Boat Insurance

With the fall season now in full swing, boating season is officially coming to a close. While you may be able to take your boat out for a few more sunny weekends at the lake, the time to store away your boat is near. Now the question lingers, can I ditch my boating insurance during the winter months? 

Am I required to Have Boating Coverage in the Winter?

If you are financing your boat, you are most likely required to have year-round boating insurance. Boats are an expensive investment; requiring most boat owners to take out a loan, rather than paying upfront. Lenders will typically require boat owners to carry insurance year-round to ensure the safety of their investment. However, if you are not required to have coverage year-round, it is actually much cheaper to keep your policy all year rather than cancel it come winter. By canceling your coverage, you risk negatively affecting your credit, and you may be faced with higher rates when you seek to return. On the contrary, by continuing your coverage, you are optimizing your chances of receiving lower rates.

Why Is Year Round Boating Insurance Important? 

Aside from the obvious fear of a bad reputation from cancelling your insurance policy mid-year, having boating insurance in the off season is actually extremely important. There are many potential risks that come with owning a boat. Even if your boat is away in storage, risks such as fire, theft, or vandalism could very well happen. 

How Do I Take Care of My Boat During Winter?

Make sure all water drains out of your boat; otherwise you risk causing electrical damage and parts will begin to rust. Make sure that your boat has a cover and is stored indoors and out of the sun; otherwise weather elements such as sun, rain, wind, and sand will destroy the paint and interior. Make sure you are properly insured with the right boating insurance for the type of boat you own. Let Palm Desert Insurance work with you to ensure that you have the right boating insurance policy. For more information on boating insurance options click here. Get your free quote today or give us a call at (888) 888-8872.