Quote:
Originally Posted by Descant
I'd suggest that trying to insure a boat you don't own is some sort of fraud. Insurance companies are smarter than you might think.
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To insure a boat, you have to have an insurable interest in the boat. To insure a boat you don't own, trying to get a payment on a loss can be next to impossible, and as Descant, may very well be looked at as fraud.. Additionally, the company could deny the coverage and the purchaser of the policy could be on the hook for the payment. In the case of a liability claim, thousands or hundreds of thousands of liability would fall on your shoulders.
Dave