With a gross annual production rate of $332 billion a year and a median household income level above $50 thousand annually, New Jersey ranks 8th among the nation’s most affluent states. Much of this wealth is spent on watercrafts and other leisure accommodations for hardworking families to unwind in their spare time.
New Jersey has quite an extensive history of boating and ocean-faring. According to the U.S Bureau of Transportation Statistics there are roughly 243,000 boats and other watercraft licensed and registered in the state of New Jersey alone. Thanks to an abundance of coastal access, rivers systems, and numerous waterways New Jersey’s nautical culture continues to flourish. However, not all watercrafts are created equal.
Sailboats, speedboats, fishing boats, house boats, and other personal vessels all face functional and operational risks specific to the type of craft. For example, high-powered motorized vessels are far more likely to be involved in a fatal accident than a sail powered crafts, however sail boats can be more costly to repair. Furthermore a yacht has vastly different insurance needs than a small personal vessel. While standard Monmouth Boat Insurance can be customized to fit any small personal watercraft, large leisure crafts require specialized attention and may need a different type of Monmouth County Watercraft Insurance Policy.
A well designed Monmouth County Yacht Insurance policy can help protect your luxury watercraft. It is essential to specifically factor in everything from the length of your vessel to the number of your crew and the nature of your onboard contents when determining the proper amount of liability insurance and your medical payments limits. It is also important to inventory the furnishings, fine art, and other high-value personal items aboard your vessel to ensure they are properly protected as well. These factors are unnecessary and often uncovered in a standard small watercraft insurance policy.
Every vessel has particular Monmouth County Watercraft Insurance needs which is why Tri-State Insurance Agency offers fully customizable watercraft coverage under these two distinct categories. We also offer Personal Artifact coverage for additional property protection of your valuables, equipment and art. We invite you to call us toll-free at 888.990.0526 for a free consultation so we can help you attain the best Monmouth County watercraft insurance coverage throughout Pennsylvania, New Jersey and New York.