The state doesn’t require that you have boat insurance to register your boat, but it’s a good idea to have insurance to protect your investment. It’s best to get insurance before the boating seasons starts and to maintain it year long. Remember that the more boats that are out on the water, the more likely accidents are to happen.
A typical homeowner’s policy can cover liability for damage to property when the watercraft is shorter than 26 feet in length, or if it is powered by 25 horsepower or less. However, you won’t be fully covered unless you have a specialized boat policy. It may also only cover damage to your boat while at your property and not out on the water.
Hurricanes and windstorms, while not as common in New York, can still happen, so you want to make sure that your boat is protected from both Nor’easters and hurricanes. A separate windstorm deductible may be required if your boat is damaged by a hurricane. Ice and freezing damage can also be a concern for the northern part of the state, so make sure this type of damage is covered for your policy. Sometimes freezing and ice may not be included if the boat isn’t properly winterized. You may also get a credit for a boat that is being stored for the winter and has a long lay-up period. Also, check with your agent at The Wasiczko Agency to find out about any navigational limits. Some policies may restrict boating to rivers and inland lakes, while others can cover a wider area. Sailboat owners may get a break over motorboat owners. It’s important to know the difference between agreed value and market value policies so that if something happens to your boat, you know what the payment will be. Agreed value is when the insurer and insured agree on the value of the boat up front.
Contact The Wasiczko Agency to get a quote on New York boat insurance.