Boat Insurance for Tri State Boaters
Boating in the Tri State Area is a favorite pastime for many residents and visitors and for good reason. There are so many fun and exciting things to do and enjoy. In fact, some people make major investments in their boats and those investments need to be protected with custom boat insurance. Why choose insurance customized to your needs? There are many reasons to do this, and here is an example which demonstrates the value of having the right insurance for your vessel.
Henry L was the proud owner of a 50 foot yacht and loved to cruise the ocean with friends and family. In fact, in warm weather he traveled up and down the Atlantic Coast and sometimes went all the way to St Augustine Florida to visit family. Henry's yacht was more than just a seaworthy vessel, it was his home away from home and he loved being out on the water.
Last year, Henry was planning a fun trip along the coast and planned to take along 7 guests. When he told his wife, Alice, she asked him if he had plenty of insurance. Henry told Alice he had full coverage, but Alice wanted to know about passenger protection, because Henry didn't usually have that many people on board.
Henry got to thinking and so he called his insurance agent and the agent told him he should raise his liability coverage to one million dollars, just to be safe. This would protect the major investment Henry made in his yacht and he agreed with his insurance agent and increased the liability on his boating insurance policy.
The trip went well for the first 50 miles, and then they met some unexpected problems. A sudden waterspout appeared out of nowhere and this created a great deal of turbulence right around Henry's vessel. All the passengers scrambled in panic as the strong winds picked up the yacht and eventually capsized it. This caused injuries to the passengers and a huge environmental cleanup issue.
Fortunately, Henry insurance agent made sure he had sufficient coverage for yacht repairs, cleanup and medical expenses for all the passengers. In fact, the yacht is now as good as new and Henry is still enjoying the water.
Defining Boat Insurance
When you insure a boat you need to take all the risk factors into consideration. This insurance covers things which can happen on the water and on the land also.
Do All Boaters Need Insurance?
No matter what size boat you own, you should make sure your risks are covered. Even older vessels should have some kind of liability insurance. These vessels should be insured:
- Fishing boats
- Jet skis and other personal watercraft
- Pleasure boats
- Paddle boats
What Do I Get With a Basic Boating Insurance Policy?
Here is what you can expect with a standard policy offering full coverage:
- Hull insurance
- Boat contents - may include personal belongings, GPS gear, fishing gear, computers and other items.
- Liability insurance
- Medical payments
- Environmental cleanup fees - some boating accidents result in oil, gasoline, and other contaminants in the water.
- On the water towing
Boat Insurance Options
If you own a boat in the Tri State Area you may need to consider additional insurance. For example:
- Comprehensive - similar to auto insurance comprehensive
- Uninsured boater coverage - if another boater (without insurance) damages your vessel, your insurance company will pay. It also pays for underinsured boaters.
- Boat trailer insurance
- Roadside assistance - for your vehicle while towing your boat
- Replacement cost option - pays to replace your vessel instead of simply reimbursing you for the present assessed value.
- Additional boating liability coverage - important if you carry many passengers or have unusual risks.
Who Should I Insure My Boat With?
If you check with 10 insurance companies about boating insurance, all ten may tell you they have the best insurance options. The truth is, the best insurance for your boat will cover all your risks and also provide affordable premiums. So how do you find this kind of insurance? First, you have to know where to look and this is where Newbridge Coverage Corporation enters the picture. In fact, once you find the right insurance agency, your job is done, because they take care of all the rest.
Newbridge Coverage Corporation knows what it takes to insure your boat. Your agent talks to you about all your needs and then checks with our insurance partners. In addition, your independent agent is not limited to only one insurance company (like so many agents today). You have the benefit of several insurers and this gets you not only custom coverage, but premiums you can afford. After all, what good is superior insurance if you can't afford it?
Our agency has 60 years in the insurance industry and when you come to Newbridge Coverage Corporation you have insurance professionals you can trust. Because we are on Long Island, we are in a perfect position to handle marine market insurance issues. Why not find out just how affordable great coverage is today? Just click this link to receive a free quote on your insurance.