Boat Insurance You Can Count On

Did you know that you can pay wildly different boat insurance premiums for basically the same coverage in New York? Or that policies that each cost the same amount may have important differences? Either way, making the wrong choice could cost you a lot of money.

That’s not a worry for folk who turn to Aspen Insurance Agency for their Long Island boat insurance and yacht insurance.

That’s because our years of experience in the boat insurance marketplace and our contacts with several leading insurers mean we can tailor your policy precisely to your vessel, your priorities and your budget — and then secure a highly competitive deal others would find difficult to match.

Do I Need Boat Insurance?

It’s not a legal requirement in New York but 3 out of every 5 owners are insured. They understand the wisdom of being properly protected.

The bad news is that the other 2 in 5 who don’t have boat or yacht insurance may not be able to compensate you for any damage or injuries they cause to you or your vessel.

In most cases however, if you ARE insured, your policy will cover you against this awful risk.

What Does Boat Insurance Cover?

  • Your Boat: It protects you against physical damage for sudden and accidental damage, or if your vessel is destroyed by a covered peril such as fire, theft, windstorm, lightning or vandalism.
  • Liability: Provides protection if you damage someone else’s property, or injure someone other than yourself or a family member.
  • Medical Payments:  Covers medical, ambulance and hospital costs if someone is injured while in, aboard, boarding or de-boarding your vessel.
  • Uninsured Owner: Covers costs arising from an accident caused by an uninsured owner.
  • Towing: Covers towing and assistance costs if you break down and have to be towed to port.

Other coverage options include:

  • Fuel Spillage — This likely would be covered under your liability protection but may be subject to limitations.
  • Hurricane Haul-out — Protects you against some of the costs of having your boat hauled after a hurricane or tropical storm.
  • Salvage Charges — Extra coverage if salvage is not covered, or not adequately covered in your main boat insurance.
  • 6-Park Charter — Insurance for Uninspected Passenger Vessels (UPVs) carrying 6 or less passengers — typically smaller fishing or tour boats.

What Type of Boat Insurance Do I Need?

Your boat or yacht insurance protects you against all the risks we’ve outlined, though it likely will be subject to a deductible — the amount you pay out of your own pocket before the policy kicks in.

Policies have two different ways to pay in the event of a partial loss. One is to replace the damaged items new for old without deducting for depreciation. The second is to depreciate the damaged items.

In the event of a total loss, your policy may pay you based on the Agreed Value, Actual Cash Value or the Replacement Cost Value.

How Can I Save Money On My Boat Insurance?

Because we work with many leading insurers, we know where to get the best, most competitive deals for our clients — so they don’t have to do the shopping around.

We can often also get discounts for you, for example if you agree to a larger deductible.

We can also secure lower rates for seasonal lay-up, that is during the months your vessel is not in use. Read more

Furthermore, we keep track of changing rates in the insurance marketplace to ensure you’re always getting the best boat insurance.

Why Should I Use Aspen Insurance Agency?

We can give you 5 key reasons:

  • We have more than 20 years’ experience insuring people like you.
  • We use leading edge technology that enables us to pinpoint the best rates and coverage instantly.
  • We offer easy monthly payment plans.
  • We’re “local”; you’re not dealing with some anonymous person online.
  • Our customer service and support are second to none. You need help — you call us.

Additional Information

Before purchasing boat insurance this review will be very helpful so that you can make an informed decision. Boat insurance policies typically offer coverage on boats up to 26′ in overall length. Vessels greater than 26 feet, it’s generally considered a “yacht”, and therefore qualifies for yacht insurance. Read more.

Commercial Towing and Assistance

Typically boat insurance policies provide coverage for towing and emergency services. Some policies may automatically include the coverage while on others it may be optional. Read more.


Every boat insurance policy has exclusions. The excluded items vary from company to company but typically include loss caused by gradual deterioration, mold, insects, animals and marine life, wear and tear, and weathering. Some companies include coverage for damage caused by zebra mussels; others do not. Read more.

Fuel Spill – Pollution Coverage

While typically Pollution has always been covered under the liability section of boat insurance policies. Recently we have seen boat insurance companies providing a separate limit for Pollution/Fuel Spill coverage. Most companies do not make pollution/fuel spill coverage dependent on a covered loss, but some do. Read more.

Hurricane Haul-out Coverage

Hurricane Haul-out coverage reimburses some or all of the expense of having the boat hauled in the event of a hurricane, tropical storm or tropical depression. Read more.


Insurance companies will vary on how your motor is covered . Because of high probability of loss, damage to stern drives and outboards is one of the most difficult t topics of coverage faced by you and us as your insurance agent. Please refer to the partial loss section of your policy , review the items in the section that explain Replacement Cost and Depreciated Value. Read more.

Named Storm Deductibles

A Named Storm Deductible (NSD) is common today for vessels in areas vulnerable to hurricanes, tropical storms and tropical depressions. The NSD is higher than the normal hull deductible and will be applied if the boat is damaged due to a named storm. Read more.

Partial Losses

Most people think about a total loss when discussing insured value and how a boat insurance policy will pay. While important, the majority of claims are partial losses, not total losses. Depending on how your policy details, those details could cost you several thousand dollars above your deductible. Read more.

Salvage Charges

Salvage charges are amounts paid to protect the vessel against additional loss. This could be as easy as adding a barrier to a broken window or as difficult as a salvage company protecting the vessel if it is grounded. Read more.

Total Losses

In the event of a total loss, your boat insurance policy may pay you based on the Agreed Value, Actual Cash Value or the Replacement Cost Value. Here are the explanations of how these three policy forms are different, using a three-year-old boat, insured for $50,000 which was destroyed by fire. Read more.

What Is a Lay-up

Lay-up is the period of time that the vessel is not in use. lay-up is typically for boats in climates in the northern regions, therefore not in use in the winter months. Boat insurers offer discounted premiums for lay- up.

Why Wait?

Don’t waste your valuable time shopping around haggling for rates. We’re boating insurance specialists who can get the right coverage and handle the shopping for you.

We’ll make it painless and easy for you.

If your need is urgent, we can bind coverage for you instantly via email.

Contact us now for the answers to your questions and the solution to all your boat and yacht insurance needs.

We offer more than just a policy

See what we can do for you today