Boat Insurance requirements in New York

Boat Insurance requirements in New York

While boat insurance is not required in New York to register a boat with the DMV, it's a good idea to get insurance in place for your personal watercraft.

Caution:  Do you own a boat?

These are some valuable things you should know about boating in New York State

Boating season is just around the corner.  A large percentage of boat owners in New York State do not have the proper insurance coverage that would provide them financial protection and add to their peace of mind during this boating season. 

How much do I have to spend to protect my new asset?

Boat insurance is actually relatively inexpensive.  Do your research when purchasing your boat and you may be surprised at the amount of coverage you can get for a very affordable price.  And of course, knowing that you have insurance coverage will give you the peace of mind that will make your boating experience even more enjoyable. 

Protect your boat, protect yourself and protect your family

Just like any other vehicle, boats should be insured and that coverage is available in New York to protect you, your family and your boat against the consequences of an accident on the waterways.

 In New York you can purchase a Boat Insurance Policy with replacement cost value coverage for physical damage to your boat. Boats depreciate, same as a car would depreciate but by purchasing physical damage coverage on your boat, it can be replaced with a brand-new model or at least a model of the same cost that you paid.

Not having the proper or adequate boating insurance can lead to headaches and heartaches.  Think about protecting your investment and be ready when the season starts.  As the waters become crowded, accidents happen.  Our boating season is short in many parts of New York and we sometimes overlook the fact that many boaters are anxious to get out there quickly.  We see many accidents, small and large, and many unhappy boat owners that may not have the proper insurance to protect their important assets- their boats and most importantly, their families.

Think about all those happy boaters in our lakes and rivers in the beginning of the boating season. Stretch the season as long as possible by purchasing the coverage you will need to repair your boat quickly in the case of an unfortunate mishap.  Boating insurance is your first line of financial resources after an accident.

If you are involved in a boating accident with another watercraft, it is likely that someone will get injured (did you know that more than ½ of all boating accidents result in an injury?).  Even if you are careful and feel confident on the water, there is always the possibility that the “other guy” is not so experienced and may make bad decisions, causing an accident resulting in damage to your boat and/or injury to you, your family and friends.

MIXING ALCOHOL with boating can lead to serious consequences.  Even if you are an experienced and careful boater, you know that people do throw an occasional party with alcohol drinking that can make the waterways extremely hazardous. Boating insurance can protect you and your family against those possibly serious consequences. Just because you have experience and common sense, does not mean that others are in the “same boat” as you. Beware of what the other guy can do to your vehicle.

What other options are available in NY State?

Insurance can also cover the extras on your boat; some of these options may include:

  • Depth finding gear
  • Audio equipment
  • Video equipment
  • Water Skis
  • Anchors
  • Floatation devices
  • Finding gear

What if other boaters do not have insurance and you are involved in an accident with one of them?

This maybe the most important reason to purchase boat insurance- to be covered if others are underinsured.  Uninsured Boater Coverage pays for medical treatment, wage loss and other damages you would have received from the other person’s insurance company had they had boat insurance coverage. When the other person is at fault for an accident and does not have New York boat insurance, you can file a claim under your Personal Boaters Policy for damages the “at fault” boater is legally liable to pay,  but lacks the insurance coverage.

If you will be enjoying the New York waterways using a boat this season, it is important that you consider purchasing New York Boaters Insurance.

Protect yourself, your family and friends who will be enjoying your boat with you throughout the season. 

Be ready to enjoy the upcoming season.  And for peace of mind, purchase your New York Boaters Insurance Policy today!

By Craig Bruno