boat on water with wake

At Blue Lion Insurance Advisors, LLC, we provide our clients with numerous options regarding boat insurance. Because we are not affiliated with any particular insurance company, we are able to dedicate ourselves to serving your best interests. While Boat Insurance is not legally required In New Jersey, wise boat owners recognize the risks involved in not having a backup if they are faced with an accident, theft, or natural catastrophe. Calling our office will give you the protection you need at a cost you can afford.

The Costs of Not Having Boat Insurance

Boating accidents are not rare in New Jersey, nor is theft. Furthermore, our climate includes some very damaging weather. If you bet against the possibility that you will ever need the financial assistance provided by Boat Insurance, you are more than likely to lose. Also, if you have financed the purchase of your boat, the entity holding the lien may insist that you purchase Boat Insurance. 

As we all know, boats are expensive vehicles. Physical damage to your boat or someone else’s will undoubtedly be costly to repair. Replacing a boat or paying for personal injuries that occur during a boating accident may totally deplete your savings, especially if you are responding to a lawsuit.  Why worry about what may happen to spoil the joy and sense of freedom your boat brings to you and your family? Call Blue Lion Insurance Advisors, LLC at  (732) 649-1600 or contact us online to protect your loved ones, your property, and your assets.

Boat Registration Requirements in New Jersey

Although having Boat Insurance in the Garden State is not mandatory, you are required to register your boat if you plan to operate it for 180 days or more. You must also register it if you rent, lease, or maintain property on which it will be stored. In addition, any boat longer than 12 feet must be titled at a Motor Vehicle Commission (MVC) agency. Most pertinent to our discussion, your boat must be registered before you can purchase boating insurance.

What Boat Insurance Plans Cover

As with other types of insurance, Boat Insurance is packaged in policies that become more inclusive when you pay higher premiums.

Basic Boat Insurance can cover:

Physical damage resulting from collision, theft, fire, or bad weather to:

  • Your boat
  • Motor
  • Boat trailer
  • Boat equipment (anchors, oars, fuel tanks, life jackets, dinghies, tools, etc.)

Personal Liability for bodily harm that results from ownership, maintenance, or use of your boat, including medical costs minus your deductible and up to policy limits. 

If you have been sued by a party who suffered damage or injuries in an accident, your legal fees may also be covered.

Additional Coverage Blue Lion Insurance Advisors, LLC Can Offer You

In general, the most comprehensive Boat Insurance will provide you with the greatest peace of mind because it will cover you for collision with other watercraft or with random objects, for weather events, theft and fire, and for the possibility that your boat may capsize. 

Fortunately, there are quite a few options beyond the basics that our well-informed insurance advisors can offer you. Because we understand that everyone’s needs are different, we tune in carefully to make certain we know precisely what kind of Boat Insurance coverage will best suit your purposes. 

This will depend on what you will be using the boat for, how far you will be traveling, and who will accompany you. With our thorough knowledge of the Boat Insurance market, we can provide you a variety of choices to meet your particular needs, such as Boat Insurance that covers:

  • Water sports liability (e.g. for water-skiing, kneeboarding, or tubing)
  • Personal property on board, even if unrelated to boating gear
  • Reasonable repairs to protect your boat from further weather damage
  • Emergency service, especially vital for an emergency on the water, including towing and often emergency service to your motor and boat trailer as well
  • Wreck removal for expenses associated with raising, removing, or destroying your watercraft when it has suffered severe damage (New Jersey law requires this)
  • Guest passenger liability

Because different insurance providers do not package their policies identically, our savvy Boat Insurance Advisors will guide you toward insurers that cover as many of your requirements as possible for the lowest possible cost. Why not contact us now to begin researching which policy is best for you?

Won’t my Homeowner’s Insurance cover my boat?

Although Homeowner’s Insurance provides minimal coverage for watercraft, it is unlikely that this coverage will be sufficient for your purposes. For one thing, it usually covers only small boats, such as canoes and motorboats with little horsepower. For another, such coverage has a low cap and does not include personal liability at all. It also won’t cover add-ons like wreck removal, environmental damage, pollution, or salvage work.

The “Agreed Value” Option

While cars are insured according to their market value at the time of the accident, and depreciate as soon as they leave the showroom when insuring a boat you can choose to insure your purchase at its “agreed value.” This means that at the time it is destroyed, your insurer guarantees payment of its full “agreed value,” even if its market value has decreased. You will, however, still have to pay your deductible.

Common Exclusions on Boat Insurance Policies

Blue Lion Insurance Advisors LLC is a business with a firm foundation of integrity. We will always be transparent so that you understand the limitations of your Boat Insurance policy as well as its benefits. In this spirit, we want to mention two events excluded from boating policies: colliding with a submerged object and engine overheating that results from an accident.

Contact Blue Lion Insurance Advisors, LLC Today 

As pleasant and relaxing as boating is, it is best to prepare for the possibility that there may come a day when sailing is not as smooth as you had hoped. As with other kinds of insurance, you want to make sure that your Boat Insurance will provide a cushion to protect you and your family from financial disaster if you meet with misfortune. Keep your travels on the water free from worry and stress by contacting us today at (732) 649-1600 or online to get the Right Insurance Coverage, at the Right Price with Superior Client Service. That’s the heart of Blue Lion Strong™.