed with the insurance carrier. Carriers could differ in their practices and standard procedures for underwriting their policies. For small boats or personal watercraft, homeowner policies are generally limited in the scope of coverage they provide. Your friend should consult the carrier. If it is a larger vessel requiring a true marine policy with a full range of coverage for hull & machinery, salvage, environmental, and other risks, brokers may present a detailed inventory of questions about ownership, operators, qualifications, etc. This is something to be discussed with individual carriers or their brokers. Good luck
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