Unlike auto insurance, boat insurance is not required in New York, but it is always a good idea to protect such a valuable investment. With recreational boating seeing an unprecedented surge in interest in recent years, more boats, jet skis, and other watercraft are on the water than ever before. Consequently, boating accidents are increasing, and failing to have insurance can leave you on the hook for thousands of dollars in damages and serious legal repercussions.
Not only does boat insurance protect your watercraft from covered incidents like vandalism, theft, and storms, but also liability coverage is needed to ensure that you aren’t responsible for the medical bills or any other costs associated with being deemed at fault in an accident involving another boat or passenger. One of the most important coverages outside of liability coverage to ensure that you have on your boat insurance policy is uninsured and underinsured protection. What this means is that if another boat hits you or injures an occupant on your boat but doesn’t have boat insurance, any costs associated with repairing your watercraft or medical bills are covered up to your policy limits.
Although you do not need to insure your boat in New York, you must register it with the Department of Motor Vehicles. To qualify for registration, anyone planning to operate the boat must have received a boating safety certificate from an accredited course to qualify.
For more information on boat insurance or assistance in purchasing a policy, give the knowledgeable team at Access Legacy Insurance Group in Brooklyn, NY a call to learn more.
