Boat Insurance For Winter: Is It Necessary?

What do you do with your boat during the winter months? Chances are, you store it somewhere. The question that arises with many boat owners is, “Do I need to keep up my boat insurance in winter?” The answer, in a nutshell, is this: Even during the off-season, maintaining your boat insurance isn’t a bad idea.

Sure, to save a few dollars, it’s tempting to let that insurance policy lapse during the off-season. But while your boat is in storage, it can still face risks. During the warmer months, vandalism, theft, and fire are possible. But truth be told, they can happen any time of year.

If some calamity befell your boat and you terminated the insurance policy for the off-season, paying for damage repairs would be your responsibility.

What About Homeowners Insurance?

Another reason why boat insurance is important even in the off-season is that a boat in storage may not be covered by homeowners insurance. A low-powered watercraft (small sailboat, canoe, small boat) may be covered by homeowners insurance, though it would be minimal in all probability.

You might want to ask about security measures regarding the company with whom you store your boat. For your watercraft and others, is any insurance provided by the facility?

Is Winter Coverage Required?

There is a possibility that, during the winter months, having an active insurance policy on your boat would be required. If you have financed your boat, for example, holding active coverage for it year-round may be required by your lender.

Off-Season Cost Cuts

During the off-season, you might be able to make coverage cost adjustments. For a time, as an example, you may decide that lowering your premiums makes sense. You could decide to drop some of your policy’s coverage types or reduce your limits in order to accomplish this. To see what’s available, talk to your agent and see, for your precise situation, what makes the most sense.

Once spring rolls around, however, your original policy should be reverted to. That way, you can begin the season with peace of mind when you pull your boat out of storage. Just in case the worst happens, you will know that you have coverage.

Where Is the Best Place to Get Boat Insurance – K&N Insurance Brokerage

Boat owners need an insurance provider that is reliable and reputable. Also referred to as “marine insurance”, boat insurance, in the event of damages or an accident, protects you financially. In many states, it isn’t mandatory to have boat insurance. However, your lender or the marina where you dock your boat may require that a policy be taken out by you. So you can protect others around you, your investment, and yourself, it’s a good idea to get insured, no matter what the case is.

Even if your homeowner’s policy does cover your boat, especially for larger, motorized boats, the coverage will likely be limited and inadequate. To protect your boat, choose from a wide range of coverage. You could be covered, depending on the policy, for mechanical breakdowns, hurricane haulouts, boat damages, injuries on the boat, and more. In an emergency, you don’t want to have to pay out-of-pocket. Get boat insurance!

We, at K&N Insurance Brokerage, can help you find boat, condo insurance, renters, automobile, homeowners insurance, and more. This protects you, your belongings, and your family against whatever may come along, regardless of the season.

Get an easy, quick, and free insurance quote online, or call us for an instant quote at 866-643-1567.