It’s time to pull your boat out of the water. Maybe you have a trailer and bring your boat to a launching area whenever you want to go out on the lake or river. Perhaps you have a boat at the marina. Wherever you have your boat, fall is the time to begin planning to put it away for the winter.
When you put your boat away, do you have a tendency to cancel the insurance?
A lot of people do. If you’re one of them, you’re not alone, but there are numerous reasons why you should keep the insurance coverage going throughout the season.
You never know what tomorrow can bring.
This is an old adage that rings true each and every year. Just because you put your boat in dry dock, shrink-wrapped, and protected from the elements outside, that doesn’t mean it’s going to be protected from everything. You never know what the weather is going to do this winter. You don’t know about a potential fire that can break out at the storage facility or somebody’s mishap or mishandling of your boat.
If you get your boat ready for the spring season next year and notice a serious crack along the hull, you’ll have to try to prove where the damage came from and that may not be a challenge.
If you keep your boat in storage somewhere else or on your property, flooding, hail, ice damage, and a host of other factors, including theft, can put it at risk. If you allow the insurance to lapse because you assume nothing’s going to happen to it while it’s put away for the winter, you could be leaving yourself exposed.
It’s a good idea to keep the insurance up throughout winter. If you’re worried about the cost of your policy, talk to your broker and see how they may be able to help you save money each and every month on not just boat insurance, but other insurance policies.