Whether you own a boat or are thinking about getting a boat, we will share helpful information with you to help you navigate boat insurance. Boat insurance is not currently required in New York, however, like your car it’s recommended to get insurance in case you need to fix or replace a damaged vessel.
Boat insurance is pleasantly inexpensive. Covering your boat and your family onboard can cost on average only around $20 per month. However, there a several discounts available that may make it even more less expensive! If you package your boat insurance with your home and auto insurance, pay the full-year rate upon signing up for insurance, or taking a boaters safety class which can save 5% are a few ways to drop your insurance rate.
It is possible your boat may qualify for a discount. Ask your agent about the following that may help you discover some cost-savings:
The size of your boat, motor size or top speed of the boat, style, and value all are considered when an insurance agent shops for your boat insurance coverage.
Boat insurance covers physical damage to your boat. It will also cover theft or medical bills including bodily injury to passengers and other boaters.
It is possible it may not cover normal wear and tear, gradual deterioration, insect damage, marring, denting, mold, animals like sharks or zebra mussels, scratches, manufacturer’s defects, ice, or damaged machinery.
Talk with our specialist and they’ll be able to tell you what coverage is available and match them with what your needs are.
There are two kinds of coverage available, an actual cash value and an agreed amount value. How depreciation is handled is what differentiates them.
Most of the boat insurance policies will allow anyone you give permission to operate your boat. If you have a high-performance boat or personal watercraft, there may be exceptions to this so be sure to discuss this with a knowledgeable agent. To add more drivers to your policy may increase your premium.
Depending on what type of policy you go with, you may want to consider some of the most popular add-on coverages.
In conclusion, the cost of your boat insurance depends on the coverage, limits, and deductibles you choose, the type and size of boat, and where you will use and store your boat. Contact Simco for a free quote for whatever watercraft you need coverage for and consider bundling your home and auto and save money.
Designed and Developed by Vessel Digital Marketing