Watercraft, Yacht and Boat Insurance for the Hamptons

According to the United States Coast Guard, there were more than 4,200 boating accidents in 2017, leading to about $46 million in property damage. Boating season in the Hamptons is short, and when the weather gets nice, the waterways can get crowded.

Unfortunately, since this type of insurance coverage isn’t required by law, it’s too often overlooked or ignored. Boats are major purchases, and owners should consider insuring them just as they would their cars and trucks. Your home insurance may offer some watercraft coverage, but it’s typically very minimal.

What Does It Cover?

Boat insurance can protect you against several types of liabilities:

  • Property — Damage to your boat
  • Liability — Damage caused by your boat
  • Medical — Injuries suffered by people onboard on your boat
  • Towing and salvage
  • Fuel spill pollution

Specific coverage options and rates will vary based on the type of watercraft since they have different risk profiles. For example, yacht insurance is considered its own category due to the larger size, the longer travel distance and the higher price tag of a yacht compared to most boats.

This type of insurance does not cover normal wear and tear, damage from mold or damage caused by sea creatures.

AGA: Boat Insurance Specialists

If you decide to insure your boat or yacht, Amaden Gay Agencies will work with you one-on-one to find the best insurance package for your specific needs.

For more than 100 years, Amaden Gay Agencies has provided innovative waterfront insurance solutions and unparalleled service to high-net-worth clients in the Hamptons and beyond. Our private clients always receive the highest level of discrete attention and personalized service.

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