Here's what Colin Jost, Pete Davidson are calling the SI Ferry they bought

Decommissioned ferry boat purchased by Jost and Davidson earlier this year
Decommissioned ferry boat purchased by Jost and Davidson earlier this year Photo credit Bobby Bank/GC Images

NEW YORK (1010 WINS) — The decommissioned Staten Island Ferry boat purchased by "Saturday Night Live" stars Colin Jost and Pete Davidson has a new name.

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During an appearance on Late Night with Seth Meyers Friday night, Jost revealed the ferry was renamed “Titanic 2.”

“This is why idiots should not be allowed to do things,” Jost said. “Pete and I bought this boat, and like — there’s so many immediate decisions you have to make. You have to create a financial entity to deal with this boat. And so we’re on a call and I’m just like, ‘Alright, well how about Titanic 2?'”

Everyone on the call liked the name, Jost explained, but it has been giving them issues with insurers.

“We’re looking for insurance — which we have to buy because it’s a giant deathtrap boat,” Jost said. “And then every insurance company’s like, ‘It’s called Titanic 2?'”

The pair bought the boat in January during a city auction for $280,000 with hopes of turning it into an entertainment venue. Previously named John F. Kennedy, Jost went for a ride on the ferry in April while it was towed to the Caddell dry dock for inspection.

Featured Image Photo Credit: Bobby Bank/GC Images