How Can I Lower My Boat Insurance Rate In New York
Discounts vary by state, but in New York, you may be able to lower your insurance rate if:
- Multi-boat discount: You insure more than one watercraft on your Progressive boat policy.
- Safety course discount: You completed a New York-approved safety course.
- Multi-policy discount: You have another policy with Progressive. Bundling multiple policies can help you save on boat insurance.
- Original owner discount: You’re the original owner. If you’re the only one whose owned your vessel, you’re entitled to a discount.
See if you qualify for more boat insurance discounts.
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.
Find Cheap Homeowners Insurance Quotes In Your Area
Most states don’t require boaters to purchase insurance for their watercraft. However, many marinas do require some form of insurance if you wish to use a slip or mooring. Additionally, your bank will require insurance if you are financing the purchase of a boat. Even if these requirements don’t apply in your situation, it’s still generally a good idea to get boat insurance.
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Best For Additional Coverage Options: Foremost
Foremost
- No. of Policy Types: 3
- Coverage Limit: Varies
Foremost offers various boat insurance packages with unique add-ons including trip interruption services.
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Unique add ons like onboard pet coverage
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Trailer coverage
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Contact agent for specific coverage maximums
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Website could give more details
Foremost is a part of the Farmers Insurance Group of companies. It is a specialty insurance company that has been in business since 1952, and it’s known for providing affordable coverage for boat insurance in all 50 U.S. states. Foremost offers some unique coverage options for an additional premium, including hurricane haul-out, enhanced towing services, fishing tournament fee reimbursement, additional pollution liability coverage, pet coverage and trip interruption service.
There are several discounts available through Foremost that are designed to save you money on your premium. This includes a lay-up discount, paid-in-full discount, boating safety course, protective device discount, multi-policy discount, multi-unit discount, loss-free renewal discount, prior insurance, insured age , and affinity and alliance discounts for boat operators who are a part of an approved affinity group or alliance organization. Coverage is also available for classic boats over 25 years old.
Explore The Empire State
Will you be visiting a big city like New York City or Buffalo? Or a smaller NY town in the Hudson Valley or Adirondacks like Lake Placid? maybe you plan on visiting the Thousand Islands Seaway, Finger Lakes area or close-to-the-bustle Long Island. NY state has something for everybody! So make some plans, or dont plan anything and just go exploring! Whatever your style, just make sure you get on water and get yourself into a New York state of mind.
NEW YORK STATE PARKS
Everywhere you look in NY, theres a New York State Park sign and an opportunity to break away from the busy flow of the everyday to enjoy the great outdoors. There are over 215 state and national parks to choose from!
So which park should you choose? Any of the 20 state parks located on Long Island or the very popular Niagara Falls state parks region will all boast endless activities for visitors. However, you can also find quiet parks that offer trails and boat launch ramps for boaters, paddlers and hikers who prefer the simpler sound of the wind in the pines. Like Adirondack Park, which, although not technically a state park as its partially provately owed,this protected area covers 6 million acres in northern New York and contains over 3,000 lakes. Youre sure to find a quiet spot to launch your boat in there!
NEW YORK BEST BOATING LAKES
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Some Policies Allow A Coverage Pause
If you live in an area where you only boat in the spring and summer, you may be able to buy a policy that allows you to interrupt coverage when youre not using your boat. While this could save you some money, it also means you cant use your boat during this time. If anything happens, youll carry the burden since you wont have coverage.
Does New York Require A Jet Ski License
New York requires those 14 years old and older to pass a boating safety course if they intend to operate a jet ski. Children who are at least 10 years old that were born on or after May 1, 1996 who intend to operate another type of vessel unaccompanied must also pass a boating safety course.
Get certified in 3 easy steps:
Boater Education Requirements in New York
Anyone younger than 10 years of age must be accompanied on the vessel by someone at least 18 years of age who either has a current Boating Safety Certificate or who isnt required to have one. Children under 14 years of age are not legally allowed to operate a jet ski in New York. Those who are 14 years old or older can legally operate a jet ski in New York if they have completed and passed an approved boater safety course. If they havent passed the boater safety course, they are required to be accompanied on board by someone of at least 18 years of age who has a current Boating Safety Certificate.
To be eligible to take this online course you must be 10 years old or older, however you are not required to be a resident of the State of New York.
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The Type Of Policy Being Purchased
We recommend that you buy marine insurance designed to cover property and injury-related specifically to the boat.
However, your boat may be covered by different types of policies.
Here are 4 types of policies that may apply:
1) Homeowners Insurance
People who store their boat on their property may be able to use their homeowners insurance policy should the worst happen.
This is especially true if the boat is small and stored inside the house or the garage.
For example, a kayak stored in the basement of a persons house will be covered if the house burns down and the kayak is destroyed.
In fact, some homeowners insurance policies may protect the kayak even if it is chained up at the homes back dock. However, the same rule might not apply to a larger boat.
A homeowners insurance policy will often only cover up to $1,000.00. This means that if your $700.00 canoe is stolen, your insurance company may reimburse you.
However, it also means that if your $35,000.00 boat is stolen, youll only be reimbursed $1,000.00 for it.
For this reason, most people will get an additional insurance policy to help cover their boat.
On top of this, a homeowners insurance policy cannot cover a boat that is out on the water or out on the road. This means that a person will need to get another policy whenever they intend on using the boat.
Failure to do so will leave them out of luck should something happen.
2) Vehicle Insurance
Best Boat Insurance Providers Of 2021
- Best for Professional Fishermen:
- Best for Affordability: Allstate
- Best for Safe Boat Drivers: Progressive
- Best for Additional Coverage Options: Foremost
- Best for Policy Bundling: Nationwide
- Best for Individualized Customer Service: United Marine Underwriters
- Best for Emergency Services Coverage: State Farm
- Best for Additional Benefits: BoatUS
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Is It Mandatory To Have Insurance On A Boat
If youre wondering, Do you have to have insurance on a boat?, the simple answer is no. The majority of states do not require you to carry boat insurance. You may assume that you need it in cities surrounded by water. However, only a few states require proof of insurance.
The chart below lists each state and their boat insurance requirements.
Yes, just Arkansas, Hawaii, and Utah require you to have a boat insurance policy. But what about a license?
What Does Boat Insurance Typically Cover
Boat insurance coverage will depend on what type of boat you have, what insurance provider you use, and what coverage youre willing to pay for. General boat insurance typically covers physical damage to your boat, as long as none of the restrictions of the policy were violated, and liability coverage for damage to other property caused by you while operating your boat. You can add additional coverage types, such as medical payment for injuries you sustain while on the boat.
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Who Can Operate Your Boat
Most of the boat insurance policies will allow anyone you give permission to operate your boat.If you have a high-performance boat or personal watercraft, there may be exceptions to this so be sure to discuss this with a knowledgeable agent. To add more drivers to your policy may increase your premium.
How Much Does Boat Insurance Cost
According to the Insurance Information Institute, some homeowner insurance policies cover damage on small boats or watercraft with less than 25 mph horsepower.
Be careful, though, because coverage tends to be low sometimes only $1,000 or 10% of your homes value. Larger watercraft need to carry their own policies.
For example, Progressive starts their boat insurance at $100 a year depending on the value of the watercraft and additional coverage you need. They also offer discounts including:
- Safe boater: You have no violations or accidents recorded for the last three years.
- Pay in full: If you pay the entire year upfront.
- Original owner: If you have been the only owner on your boat.
- Homeowner policy: If you own a home, townhome, or condo .
- Multiple boats: You have more than one watercraft or boat to insure.
- Safety course: Completed a state-approved boating course.
- Multiple policyholders: If you insure a car, home, or anything else, you could receive a discount for bundling.
Some insurers place limitations and restrictions on the type of boats they will cover. Be sure to double check before moving forward with any policy or boat purchase.
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The Owners Credit History/insurance Score
The insurance company will do a soft credit history check.
This means that their inquiry will not show up on your credit, but they will know your history.
They will use this information to determine how much your premiums will be on your policy.
Any history you have with other insurance companies will also come into play.
New York Insurance Pre
After youve determined which licenses you need, you must now take your New York insurance pre-license education courses.
Most folks choose to take their insurance pre-license course online. These courses are created specifically to give you the skills you need to pass the test. The types of licenses you choose will determine which courses you take.
Each line of authority in New York varies in required pre-license education hours. This means that if you wish to get a Property and Casualty license, you must take ninety hours of pre-licensing, and for Life, Accident, and Health you must also take forty hours.
You will receive a certificate upon completion of the course. Keep this certificate, as you will need it when taking your exam.
Recommended Course
For required insurance pre-license courses and exam prep, StateRequirement recommends:Kaplan Education Company
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Facts About Jet Ski Licenses
Many people seem to be confused about the licensing requirements for a jet ski. Although a jet ski may not look like a boat, it is a type of watercraft and these are legally classified as boats. Therefore, jet skis are subject to the same laws as a 50-foot yacht!
In 2012, PWCs were involved in 19% of boating accidents, causing 770 fatalities. These tiny vessels are sharing the waterways with boats of all sizes and most are much larger. This is why it is so important that you know how to operate your jet ski safely and legally and why a PWC license is required in many states.
Over 40 states in the U.S. alone have established educational requirements that have to be met before you are allowed to operate a PWC or any recreational vessel on waters in that state.
Various law enforcement and boater safety agencies aggressively enforce these requirements to ensure that everyone out on the water can enjoy a safe experience.
You are required to follow the laws and regulations set forth in your states official boating license safety course. You also need to have your certificate of boater education with you when youre on board your vessel because an enforcement agent may ask to see it.
The course includes a lot of text on safety, live-action videos and animations to vividly show you how to operate a jet ski safely. It also covers the rules that boaters are supposed to follow on the waterways to keep everyone safe.
Yours and your passengers safety is at stake here!
What Does Boat Insurance Include
When you purchase boat insurance, standard insurance will typically cover the following:
- Bodily injury: If someone gets injured while on your boat, this will help cover legal and medical bills associated with the accident.
- Property damage: This coverage will protect you if you are at fault in an accident that caused damage to another boat or property.
- Collision: If youre in an accident, this will pay for the cost of repairing or replacing your boat. This coverage is usually optional however, a lender may require you to purchase it if youre leasing.
- Comprehensive: This coverage will pay for repair costs if your boat gets damaged from something other than a collision this includes floods, storms, fire, theft, and vandalism.
- Uninsured/underinsured motorists: If an uninsured or underinsured motorist causes damage to you or your boat, this coverage will help protect you.
- Medical payment coverage: If youre involved in an accident, this coverage will pay for the medical costs regardless of who is at fault. Some policies will even cover funeral expenses.
There are also additional options you can add to your coverage, such as:
Keep in mind your insurance should cover all operators.
Talk to your insurance provider and make sure you have all the appropriate options added to your plan for your specific situation and climate.
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What Does Boat Insurance Cover
Boat insurance can cover physical damages to your watercraft as well as any injuries or damages you cause to others while boating. Here are some common coverages available on a boat insurance policy:
- Liability: Pays for any damages or injuries you cause to others while boating, up to the limits of your policy.
- Physical damage coverage: Physical damage coverage includes both comprehensive and collision coverage, and includes coverage for damages from events outside of your control, such as weather, theft or fire. Coverage also extends to damages sustained in a collision with another watercraft or object, regardless of fault, including if your boat capsizes.
- Uninsured/underinsured boater : Pays for your injuries if you’re hit by a boater with little or no insurance.
If physical damage coverage is included on your policy, the hull, furnishings, fittings, and other components such as motors, anchors, fuel tanks, batteries, and onboard safety equipment are typically covered if damage occurs due to a covered incident. A standard boat insurance policy will also commonly cover fuel spills and wreckage removal if your boat sinks.
Learn more about boat insurance coverages including those you’ll only find at Progressive.
Best For Policy Bundling: Nationwide
Nationwide
- No. of Policy Types: 4
- Coverage Limit: Varies
Nationwide is a well-known insurance provider that offers several packages to choose from and offers bundling discounts.
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Multiple packages to choose from
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Towing coverage
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Need to enter zip code for policy details
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Contact for pricing
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Website could be more detailed
If you are already a Nationwide policyholder, then you may be eligible for the multi-policy discount offered through Nationwide Insurance, which gives you a discount for combining your home, boat, vehicle or life insurance policies. A few perks of this policy include optional towing and rental reimbursement coverage, as well as roadside assistance when you insure your boat trailer.
Several options are available for boat insurance with a variety of package options. You can get coverage for fishing equipment from $1,000 to $10,000, personal effects from $3,000 to $5,000 and towing coverage from $500 to $2,500. Other discounts include multi-boat, boater safety course, diesel fuel, paid-in-full discount, and a claims-free renewal discount that goes into effect for the policy renewal period if you have remained claims-free for the entire policy period. Nationwide also has a rewards program through a partnership with Plenti, which allows customers to earn points that can be applied as discounts at certain stores.
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