1610 The Fairway, Suite 109
Jenkintown, PA 19046
In Pennsylvania, you are not mandated by the state to carry insurance on a boat, however, if you are financing a new boat, your lender will require you to carry boat insurance to protect their asset until you pay it off. In addition, some marinas and docks will require you to carry some boat insurance in order to use their facilities.
Many types of insurance for boats are very similar to cars on the roadways, except it's for boats on the waterways. However, your boat is a specialized item and it operates on water, so it also has other types of insurance that are different from auto insurance.
You should purchase collision insurance for your boat in order to pay for repairs to your boat or a replacement it in the case of an accident. You should also consider comprehensive insurance to cover weather-related damages, vandalism or theft. Comprehensive and collision are usually collectively called hull insurance by agents. Additional coverages include bodily injury and property damage liability insurance to pay out to the other party in the case of a boat accident and you are deemed at fault. It will pay for the other party's injuries and property damages caused by an accident. Boats can be very expensive and if you don't have insurance to cover losses of another boater, you may have to sell some of your assets in order to pay their bills, which can be devastating.
You may cover specialty items on your boat in Pennsylvania, such as salvage costs to remove your boat after an accident from the water as well as oil spill cleanup. You should consider roadside assistance to help you in the case of an accident while you are towing your boat on the road and it incurs damages of any type. This type of policy will also do water rescues in case your engine fails while on the water. You can also purchase insurance to cover your expensive fishing gear, boating gear such as skis and personal items on the boat.
It can be hard to determine which types of boat insurance you truly need and how much to purchase. At Richard Zeises Agency, we understand and we are here to help you navigate the waters of boat insurance. You can call us or come by the office in Jenkintown, PA. to speak to a knowledgeable agent for all your boat insurance needs.