As a seasonal boater, you may be tempted to only secure insurance during the months you’re actively using your boat. It seems logical: Why pay for coverage when your vessel is safely docked or stored away for the off-season? However, this approach can expose you to significant risks and unnecessary costs. Here are compelling reasons why seasonal boaters need year-round insurance coverage.
Protection from Off-Season Risks
Theft and Vandalism
Boats are valuable assets, and even when they are stored, they can be prime targets for thieves and vandals. Comprehensive boat insurance can cover the costs associated with theft, attempted theft, and vandalism.
Weather-Related Damage
Mother Nature can be unpredictable. Winter storms, flooding, and unexpected weather events can cause significant damage to stored boats. Year-round insurance ensures that you are protected from these potential losses.
Fire and Other Non-Navigational Risks
Fires, whether caused by faulty wiring, nearby forest fires, or other sources, can occur at any time. Non-navigational risks like these don’t take a break during the off-season. Comprehensive coverage will protect your investment against fires and other unforeseen events.
Financial Security and Peace of Mind
Avoid Lapses in Coverage
Insurance companies often increase premiums or refuse coverage to those who have lapses in their insurance history. By maintaining continuous coverage, you not only protect your boat but also avoid potential financial penalties.
Liability Coverage
Even if you’re not using your boat, you may still be held liable for accidents or injuries that occur on your property, especially if someone gets hurt while your boat is in storage. Liability coverage can protect you from substantial legal and medical expenses.
Lower Overall Premiums
Maintaining continuous coverage can sometimes result in lower overall premiums. Year-round insurance may cost less annually than trying to restart a policy seasonally, especially when considering potential discounts.
Flexibility and Convenience
Having year-round coverage means you don’t need to worry about remembering to renew your policy or checking to ensure coverage before making spur-of-the-moment boating trips. It’s one less thing to manage in your busy life and ensures that you are always protected.
Conclusion
While it might seem like a savvy financial move to drop boat insurance during the off-season, the potential risks and costs of doing so far outweigh the savings. Year-round boat insurance provides continuous protection against theft, vandalism, weather damage, and other risks. It also offers financial security, peace of mind, and potential cost savings.
As a seasonal boater, consider the comprehensive protection that year-round insurance coverage offers. Safeguard your valuable investment and enjoy the flexibility to hit the water on a whim, knowing that you are fully covered no matter the season.
