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What You Need to Know About Westchester County Yacht Insurance

What You Need to Know About Westchester County Yacht InsuranceWhat You Need to Know About Westchester County Yacht Insurance

While it may still be a crisp 40 degrees here in Mamaroneck, nonetheless it’s spring! With the promise of warmer weather, it’s time to start thinking about your sunny vacation plans.

Boat sales have risen ten percent this year, in the first significant boost since the recession, and yachts are a large part of that picture. But owning a yacht also exposes you to some unique exposures. Here are some tips to watch out for to make sure you have the proper coverage for your vessel.

Consequential damage. This applies when a yacht is disabled due to engine failure and suffers resulting hull damage. Although it is covered in most policies as a result of a storm or other event, it may not be if it is a “consequence” of mechanical failure.

Parts Depreciation. As your boat ages, the parts can lose value, and most insurers will cover only the depreciated value of the part, not the full cost of replacing it.

Navigation zone restrictions. Where you are, or where you plan on boating could affect your policy. Many policies are written based on navigation zones. They may be as narrow as the Florida Keys. And it may mean that a boater insured for the Bay Area in California may not be covered for damage that occurs in Mexico’s Pacific coast. So, as a boater, it is wise to check out any geographic limitations ahead of time.

Experience. Of course, as a boat owner, experience always matters. Where you travel, how many years you’ve been boating for, and your type of boat can all affect your Westchester County Yacht Insurance policy.

Whether you are docked in the marina at Stamford, garaged at your house in Rye, or cruising the Long Island Sound, your boat needs its own special type of insurance. A.J. Benet, Inc. knows that not all boat owners and their requirements are the same. Our staff strives to learn your particular habits and help you find insurance that addresses your personal risks. Contact us today for more information about our Westchester County Yacht Insurance coverage.

Source: P&C 360

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