Thursday, June 30, 2022

Do You Need Boat Insurance In Ny

Is Insurance Required To Register A Boat In The State Of New York

Do I need Boat Insurance?

You dont need insurance to register a boat in New York as of 2011, but the state does require insurance to register a boat trailer. New York law requires registration for pleasure boats propelled by motors whether you use the engine all of the time or just occasionally. While the state does not require boat insurance, lenders generally do if you borrowed money to buy the boat.

Which States Require A Boat License

According to the United States Coast Guard and the U.S. Department of Homeland Security, the second most common boating accident is due to inexperience. This has led to 480 boating accidents in 2016 alone.

Boating is far less regulated than operating a motor vehicle such as a car. Only a handful of states require you to have an actual boating license, including:

  • Alabama
  • Georgia
  • Mississippi

However, even though most states dont require a license, they may still have other requirements.

Brad Goldberry, Agency Producer with Farmers Insurance says, State licensing differs from state to state, but many states require some kind of personal boating license or course.

Before you head out on the water, make sure you review your states requirements. Its always better to be safe than sorry.

The New York Boating Safety Certificate

The New York State requires particular boat drivers and operators to have a NY Boating Safety Certificate. The state, however, along with most others, does not require a license if you are looking to operate your personal boat for recreational purposes.

So, do you need a license to drive a boat in NY? Some licenses have strict requirements if you are looking into operating a boat on a professional level like sightseeing tours, commercial boats used for work like tugboats and ferries, as well as commissioned fishing.

New York State also acknowledges those safety certificates issued by the United States Coast Guard Auxiliary, the US Power Squadrons, and US Powerboating. Boating Safety Certificates from a number of available online courses from recognized providers are sanctioned for New York State residents.

This certificate, often mistaken for a license, proves that its bearer has successfully completed an approved New York Safe Boating course. You are required to have the Boating Safety Certificate on you anytime you are operating a powered watercraft otherwise, you will be obligated to pay costly fines.

One of the easiest ways to get a New York boater education card is on AceBoater.com. With AceBoater, you can study at your own pace and pay only when you pass the exam. You can then print your lifetime certificate and start boating the beautiful waters of New York.

Another option for getting a New York boating license is BoaterExam.com.

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Reasons You Need Boat Insurance In New York

Owning a boat in Burnt Hills, NY is a luxury. While youve put a lot of time and effort into caring for your boat and using it, dont you think its a good idea to insure it, as well? At Anthony Catalfamo Agency LLC, we think so, and thats why weve put together this handy list that gives you three reasons why you need boat insurance. Read on to learn more.

1. Get Protection Against Liability

If you were to cause an accident with your boat, youre liable for any damages and/or injuries to the other party. A boating accident doesnt need to involve another boat, however, and can happen regardless. Someone could get injured waterskiing, or another accident could occur thats your fault and for which youll need boat insurance to protect you against liability. This, in turn, will protect your assets, like your boat, home, car, and savings that you might have to use if not insured.

2. Repair Your Damaged Boat

If your boat is damaged, whether its your fault or not, you can submit a claim to fix the damages. If you have a boating accident with an uninsured boater and your boat is beyond repair, youll need a policy of your own to cover the costs. Without a boat insurance policy, you will have to replace your boat out-of-pocket.

3. Replace Your Stolen Boat

This point is straight forward. Boat insurance covers a boat getting stolen. Without boat insurance, youre out of a boat.

Anthony Catalfamo

Average Cost Ranges Of Boat Insurance

Salvione Insurance Agency, Inc.

Boat insurance premiums range from low to costly, Galbreath says, and some small motorboats may be endorsed onto an existing homeowners policy for little extra cost. However, he says there are limits in the policy for the boats length, motor horsepower and maximum speed.

You should consider separate coverage if you have a large, fast boat, he says. And the faster and larger you go, the higher the cost.

So depending on the size, speed and location of your boat, your policy may cost as little as $100 a year up into the thousands. Most rough estimates we found were less than $1,000 per year.

When you meet with an insurance agent to discuss what level of boat insurance coverage you need, Shasha says to be sure you discuss the following factors, all of which influence the cost of your policy:

  • Your level of boating education
  • The boats safety and security features
  • If the boat is a hybrid or electric
  • If youre insuring more than one boat with the same company
  • If you have another policy, such as auto or homeowners, with the insurer.

Working with an insurance representative to create a marine insurance policy that fits your individual needs and budget can help protect you, your loved ones, and your assets in the event there is a boating accident, Shasha says.

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Frequently Asked Questions About Jet Ski Insurance

  • Do you need a license to ride a jet ski?

    The requirements vary by state. Some states require you to have a boat or watercraft license to operate a jet ski, while others require it only for drivers up to a certain age. Yet other states allow you to drive a jet ski with a standard drivers license for a car. Check the requirements with your states traffic or public safety department.

  • Does my homeowners insurance cover renting a jet ski?

    No, most homeowners policies exclude liability or damage to your belongings while using a motorized watercraft like a jet ski. Consider buying at least liability coverage from the jet ski rental company.

How Much Does Jet Ski Insurance Cost

Basic jet ski policies can start at $100 per year or $8 per month, but it goes up from there. Insurance companies consider many different factors when coming up with your premium. So the cost will vary based on the following factors:

  • Your jet skis make, model and year
  • Engine power
  • Your credit score

Read Also: Who Owns Freedom Boat Club

Best Boat Insurance Providers Of 2021

Best For Additional Coverage Options: Foremost

Do I need boat insurance

Foremost

  • No. of Policy Types: 3
  • Coverage Limit: Varies

Foremost offers various boat insurance packages with unique add-ons including trip interruption services.

  • Unique add ons like onboard pet coverage

  • Trailer coverage

  • Contact agent for specific coverage maximums

  • Website could give more details

Foremost is a part of the Farmers Insurance Group of companies. It is a specialty insurance company that has been in business since 1952, and it’s known for providing affordable coverage for boat insurance in all 50 U.S. states. Foremost offers some unique coverage options for an additional premium, including hurricane haul-out, enhanced towing services, fishing tournament fee reimbursement, additional pollution liability coverage, pet coverage and trip interruption service.

There are several discounts available through Foremost that are designed to save you money on your premium. This includes a lay-up discount, paid-in-full discount, boating safety course, protective device discount, multi-policy discount, multi-unit discount, loss-free renewal discount, prior insurance, insured age , and affinity and alliance discounts for boat operators who are a part of an approved affinity group or alliance organization. Coverage is also available for classic boats over 25 years old.

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How Do I Apply For Jet Ski Insurance

Buying jet ski insurance involves a fairly straightforward process. Follow these steps to apply:

  • Compare your preferred companies. Visit a few websites or call around for insurance companies that offer personal watercraft insurance. In some cases, youll select the style of watercraft you want from the boat insurance menu.
  • Start your application. You can get a quote online or by calling the customer service department. Youll need to fill in details about yourself, your jet ski and your claims history.
  • Receive your quote. In many cases, you can receive a quote immediately and opt to buy the policy on the spot. Other companies will review your information and call you with your quote.
  • Accept the policy terms. Once youve chosen a company, review all the required documents and sign if you agree to the terms and conditions.
  • Start your coverage. Last, you can finalize your payment method, pay the initial premium and start your policy on the date selected in your application.
  • How Much Coverage Do I Need

    At the very least, you need enough coverage to meet your state, marina or lender requirements. Consider buying the highest liability coverage you can afford since liability claims for injuries or death can cost tens of thousands of dollars.

    Beyond that, youll likely want to consider adding comprehensive or collision coverage to protect the full value of your jet ski. You can choose to insure it at its actual market value or brand new replacement value.

    On the other hand, if your jet ski is a few years old and paid off, you might decide you can take on the risk for physical damage to your own property if youre comfortable self-insuring and paying for damage out of pocket.

    How does actual cash value work with jet ski insurance?

    When you insure a depreciating asset like a jet ski, you have the choice to insure it for an agreed value or the actual cash value. Say your jet ski cost $10,000 brand new and you insure it at its actual cash value. If it gets damaged one year later, youll only receive the market value that its worth that year, not the amount you paid for the jet ski. That means you can replace it with a one-year-old used jet ski.

    But if you buy an agreed-value policy with $10,000 in coverage, youll get the full amount even if the jet ski has decreased in value. That means you can buy a brand new jet ski to replace your old one. Expect higher premiums on your policy though.

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    Find What You Should Be Paying For Coverage

    Our independent agents shop around to find you the best coverage.

    If having fun on the water appeals to you, then you might find yourself in the market to buy a boat. You could purchase a boat for fishing, speed boating or sailing, or a pontoon to float around casually. Just as you insure your car and your home, it’s a good idea to get adequate insurance coverage for your boat.

    As you research your options for boat insurance, you might have some questions about the cost, what kind of coverage you should purchase, and what insurance company carries the best policies for your dollar.

    An independent insurance agent can help answer your insurance questions and get you on the right track for saving on your boat policy. Contact an independent agent today to get started.

    Save on Boat Insurance

    Our independent agents shop around to find you the best coverage.

    How Many Passengers Does Boat Insurance Cover

    Insuring the Lake Life

    Boat insurance typically covers every member of the family on the boat. While the owner is covered in the basics, the family members come under liability. One thing you need to remember is that the water skiers that you pull behind your boat are not covered in this policy.

    While comprehensive coverage does provide protection from severe damages, its possible that under boat insurance, you might not be covered for windstorms, tornadoes, and hurricanes. For this, you will have to talk to your insurance agent. The last hurricane to hit Connecticut that did unspeakable damage was in 1683. After that, there have only been small windstorms. So you should definitely look into storm damages when buying boat insurance.

    Now that you know how beneficial boat insurance can be, its best to call your insurance agent and talk about how it can be added as additional coverage to your existing insurance policies. You never know if they might give you a discount for being a loyal customer. If you are looking for trusted insurance company, then visit Pawson. We provide different types of insurance policies for families and individuals. To know more about their policies, contact them at today.

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    How Does Boat Insurance Work

    Boat insurance works the same way as car insurance does. If you damage your boat or cause injuries or damages to someone else, you file a claim with your insurer asking them to pay for the damages. If the incident is covered, your insurer pays for the losses or injuries up to your coverage limits.

    Important note: One of the biggest myths about boat insurance is that you dont need it because you’re adequately covered under your home insurance policy. While your home’s policy may provide some protection for a smaller boat while it’s on your property, it won’t offer the coverage you need on the water especially if you’re operating a powerboat.

    What Is Not Covered By Boat Insurance

    Your boat insurance policy will not cover depreciation, wear and tear, machinery damaged in a breakdown, and willful misconduct.

    Purchasing boat insurance with Western Financial Group, Canadas Insurance Broker protects your investment and finances and gives you peace of mind while you are enjoying your hard-earned boat trip.

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    Why You Should Consider Buying Boat Insurance

    Yes, the state of Connecticut does not require you to buy boat insurance but if you love being on the waters, then this insurance policy definitely works in your favor. Lets have a look at some of the basics of boat insurance:

    When it comes to buying boat insurance, there are three things you need to consider: the coverage amount you need, the deductible you are willing to pay, and the type of coverage. Heres an example to help you better understand how boat insurance works:

    You were in a boating accident with your family. Your boat collided with another boat and the jolt tipped your 15-year-old son into the water. Luckily, the water was pretty tame that day and you, being a good swimmer, were able to save your son. The rest of the family sustained minor injuries, and you had a few scratches on your arms and legs because of sliding on the deck.

    Depending on this situation and on your and other boaters insurance coverage, the following things can happen:

    • If the collision happened because of you, then liability insurance will protect you from the injured partys boat damage and medical bills.
    • If the collision happened because of the other boater, then his/her insurance will cover the damage and medical bills depending on the policys limit.
    • If the collision happened because of the other boater, but he/she does not have boat insurance, you will receive any monetary compensation for the damage and medical bills unless you have an uninsured boat.

    Best For Professional Fishermen: Markel

    Do I Need Boat Insurance or is My Boat Covered on Home Insurance?
    • No. of Policy Types: One custom policy
    • Coverage Limit: Contact for details
    • Price: $100+/year
    • Policies tailored to your boating needs

    • Free online quotes

    • Need to contact company for policy details

    • Website could be updated

    • Not as well-known as other providers

    The Markel Corporation is a specialty insurance company that offers specialized coverage for boats. They have an A rating from A.M. Best and an A+ rating from the Better Business Bureau. The company has been in business since 1930 and offers comprehensive boat insurance policies for boats and personal watercraft . The Markel policy has an option to add coverage if youre a professional fisherman which provides replacement cost coverage for a preset agreed upon value of fishing equipment. Several discounts are available including an accident-free discount, operator over age 40 discount, and an experienced boater discount for boaters who have five years or more of boating experience. If you happen to qualify for all of the discounts available through Markel, you could save up to 35% on your boat insurance premium. Extra features also come standard without having to pay an additional premium.

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    How Much Does Boat Insurance Cost

    According to the Insurance Information Institute, some homeowner insurance policies cover damage on small boats or watercraft with less than 25 mph horsepower.

    Be careful, though, because coverage tends to be low sometimes only $1,000 or 10% of your homes value. Larger watercraft need to carry their own policies.

    For example, Progressive starts their boat insurance at $100 a year depending on the value of the watercraft and additional coverage you need. They also offer discounts including:

    • Safe boater: You have no violations or accidents recorded for the last three years.
    • Pay in full: If you pay the entire year upfront.
    • Original owner: If you have been the only owner on your boat.
    • Homeowner policy: If you own a home, townhome, or condo .
    • Multiple boats: You have more than one watercraft or boat to insure.
    • Safety course: Completed a state-approved boating course.
    • Multiple policyholders: If you insure a car, home, or anything else, you could receive a discount for bundling.

    Some insurers place limitations and restrictions on the type of boats they will cover. Be sure to double check before moving forward with any policy or boat purchase.

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