Who needs boat insurance in New Jersey?

When you are in the Mt. Ephraim, NJ area, you are likely used to very warm summers that have long sunny days. While there are plenty of great things that you can do in this area on a day off in the summer, one of the best activities to enjoy would be to take a boat out onto a local waterway. Before buying a boat, it is very important that you consider your boat insurance needs. There are several situations when someone will need to get boat insurance here.

Those with Boat Loans Need Insurance

One situation when someone is going to need a boat insurance policy is when they need a loan to buy it. For those that own a boat and take out a boat loan, the lender will have boat insurance requirements that you need to meet. This coverage will help to protect the lender’s collateral and some banks may check to ensure that you retain coverage at all times.

Insurance Required by Many Marinas

When you want to use a marina in this area of New Jersey, there is a good chance that you will be required to carry boat insurance at all times. A boat insurance policy will include protection for your boat while also giving you liability protection. This ultimately ensures that you are able to pay for any damages that you could cause in an accident. Since it ultimately protects the marina and all other boat owners, having boat insurance is often required. 

Anyone with a boat in Mt. Ephraim, NJ should get boat insurance. The team at Marino Agency Inc. is a great resource when you are looking for a policy. If you call Marino Agency Inc. the team can provide the guidance and support needed to pick a policy that is right for you and your boat.