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Media Advisory: Triple-I Has Insurance Resources For New York Boat Show

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For immediate release
New York Press Office: (212) 346-5500; media@iii.org  

NEW YORK, January 24, 2020 — Reporters covering this weekend’s Progressive Insurance New York Boat Show and seeking insights on how to insure recreational watercraft can contact the Insurance Information Institute (Triple-I).

Boat insurance policies provide coverage to repair a policyholder’s boat if the vessel is damaged or destroyed due to a collision, striking a submerged object, fire, theft, vandalism, windstorm, or lightning.

Other boat insurance coverages include:

  • Damage caused to someone else’s property
  • Medical payments, for injuries to the boat owner and other passengers
  • Bodily injury, for injuries caused to another person
  • Guest passenger liability—legal expenses incurred by someone using the boat with the owner’s permission
  • Hurricane haul-out provisions to keep the boat out of harm’s way
  • Full salvage coverage—includes wreck removal
  • Consequential damage coverage for major events, such as a sinking
  • Fuel spill liability protection for cleanup or third-party property damage caused by a boat’s accidental discharge
  • Personal effects coverage for expensive equipment, such as watersports toys or fishing gear
  • Ice and freeze coverage for damage to a boat’s engine and water systems

Boat insurers price their policies based largely on the boat owner’s experience and background, and the boat’s make, model, age, market value and cruising area.

The Progressive Insurance New York Boat Show concludes on Sunday, Jan. 26, at the Jacob K. Javits Convention Center, 655 West 34th Street, New York, NY 10001.

RELATED LINKS

Article: Boat Insurance

The I.I.I. has a full library of educational videos on its YouTube Channel. Information about I.I.I. mobile apps can be found here.

THE I.I.I. IS A NONPROFIT, COMMUNICATIONS ORGANIZATION SUPPORTED BY THE INSURANCE INDUSTRY.

Insurance Information Institute, 110 William Street, New York, NY 10038; (212) 346-5500; www.iii.org

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