What Information Do You Need From A Watercraft Insurance Agency In Nassau County NY?

New York boat owners need adequate coverage for their property. Since these vessels are motorized, they fall under a category similar to automobiles. This indicates that they are required by law to purchase and maintain insurance coverage. A watercraft insurance agency in Nassau County NY, could help these boat owners acquire the right policies to protect these investments.

What to Expect From Coverage

A basic watercraft policy pays for any injuries that occur due to a boating accident. The policies provide a payout based on the total number of victims involved in the accident. The severity of the victim’s injuries also plays a role in the total value paid out.

These policies also provide coverage for property damage that occurs during an accident. This includes the vessel itself, other boats involved, or property surrounding the water that become damaged. The boat owner should acquire estimates for these repairs.

Coverage for Natural Disasters

The boat is covered in the event it becomes damaged during a storm or natural disaster. This includes falling debris that could collide with the boat. If the boat is in storage on the owner’s property, it is covered during this policy. Their homeowner’s insurance policy won’t provide adequate coverage for watercraft in most cases. A watercraft insurance agency in Nassau County NY, provides adequate coverage through boat policies.

How is Market Value and Agreed Value Different?

The market value reflects the value required to replace the watercraft. It is the price needed to buy a new or equally-valued boat. If the policy provides this value, the owner could acquire a replacement boat if it becomes destroyed.

The agreed value is the value the owner will accept instead of another boat. If the owner is involved in an accident, they could accept this value from the responsible party. In this case, the responsible party gives the owner the identified value.

New York watercraft owners need insurance. The coverage protects their investment by paying for vital repairs after an accident. It could also protect the owner against certain liabilities. These policies provide more coverage than homeowner’s policies for these items. Consumers who need boat insurance should contact Ginsberg Agency to acquire coverage today.


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