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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. While this could definitely be the best part, there are important considerations you have to take to keep your investment secure and have peace of mind.

It is no secret that boats, yachts, jet skis and even classic boats have expensive maintenance and taking care of your property is our main goal. First of all, you should know that there are a lot of types of boat and marine insurance, so keep in mind that probably the insurance policy that you have now is not the one that fits all your needs.

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 case of a boating accident, including if you injure someone or damage someone else’s property with your boat. 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 you boat is a classic or a 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 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.

Now that you know more about the different types of boat / marine insurance, let’s find out some of the benefits of 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 document that proves a boat’s provenance 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.


Being Long Island a large boating community, and although boat insurance is not required in many states for pleasure boats, why take the risk?

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.

Also, as personal lines of insurance go from homeowners, auto, condo and boat/yacht, you can get a discount by having all your insurance policies together with 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.