Memorial Day has come and gone and I can officially report that summer has begun. The swimming pools are open, the kids are out of school, and for some it’s time to bring out the boat to explore and enjoy the many great lakes and rivers that Arkansas has to offer. Before you head out on the water this summer, whether you have your own boat, or rent a boat, make sure that you have everything properly insured and up to code with the state of Arkansas.
For a motor boat to be legal to operate on public waters in Arkansas, the boat must be properly registered with the state. If the boat you are operating is over 50 horsepower, you must carry a minimum of $50,000 in liability insurance, along with an ID card on board to show your coverage.
When purchasing liability insurance for a boat, we at MFS Insurance recommend that you purchase higher limits of liability insurance than the required state minimum of $50,000. If you are in a boat collision your assets could potentially be put at risk in a lawsuit and liability insurance coverage can possibly help ease these types of risks. We also recommend getting other coverages such as collision coverage, comprehensive coverage, and medical payments coverage.
If you have any questions about the different boat insurance options that are available for watercraft of all sizes, please contact our MFS team or stop by any of our office locations in the Forrest City, Marianna, and Stuttgart areas.
Marianna (Smith Insurance): 870-295-2588
Forrest City (Flanagin Insurance): 870-633-1934
Stuttgart (Crum Insurance): 870-673-8586
Stuttgart (Smith & Company): 870-673-7221
Sources: DFA, DMV.org