New Jersey Boat Insurance

Your Guide to New Jersey Boat Insurance

How to find a local independent agent

New Jersey Boat Insurance

New Jersey has had 53 federally declared disasters since 1953. When you own a boat or any property, a major loss could have a significant impact. Proper boat insurance protection is needed to cover any loss that may arise.

Fortunately, an independent insurance agent can help. They have several carrier options, giving you the best rates and coverage. Connect with a local expert to get started on competitive quotes.

How Much Is Boat Insurance?

Like any other insurance policy you have, boat insurance prices will vary. Numerous risk factors determine the cost. Carriers will look at several items when rating your policy. Check out a few key things companies will use.

  • The value of your boat
  • The coverage you select
  • Your motor vehicle records (MVRs)
  • Your boating experience
  • The number of claims you've incurred
  • The drivers on the policy

While it's impossible to know your exact pricing off hand, you can be aware of how it's figured. The best way to get costs is to obtain multiple quotes. The average boat insurance cost in New Jersey is $348. Not all boat policies are created equal, so be sure your coverage is sufficient.

Do You Have to Have Insurance on a Boat?

While car insurance is a requirement in the state of New Jersey, boat insurance is not. That means you're even more at risk out on the water. There could be a sea of uninsured sailors that could cause some real damage. 

If you have your own boat policy, you can have protection against the negligence of others. If you get into an accident with an uninsured boater, your policy will pick up your loss when you have uninsured watercraft coverage. Though boat insurance isn't mandatory, it's still necessary.

What Does Boat Insurance Cover?

Your New Jersey boat insurance will provide protection for several risks. From property to liability, your boat policy can have you pretty well insured. Take a look at how coverages could apply.

Boat liability coverage: Pays for bodily injury or property damage.

Boat medical payments coverage: This pays for the medical expenses of you or your passengers that are injured after an accident on your boat. 

Uninsured watercraft coverage: This pays for your injuries or losses sustained after a collision with an uninsured at-fault driver.

Other items that can be covered under a boat policy


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Can I Insure a Boat I Don't Own?

In New Jersey, the rule of thumb is you can't insure something you don't own. However, there are some exceptions to the rule. Check out this story for reference.

Let's say a family member gives you their old boat because they bought a new one. They did not want to go through the hassle of retitling the boat and just said you could have it. If the boat gets into an accident and you are the policyholder, but the title is in your family member's name, you could have a big problem. 

However, if you list the family member on your boat policy as insurable interest, then you should be in the clear. If a claim occurs, the family member will get the check.

Keep in mind that not all carriers will allow this scenario. It would be wise to check before taking out boat insurance. An underwriter can usually give a quick answer. 

Is a Boat Covered under Homeowners Insurance?

Your homeowners insurance policy is almost exclusively for your home and personal property. Your boat and most all motorized vehicles will not be allowed under your home policy form. There are some exceptions to this rule. 

For instance, if you use a motorized vehicle to maintain your property. This can be included under your homeowners policy. A golf cart or ATV is an excellent example of a motorized vehicle that could be used to maintain your home. 

Do I Need Insurance on My Boat Trailer?

Your New Jersey boat policy will have a section to add any trailers associated with each boat you insure. You will need the serial number, make, model, length, and value of each. Some policies may require a trailer to be covered to offer insurance on the boat, though not always the case.

How to Buy Boat Insurance

If you're looking to get your boat out on the water, you'll want to start with the right policy. In New Jersey, boat insurance may not be mandatory, but it's necessary. To ensure you're obtaining adequate protection, consult with a professional. 

An independent insurance agent can help with coverage. They have multiple markets that they work with, giving you options. Connect with a local expert in minutes on

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