As a boat owner, you know how important insurance is to protect yourself and your passengers while out on the water. But what about when your boat is in storage? Do you still need insurance coverage? In today’s post, we provide the answer.
Do You Need Boat Insurance When Your Boat is in Storage?
In short, yes, you still need boat insurance even when your watercraft is in storage.
The reason is that even if your boat is in storage, it’s still vulnerable to damage or theft. In fact, theft is more common than you might think.
A boat sitting idle in storage can be a prime target for thieves, who can easily break in and steal valuable equipment or even the entire boat. Theft aside, there are other risks to consider as well, such as fire or damage from falling objects.
Without insurance, you’ll be responsible for the costs associated with these risks.
Coverage Options
When it comes to insurance coverage for your boat in storage, there are a few different options to consider.
Your boat insurance policy may already include coverage for “lay-up” periods when your boat is out of the water and in storage. However, it’s important to review your policy carefully to make sure you understand the terms and any limitations that may apply.
Additionally, you may want to consider adding specific endorsements or riders to your policy to ensure your coverage meets your needs.
some insurance companies offer a separate storage insurance policy that covers your boat specifically while it’s in storage. This can be a good option if you don’t want to make changes to your existing boat insurance policy.
It’s important to note that even if you have insurance coverage for your boat in storage, you still need to take steps to protect your vessel from damage or theft. This includes storing it in a secure location, using anti-theft devices such as locks or alarms, and removing valuable equipment from the boat.
The more you do to protect your boat, the less likely you are to experience a loss that could trigger an insurance claim!
Wrapping It Up
Boat insurance is essential even when your boat is in storage. Whether you opt for an endorsement to your existing policy, a separate storage insurance policy, or another type of coverage, it’s crucial to review your options and understand the terms of your coverage.
If you need help making sense of your options, contact us today! Our team will be glad to assist you in making the right choice for your boat insurance needs.
Delgado’s Insurance: Dependable Insurance in California
If you need dependable and affordable insurance in the Golden State, look no further than Delgado’s Insurance.
We have locations in Riverside, California, and Bloomington, California. Get in touch today by telephone (951-361-0084, 909-421-9003), email (mail@delgadosinsurance.com), or through our social media accounts (Facebook, Twitter)!
