Boat/Watercraft Insurance in New York

When New York residents purchase new boats and watercraft, they do not always stop to consider all the particulars. In order to register a boat with the DMV in North Salem, NY, there is no insurance required. This often causes residents to make short-sighted decisions.

Once boating season rolls around, boat and watercraft insurance is an absolute must. Let's take a closer look at the reasons why:

Lender Requirements

While New York state law may not require the boater to obtain insurance for their investment, any lender is going to. In most instances, a boat owner is not going to be able to afford an upfront cash payment. A lender will want to make sure that their investment is being protected at all times. Marinas who allow a boat owner to dock their watercraft at their facility are always going to require proof of insurance as well.

Vandalism and Theft Protection

Boat and watercraft owners do not always stop to consider the dangers that exist outside of the water. For example, vandalism and theft protection are absolute musts. These types of occurrences take place all year round, even when the boating season has already come and gone. Boatyards may also be left without attendants, which makes this level of protection even more pivotal.

Homeowner's Insurance Is Insufficient

Some boat and watercraft owners in North Salem, NY make the mistake of assuming that their investment is protected under their homeowner's insurance policy. In reality, this coverage tends to be rather insufficient. Be sure to speak with the experts at Carminucci Agency to find out more about the gaps that often exist in these instances.

When it comes time to make a decision of this magnitude, you are going to want to lean on the assistance that Carminucci Agency's experienced agents are more than happy to provide. If you would like to receive a hassle-free quote with zero obligation, feel free to give us a call or stop by as soon as possible.