Boat owners in Westchester, NY, should contemplate the significance of insurance coverage for their watercraft. While New York state does not mandate boat insurance, our team at ASZ International Inc. can explain the advantages of boat coverage, particularly in scenarios where it is obligatory, as well as the potential drawbacks.
Drawbacks of Forgoing Boat Insurance in New York
Boat owners might question the necessity of boat insurance, given that it’s not a state requirement. This is a legitimate concern, but boating enthusiasts should consider the potential repercussions if their uninsured watercraft is involved in an accident with another boat or individual. Such incidents could expose you to a lawsuit that could have a significant impact on your financial stability.
Circumstances Requiring Boat Insurance
There are situations where boat insurance may be obligatory. Owners who have financed their purchase may need to have collision and comprehensive coverage. This ensures that the lender’s investment is safeguarded in the event of an accident.
If you plan to dock your boat at a marina, whether for a brief period or an extended stay, the marina may require proof of insurance.
Similarly, if your boat requires repairs at a boatyard, or if it’s where you store your boat when not in use, proof of insurance may be required.
Liability Insurance
To safeguard against potential accidents, boat owners may want to consider purchasing liability coverage. Our agents at ASZ International Inc. can explain why liability insurance is advisable, what it covers, and the suitable coverage amounts.
Reach Out to Our Team
Experience the waterways of Westchester, NY, with the assurance that you have insurance to cover unexpected situations. Contact our agents, and together, we can ensure both you and your boat are adequately protected.
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