Should I Keep My Boat Insurance This Winter?

If your boat is your pride and joy, then there is no doubt that you have taken every measure necessary to protect it, including having it insured. You do all that you can to take care of it so that you can enjoy it during the warmer months. In fact, you live for the warmer weather so that you can be out on your boat. But when the weather turns colder and you have to store it for the winter, you may feel as though your insurance coverage is unnecessary. Keep reading to see if you should keep your boat insurance during the winter.

Is It Necessary to Keep Boat Insurance All Year?

While you are not using your boat during the winter, you may feel that having insurance is a waste of money. However, even while your boat is being stored, you should consider keeping it insured. There is still the chance of theft, or damage due to weather or other incidents. If the boat were not insured and an accident occurs, you may be liable to pay for the damages.

Is It Required to Have Boat Insurance During Winter?

There are certain circumstances in which you may be required to have boat insurance. In many cases, if you have a boat that is being financed, then the lender may require that you have it consistently insured. If you are unsure if you need to keep your boat insured during the winter, contact your lender. You may also discuss your options with the insurance company.

Is It Possible to Cut Costs During the Winter Months?

It may be possible for you to save costs on your coverage during the winter months while you are not using your boat. For instance, you may be able to drop some of your policy’s coverage types or adjust your premiums. You will want to change your policy back to its original coverage once the spring starts, to make sure that when the time comes to use your boat again, you will be completely covered.

If you have questions regarding boat insurance, contact Northeast-Metro West Insurance.

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