12/12/2023
BOAT INSURANCE FOR LITHIUM BATTERY
Just a few years ago, marine insurance companies were hesitant to cover the installation of lithium batteries for boats. However, now that Lithium Battery chemistry is well known and the technology & system design has advanced to where some people consider Lithium batteries to be safer than Lead Acid!
In the past year or two, lithium batteries for marine use have skyrocketed, even in the highly conservative boating industry.
This article is meant to provide advice on Lithium Battery installations.
There are two main reasons why insurance companies were hesitant.
Firstly, the older lithium ion batteries for boats wasn't as safe as today's lithium battery chemistry Lithium-LiFePO4.
Secondly, Marine Lithium batteries behave very differently from Lead Acid. Typical chargers that measure SOC (State of charge) by Volts don't work with Lithium batteries because the voltage doesn't change very much. For Lithium we need a BMS.
A battery management system (BMS) is a device that controls and protects your boats Lithium batteries. It is the gateway between the battery and your electrical system. A BMS, as it is commonly called, controls and protects your battery from excessive voltage and excessive temperature. External factors that cause too high a voltage charge will cause the BMS to shut down the battery to protect it. The same happens if the voltage goes too low. A BMS can either be inside the battery (Drop in) or outside the battery.