While it’s known as the "Garden State," New Jersey offers a lot of fun on the water too.
Boating can be both enjoyable and relaxing. However, not having the proper insurance can leave you anchored.
Creative Risk Management LLC can throw you a lifeline. Their trusted agents share six facts about boat insurance to help you find the perfect policy.
Boat insurance protects your watercraft.
As simple as it sounds, these policies are designed to shield all motorized watercraft against damage, loss, or an accident. This is achieved primarily through collision and comprehensive coverage.
But, it covers so much more too.
Boat insurance protects you, your guests, and other boaters as well. Bodily injury and property damage liability are just a couple of ways these policies secure you and your assets.
Boat insurance isn’t required in New Jersey.
Although it’s not mandated, boat insurance is advised. The risk doesn’t outweigh the security that boat insurance provides.
Homeowners’ policies aren’t enough coverage alone.
Some homeowner’s plans will extend to your boat. However, these are often limited and come with a cap on claims. Only boat-specific policies can offer full coverage.
Keep boat insurance all year long.
Accidents can happen even in storage. Although it seems like a good idea to cancel your boat insurance over the winter, problems could still arise. Theft, vandalism, and other natural disasters can leave you paying more money out of pocket if your policy lapses.
The cost of boat insurance can vary.
Just like watercraft themselves, pricing fluctuates for boat insurance too. A motor’s size, type, and age of the boat are all taken into account.
Call Creative Risk Management LLC
Don’t get stranded by having inadequate coverage. Creative Risk Management LLC will craft an individualized boat insurance policy to keep you afloat. Schedule an appointment today.
