Although it’s optional, year-round boat insurance is highly recommended to protect you from risk in the winter off-season.
Treat Your Boat Like Any Other Major Asset
It’s tempting to want to cancel your boat insurance when you’re not using your boat. But, your boat is a major investment, just like a house or car. It's an asset that needs to be protected whether it's in use or not.
Even with your boat safely in a marina for the off-season, a lot can go wrong – fire, vandalism, theft, and winter storms all have the potential to create serious damage and financial strain.
If you don’t have insurance on your boat over the winter, you won’t be covered for any off-season calamity, and you’ll be on the hook for potentially exorbitant costs.
In some specific cases, you may be required to have winter insurance coverage – if you are financing or leasing a boat, the lender may require you hold year-round coverage.
Does Home Insurance Cover Boats?
Sometimes yes, sometimes no. If your boat is on your home property, your home insurance might cover it.
However, some home insurers will only cover small boats, like a canoe or small sailboat. If you have a larger vessel, your home insurance might not offer enough coverage, even if you’re storing your boat on your home’s property.
However, even if your home insurance does cover your boat in the winter off-season, the coverage may not protect against more serious costs and accidents.
Not Sure if Your Home & Property Insurance Covers Your Boat for the Winter Off-Season?
Let us help. We'll take a look at your home insurance policy and give you a real, honest answer about your coverage.
Then we can help you look at the best options for insuring your boat this winter.