Boating Medical Coverage Medical payments work much like auto and homeowners insurance medical payments. Small injury's that do not exceed a certain amount will be quickly paid under this coverage. So, if you have $5,000 medical payment coverage on your policy and someone slips and breaks an arm on your boat- if that medical bill in under $5,000 it will be paid out quickly. However, if it exceeds $5,000 your liability coverage will kick in and it will take more time and paper work to satisfy the loss.