New Jersey Boat Insurance

Find the Best Boat Insurance Rates & Companies in New Jersey

New Jersey has more than its share of boating opportunities. Whether fishing in the Atlantic Ocean or floating a canoe along the Delaware River, you can protect your vessel with a New Jersey boat insurance policy. No matter what kind of watercraft you own, you run the risk of collision, fire, theft, and litigation, but boat insurance can help reimburse you for these expenses and those related to other disasters.

Fortunately, a New Jersey independent insurance agent can help you get set up with the right boat insurance. They'll make sure your specific vessel is protected by the ideal policy. But first, here's a closer look at New Jersey boat insurance requirements and more.

Best Boat Insurance Companies in New Jersey

Boat insurance is available from many different carriers. But when you want to find the best boat insurance companies in New Jersey, you can start by checking out our list of recommendations. Begin your coverage journey by comparing policies from these outstanding carriers.

1. Progressive: This carrier offers boat insurance and many other types of personal and business insurance. Progressive also has a great AM Best rating for financial strength and offers 24/7/365 customer service.
2. Travelers: This carrier offers boat insurance and several other types of personal and business insurance. Travelers also has outstanding AM Best and Better Business Bureau (BBB) ratings and provides many discounts for boaters.
3. Foremost: This carrier offers boat insurance and many other types of personal insurance coverage. Foremost has excellent ratings from both AM Best and the BBB and offers 24/7 claims reporting.

An independent insurance agent in New Jersey can shop and compare policies and quotes from these top-rated boat insurance carriers and others in your area.

What Boat Insurance in New Jersey Can Cover

A boat insurance policy is usually made up of several types of coverage. In New Jersey, you should be able to choose from the following boat insurance coverage options:

• Boating liability insurance: This can pay for expenses related to lawsuits involving claims of third-party personal property damage or bodily injury caused by your boat.
• Equipment insurance: This endorsement covers destruction, loss, or damage to equipment kept on your boat, like fishing gear, GPS devices, and towables.
• Comprehensive insurance: Pays for damage to your boat due to a non-collision event such as a flood or theft. 
• Collision insurance: Pays for damage to your boat from a collision with another object, regardless of fault. 
• Medical payments insurance: This covers medical expenses for you and your passengers due to injuries sustained in a boating accident, regardless of fault.
• Uninsured/underinsured boaters insurance: This covers the costs of damage to your boat, medical expenses, etc., if you get into a collision with another boater who doesn't carry adequate coverage of their own.
• Fuel spill/wreckage cleanup coverage: This can cover wreckage and pollutant clean-ups if you're responsible for a boating accident.

Your New Jersey independent insurance agent can help you assemble your boat insurance policy in a way that makes the most sense for your unique preferences and needs.

Is Boat Insurance Required in New Jersey?

Though car insurance is often required in most states, boat insurance is different. Like many other states, New Jersey doesn't mandate boat insurance by law. However, you might need to have a policy if you plan to dock your boat at a marina in New Jersey, or your lender might require you to carry boat insurance if you've financed your boat.

Having boat insurance can provide important reimbursement for numerous disasters, such as collisions, vandalism, lawsuits, and more. Without boat insurance, you could have to absorb these costs on your own. That's why many boaters still opt to get a policy, even if it's not technically required. 

What Boat Insurance in New Jersey Will Not Cover

New Jersey boat insurance isn't designed to cover just anything. Like any other type of coverage, boat insurance comes with its own set of exclusions, like:

• Damage caused by mold or marine life
• Damage caused by faulty machinery
• Insect and animal infestations
• Damage to or theft of lifeboats, anchors, or other accessories (without policy endorsements) 
• Accidents, etc., caused by unnamed operators
• Normal wear and tear of the boat

Make sure to review your boat insurance policy's specific list of exclusions to ensure that you know exactly what is covered and what isn't.

Average Cost of Boat Insurance in New Jersey

The average cost of boat insurance in New Jersey is around $527 per year. Keep in mind, though, that the cost of boat insurance can vary based on the following:

• The type of boat insured, including its engine size, length, make, and model
• The amount and types of coverage in the policy
• Your personal driving record and insurance claims history
• Where your boat is stored while not in use
• Your policy's deductible

An independent insurance agent in New Jersey can help you find the most affordable boat insurance available near you.

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What Boat Insurance Discounts Are Available in New Jersey?

New Jersey offers a ton of different boat insurance discounts from various insurers. Though the specific discounts offered vary by carrier, you can often expect to find the following:

• Affiliation discounts: These discounts are usually offered to boaters belonging to various groups or organizations, such as AARP. 
• Boater safety course discounts: These discounts are usually available to boaters who complete approved boater safety courses.
• Loyalty discounts: These discounts are usually offered to boaters who remain with the same boat insurance carrier for a set number of years.
• Bundling discounts: These discounts are usually offered to boaters who bundle their boat insurance with another type of policy, such as home insurance, through the same carrier.
• Security discounts: These discounts are usually offered to boaters who protect their vessels against theft, etc., with security devices.
• Lay-up discounts: These discounts are usually available to boaters who use their boats only during summer.

A New Jersey independent insurance agent can apply any discounts you earn to your policy for you to help you save the most money possible on your boat insurance premiums.

Popular Questions about New Jersey Boat Insurance