News From BoatU.S. - Boat Owners Association of The United States

Hurricane Katrina's Damage To Recreational Boats Estimated at $650-$750 Million

Boat Owners Association of The United States, the nation's leading organization for recreational boaters, estimates that damage to recreational vessels as a result of Hurricane Katrina is between $650 to $750 million. Of that amount, only about half ($300 to $400 million in damage) was covered by insurance.

Katrina's losses far surpass last year's four-hurricane total of about $330 million in damages, as well as the $500 million in losses attributed to 1992's Hurricane Andrew. Until now, Hurricane Andrew was believed to be the single most costly natural catastrophe to affect recreational boating. Hurricane Katrina also destroyed an estimated 75 percent of the marinas along 150 miles of the Gulf Coast.

On the heels of Katrina, Hurricane Rita wreaked havoc on coastal areas of eastern Texas and the Louisiana bayou on September 24, 2005. Figures for boat losses attributed to that storm aren't expected for a few more weeks.

Boat Owners Association of The United States is the nation's leading advocate for recreational boaters, providing its 620,000 members with a wide array of consumer services including a group-rate marine insurance program that insures nearly a quarter million boats; the largest fleet of more than 500 towing assistance vessels; discounts on fuel, slips, and repairs at over 825 Cooperating Marinas; boat financing; and a subscription to BoatU.S. Magazine, the most widely read boating publication in the U.S.

©2005, Boat Owners Association of The United States. All Rights Reserved.

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