What is Protection and Indemnity (P&I)?
Protection and Indemnity (P&I) refers to the liability section of the policy. This is coverage for bodily injury or property damage that results from the use of your watercraft (i.e.: damage that you do to another boat or bodily injuries that arise from this damage). You are covered while operating your vessel, as well while operating vessels owned by others. It also pays your defense costs over and above the policy limits if you are found legally responsible for bodily injury or property damage to a third party.
