A Quick Guide to Your Boat Insurance

If anyone deserves a fun boating season, it’s winter weary Central New Yorkers. Though owning a boat offers freedom and fun on the water, it also comes with risks. Boat insurance is essential for protecting your investment, ensuring peace of mind, and complying with certain regulations or marina requirements.

First and foremost, boat insurance helps protect your financial investment. Whether it’s due to a collision, storm damage, theft, or vandalism, a good insurance policy ensures you’re not left covering those costs out of pocket. Boats can be expensive to repair or replace. Even accidents that seem minor can lead to costly repairs, and insurance helps absorb that financial blow. All you would pay is your deductible.

Liability coverage is another crucial benefit of boat insurance. If you’re found at fault in an accident that causes injury to others or damage to their property, you could be sued or held responsible for medical bills, repair costs, or legal fees. Liability coverage can protect you from significant financial losses and legal stress.

Additionally, insurance often includes medical payments coverage, which helps cover injuries to you or your passengers regardless of fault. Some policies also offer towing and emergency assistance, which can be a lifesaver if you break down miles from shore.

Ultimately, boat insurance is about more than protection—it’s about peace of mind. It lets you focus on enjoying the water, knowing that you’re covered in case something goes wrong. Whether you’re sailing a small fishing boat or a luxury yacht, boat insurance is a smart, proactive choice that safeguards both your assets and your adventures.

Boat Insurance Coverages Made Easy

Here’s a quick breakdown of the main coverages offered by most boat insurance policies:

Boat Liability Coverage

• Bodily Injury Liability
  Covers medical expenses and legal costs if someone is injured due to your boating.
• Property Damage Liability
  Pays for damage to another person’s boat, dock, or other property.

Physical Damage Coverage

• Collision
  Covers damage to your boat if you hit another boat or object (like a dock or rock).
• Comprehensive
  Covers theft, vandalism, fire, storms, and other non-collision-related damages.

Medical Payments
Pays for medical bills if you or your passengers are injured in a boating accident—regardless of who is at fault.

Uninsured/Underinsured Boater
Helps cover your injuries or damages if the other boater doesn’t have insurance or enough of it.

Optional/Add-on Coverages

• On-Water Towing & Assistance
  Covers towing, jump-starts, fuel delivery, or other emergency services on the water.
• Personal Effects Coverage
  Protects personal items like fishing gear, electronics, and clothing on the boat.
• Trailer Coverage
  Covers the trailer used to transport your boat.
• Fishing Equipment Coverage
  Separate protection for expensive rods, tackle, and other gear.
• Agreed Value vs. Actual Cash Value
  You can choose to insure your boat based on an agreed value (replacement cost) or actual cash value (depreciated).
• Wreck Removal
  Pays to remove your sunken or damaged boat if legally required.
• Fuel Spill Liability

Scalzo, Zogby & Wittig has been providing boat insurance for its clients for over 35 years. Let us know what kind of boat you have or how you plan to use it—some coverages might be more important than others depending on your setup. We’ll answer all your questions and offer a competitive quote to get your boat insured today.

Until next time,

Your SZW Team

SZW Insurance is your Utica area Trusted Choice™ independent insurance agent. Call us for a quote on insurance for your home, car, business, or life at 315.792.0000. Or request a quote here.