Category: Boat/Watercraft Insurance

Ensuring the Adequate Protection of Your Watercraft Possessions

Items stored on your watercraft can be damaged in accidents or due to natural weather events. Here are some key points to make sure your insurance policy satisfactorily covers your belongings.

Understanding the Scope of Boating Insurance

Boating insurance is designed to offer independent and commercial boat owners the required protection level. Boating insurance covers incidents such as theft or vandalism, providing replacement or repair. Additionally, the coverage ensures liability protection. The insurance will cover repair costs if your insured boat is involved in an accident.

Assessing the Condition of Your Possessions

Begin by evaluating the loose content stored on your boat. Draft a list featuring the identified items along with their monetary value. While it might be tempting to insure all the items on your list, it’s also crucial to implement protective measures to avoid having to file an insurance claim. Consider the use of waterproof covers and locked boxes to maintain the good condition of loose items.

Checking Structural Materials

Afterward, examine the materials your boat is built from. Regular maintenance of these materials can keep your watercraft in top shape.

Inspecting Electrical Components

Review the electrical components onboard. Such materials should be stored in a safe area, away from exposure to harsh elements. Pen down all significant materials that you would like to be covered by your insurance policy, including navigational equipment, lighting, and other valuable items.

Connect With Creative Risk Management LLC

Contact an agent of Creative Risk Management LLC to guide you in preparing your boating insurance documents. Serving New Jersey, we are ready to assist you.

Boats can offer a great way to spend time with family and friends. Yet if folks don’t take the proper precautions, a fun day on the lake, river, or ocean could turn into a tragedy. By taking the right steps, such as having the necessary safety equipment on hand and a good boat insurance policy, it’s possible to mitigate many risks. Contact Creative Risk Management LLC, serving New Jersey residents, to discuss boat insurance policy options.

Boat Safety Tips for Every Family

Personal Floatation Devices Are a Must

It happens every year: folks head out on a boat, skipping life jackets, thinking that such precautions are unnecessary. Then tragedy strikes and people desperately in need of a lifejacket or other device find that they’re in short supply. Make sure you have floatation devices for every passenger.

Have Waterproof Communication Devices on Hand

Smartphones may work on water, but with many models, if they get wet, they’re ruined. Further, depending on where you’re at, reception may be poor, and GPS might not work. It’s possible and wise to buy emergency communication devices that can work far from cell towers and that are waterproof.

Make Sure You Have Boat Insurance

In the event that someone is hurt, they may have to seek medical care. The right boat insurance policies can help cover some of the medical costs. Boat insurance may also pay for damage to boats and other vehicles, although obviously, health is the most important aspect.

Boat insurance may also provide assistance and coverage if a boat owner should face civil litigation over an incident with their boat. This can help protect families not just today but well into the future. Boat insurance plans can help in other ways, so it’s wise to speak with an insurance agent about policy options.

Reach Out To Us

Get in touch with Creative Risk Management LLC, serving New Jersey, to discuss boating insurance policies.

Boat insurance is important if you enjoy boating and own a watercraft in New Jersey. Creative Risk Management LLC can come to your assistance when you’re meeting your boat insurance needs.

Your boat insurance policy can save you from a lot of problems as a boat owner.

Here are four problems you can avoid by choosing the right boat insurance policy:

Having to pay out of pocket for boating accident expenses

Boating accidents can result in expenses due to medical bills, property damage, and more. With boat insurance, you can avoid having to pay out of pocket for these expenses. 

Losing all the money you’ve invested in your boat

A boat is a valuable possession. If you own a boat, you have had to invest a considerable sum of money to purchase it. When you have collision coverage on your boat insurance policy, your insurance provider will pay for damage to your boat in many accident situations. This protects the funds you’ve used to buy your boat. 

Being stressed out when you’re boating

Boaters may find it stressful to enjoy using their boat when they’re not covered by insurance. Fortunately, carrying boat insurance can give you peace of mind so that you’re not worried about financial problems as a boat owner. 

Paying high costs to have your boat towed after an accident

Many boating insurance policies include coverage for towing expenses. A boat accident could make it so that you need to have your damaged boat towed. Carrying boat insurance can save you from having to pay high costs for towing. 

Contact Us Today

Do you have questions about boat insurance in New Jersey? We can answer your questions and provide you with a quote on a policy at Creative Risk Management LLC. Get in touch with us to learn more. 

The team here at Creative Risk Management LLC is proud to serve the insurance needs of residents in the great state of New Jersey. We are here to protect all of your possessions, including your boat!

What boat owners need to know about insurance

Boat insurance can be confusing as there aren’t always a lot of hard and fast rules and regulations addressing this situation. If you are wondering if you have the level of protection you and your boat need, it only makes sense to take a closer look.

Many owners find that liability coverage is the most important part of their insurance policy coverage when it comes to boat insurance. This is because it can potentially be the most financially impactful. Also, if your liability damages exceed the protection levels provided by your boat policy coverage, you can be financially responsible for any excess damages.

Finding a boat insurance policy that meets all of your needs doesn’t need to be an impossible task. Working with a local agent can make the decision and selection process easier. Having someone who understands your needs and tolerance for risk can make a very positive difference in the whole insurance selection process.

Give us a call today and find out more!

Creative Risk Management LLC is here to help the residents of New Jersey with all of their insurance needs. If you wonder if your boat insurance policy provides the protection you need, we can help. Give us a call or stop by our office today. We are here to help!

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.

When you want to play, you have to pay, which is why you went ahead and purchased a boat. Boats don’t come cheap. As a matter of fact, some cost as much as your vehicle. That said, protecting your boat against potential mishaps should always be in the back of your mind. But how can you protect your boat? 

One way is to obtain watercraft insurance from Creative Risk Management LLC, serving New Jersey and the surrounding areas. This way, you, your passengers, and your boat will be covered, as shown below.

Bodily injury

Assume you are involved in a boating accident, and you injure a fellow boater or a swimmer. You can imagine the medical costs involved if it’s a severe accident. Fortunately, with boat insurance, medical expenses arising from boating accidents are covered regardless of who is at fault.

Property damage

Similarly, if you cause third-party damage during a boating accident, and you are at fault, your insurance covers for damages up to your policy limit. Additionally, if you are sued for negligence, boat insurance pays for legal costs.

Theft, fire, and some natural perils

Your comprehensive boat insurance protects against damage or loss to your boat. Suppose there is a fire outbreak in your boat. It can be devastating watching your precious investment going up in smoke. Fortunately, boat insurance can compensate for damages to your boat up to the policy limit.

Emergency assistance

When your boat is disabled in the water, boat insurance with an emergency assistance add-on can come to your rescue by providing the services below, depending on your policy.

• Gas delivery
• Battery loan
• On-water towing
• Minor mechanical repairs

Does boat insurance cover boats only? This is one of the questions often asked by our clients. And the simple answer is no. Boat /watercraft insurance covers several water vessels. Some include:

• Jest Ski
• Yacht
• High-performance boats
• Fishing boats
• Sailboats

Boat insurance has been made easy by Creative Risk Management LLC, situated in New Jersey. If you want to purchase one or renew, contact our team, and we shall provide you with the right boat insurance coverage.