Find the Best Boat Insurance

In New Jersey

Facts about Boat Insurance in New Jersey

When deciding whether to invest in boat insurance in New Jersey, consider the potential expenses you would incur if your boat were involved in an accident. After all, with over 180,000 recreational boats registered in the state, you will most likely be sharing the water with other, sometimes inexperienced, boaters. While boater safety courses and careful navigation reduce your risk, there is no way to control the actions of others. Plus, thieves, storms, equipment failure, and engine fires pose additional hazards. 

Depending on the plan you choose, New Jersey boat insurance can offer affordable financial protection in the event your boat is stolen, damaged or destroyed, as well as offsetting legal fees, medical costs and property damage claims. Consult with an independent agent about your coverage options and N.J.’s boat insurance requirements, which differ for recreational and commercial watercraft.

All boats and power vessels must be registered for use in N.J. To register your boat, you will need:

  • Proof of ownership, Social Security card, and identification
  • Completed BA51 form (available at your motor vehicle agency)
  • Pay a fee based on vessel type and size

Visit a New Jersey motor vehicle commission for additional information.

Do You Need Boat Insurance in New Jersey

Although boat insurance is not legally required in New Jersey, boaters are encouraged to consider these questions when deciding if you need boat insurance, and how much coverage you may want to buy.

  • Can you afford to replace your boat if it is lost due to theft, fire, or accident?
  • Do you have the financial resources to pay medical expenses associated with an accident?
  • If you are sued for injury or property damaged, can you afford to pay the legal fees and possible judgments?

Additionally, if your boat is used for business, you may need charter boat insurance or commercial fishing insurance to comply with state laws. This is where talking with a Trusted Choice independent insurance agent can help. They will guide you to the right coverage for your unique needs. 

New Jersey Recreational Boat Accident Statistics

In 2018, the U.S. Department of Homeland Security and the U.S. Coast Guard reported recreational boat accidents in New Jersey caused the following (this includes damages greater than $2000 per incident; under $2000 is not considered reportable):

  • Deaths - 5
  • Injuries - 65
  • Damages - $162,999

Boat Insurance Coverage Types

  1. Liability Insurance: Pays for some bodily injury and property damage costs.
  2. Collision Coverage: Covers repairs after a collision.
  3. Comprehensive Coverage: Coverage in the event your boat is stolen or receives non-collision damage (i.e. - a severe storm or hauling mishap).
  4. Medical Payments Coverage: Pays hospitalizations and medical treatments.
  5. Towing and Wreckage Removal: Covers costs if your boat is disabled.
  6. Pollution Clean-Up: Pays your legal responsibility to remove a fuel spill.


Top Insurance Companies That Support Independent Agents in New Jersey 

There are currently 485 independent insurance agents in New Jersey who are ready to help. These agents can save you time and money by helping you find competitively priced coverage that is well-suited to meet your business’s specific coverage needs. Talk to an insurance agent near you to learn more and to start comparing customized business insurance quotes.

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