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Boat Insurance 101

Boat Insurance 101

When you buy a boat, yacht, jet ski, you can’t help but think of all the fun you’re going to have on the water. There are important considerations you have to take to keep your investment secure and have peace of mind

Here are the most common types of Boat/Yacht and Marine Insurance:

Boat Insurance:
Boat insurance protects your boat just as auto insurance protects your car. A boat insurance policy may cover you and your boat or personal watercraft against liability and damage in the case of a boating accident. In addition, Boat Insurance can also cover your motorboat, sailboat, or other types of watercraft in the event it is stolen.

Towing and Assistance Coverage:
With this coverage you can transport your boat/yacht to a repair facility when it’s inoperable and you’re stranded. Other emergency services such as gas delivery for boats and roadside aid are granted with this policy.

Agreed Value:
Whether your boat is a classic or brand new, the Agreed Value Policy guarantees you the value of your property up front. This means that your investment will face no depreciation and you won’t pay any deductible in the event of a total loss.

Yacht Insurance:
The first thing to know about Yacht Insurance is that it is not the same as Boat Insurance. A yacht is typically classified as a vessel that is 27’ or larger. Yacht Insurance includes coverage for damage to a structure or another boat in the case of a collision, damage to personal property, and liability coverage if there are any bodily injuries or damage to property of others.

Personal Watercraft Insurance:
This type of insurance is a great option for anyone that runs boats/yachts on the water. Personal Watercraft Insurance will protect your watercraft against accidents, vandalism and liability.

 Marine Insurance:

  1. Your property is secured by any of the insurance options we offer. In the event of a total loss, your investment will be safe.
  2. Some insurance policies include flexible navigation and unlimited overland transportation within the U.S. and Canada.
  3. Other coverages such as boat spare parts and specialty tools, important documents, like original shipping orders or purchase documents, can be added to your policy.
  4. Boat Insurance gaps such as: mechanical breakdown coverage, salvage coverage and wreck removal can be granted in your policy.


Boating Insurance:

Boat Insurance is relatively inexpensive and can be customized to suit your needs and budget. There is a common misconception that boats are covered under Homeowners’ policies. While smaller boats (under a certain size or value) on your property may be covered, larger boats require a specific Boat Insurance policy.

Keep in mind, if you have other insurance coverages with Colstan, you can get a discount by bundling all your insurance policies together using our bundling options. We work with the best insurance companies in Long Island and other states, to make sure we’re getting the best deal for you with customized coverage.

Our commitment is to give you peace of mind with affordable coverage that fits your needs, whether it’s a classic or brand new boat. Get a FREE price quote now by reaching us at 631-266-2800.