If you own a car, you purchase auto insurance. If you buy a house, you purchase homeowners insurance. Business owners will buy a number of different types of business insurance. But, for some reason, boat owners often don’t purchase watercraft insurance in Nassau County NY to protect this investment.
One of the reasons why boat owners forgo this insurance is because it tends to be expensive. Watercraft insurance has to cover potential problems with flooding, weather damage, collision damage, theft and more. With other policies, some of the coverage needed for a boat would be offered as an option, but not a requirement. With watercraft insurance, it’s going to have to cover all of these things, which is why it’s more expensive.
However, Watercraft Insurance in Nassau County NY can be very beneficial. Truthfully, many people are prepared to cover the costs of any personal items on their boat in case of loss of theft, however, what if the boat itself were stolen? In this case, the insurance would cover the theft of the boat and all of the items on it at the time it was stolen.
Another thing to consider is if you take friends on your boat. Your insurance can cover the cost of injuries caused in relation to your boat. If someone trips or falls, or if you collide with another watercraft, your insurance will cover the liability associated with this.
One of the biggest benefits that people find, however, is when their insurance covers towing costs. A lot of boats get stranded on the open water. What’s more, it can cost several hundred dollars for a tow, and this is if you’re close to shore. If you’re a couple of miles out, it can cost a thousand or more dollars. Your insurance can cover the cost of towing and save you a lot of money each year.
A boat is a big investment. While boat insurance isn’t a legal requirement, you might want to purchase some anyway. It can offer you several layers of protection against theft, loss, breakdowns or collisions. If you’re still not sure, or if you’re ready to make a purchase, visit Ginsbergagency.com and see what they have to offer for the different types of insurance coverage that you need.