Here at Anchor Insurance Agency LLP, providing residents in the greater Plymouth, MN area with boat insurance, one of the questions we frequently ask is how quickly you need to insure a boat after purchasing it. The answer to this question may surprise you, so read on.
How Quickly Do You Need to Insure a Boat After Purchasing It?
Many states require you to purchase boat insurance to register your boat. Minnesota is not one of these states. However, if you have a loan out for your boat, the lender will likely require you to insure the boat fully. In most cases, you will have to purchase this type of insurance before taking possession of the boat.
How Quickly Do You Have to Register a Boat After Purchasing It?
In Minnesota, you must register your boat within 30 days of purchasing a new boat or within 90 days of moving to Minnesota. Once again, Minnesota does not require you to carry boat insurance as a condition of registering or using your boat.
Why Should You Purchase Boat Insurance Even If It Is Not Required By Law?
While you are not legally required to have boat insurance to register or operate a boat in Minnesota, you should still obtain boat insurance for many reasons. Boat insurance helps to protect you in case you are involved in an accident with another boater. Boat insurance also helps to protect the investment you made in your boat.
If you want boat insurance in the greater Plymouth, MN area, the Anchor Insurance Agency LLP team would love the opportunity to help you find the best policy for your needs. Call or email us today to start the process of obtaining boat insurance before you take your boat out on the water this spring.