There is no better way to spend an afternoon during the hot summer days than on a boat. For those that are in the Bethlehem, PA area, owning a boat is a big investment and responsibility. Because of this, boat owners need to consider carrying boat insurance. There are several situations in which having boat insurance is a requirement for owners in the area.
Loan on the Boat
One situation in which you will need to have insurance on your boat is if you use a loan to purchase the boat. When you buy a boat with a loan, the lender will have a lien on the boat at all times. Because of this, they will likely require that you carry a full boat insurance policy as long as the loan is outstanding. This will ensure that they can be repaid if the boat is damaged or stolen.
In general, the state of Pennsylvania does not require that you carry boat Insurance. However, there are local areas throughout the state that do require that you have boat insurance if you are in certain areas. For example, if you are in a larger lake area with a local marina, you may be required by the lake association to carry boat liability insurance whenever you are on the water. This will provide liability coverage for you in the event of an accident.
If you own a boat in the Bethlehem, PA area, you should reach out to the Saucon Insurance Agency. When you meet with the Saucon Insurance Agency, you can receive more guidance into what your boat insurance requirements are. They will also be able to review your requirements and particular situation to ensure you get a boat policy that provides you with good coverage and also stays in compliance with all regulations.