Is Boat Insurance Required?

Boats are a great recreational vehicle and can provide you with hours upon hours of great fun. That being said, they are also vehicles that need to be insured. Boat insurance per se is not something that has any standard requirement based on state law. Instead, you may have limitations or requirements based on where you intend to drive your boat and what your loan status is. For those in the Stony Point, NY area, the agents with Hudson Valley Insurance Brokerage, Inc. can help you to find the perfect boat coverage.

Boat Insurance Requirements

Boat coverage is something that is specific to the boat and often to the waterway or body of water that you intend to drive your boat. Some waterways like private lakes or lakes for profit where you have to pay to use your boat in it may require insurance to protect other boaters. Similarly, if you have a loan out on your boat, you may have to have insurance to help cover the cost of the vessel should something happen to it. This is so the lender can recover the money. Boats are fun, but without proper coverage, they can cause a great deal of stress.

Even if boat insurance is not required in your area, you may want to take out a policy to help protect your boat and to protect yourself in the case of a boating accident. You should take the time to speak with an insurance professional to see what type of policy you may need. For those in the Stony Point, NY area, the agents with Hudson Valley Insurance Brokerage, Inc. can help you find the policy that works best for you and your boating needs.