Why You Should Have Boat Insurance for The Entire Year

Boating is a great way to spend time with family and friends, and it can be a relaxing escape from the hustle and bustle of everyday life. However, as with any activity that involves risk, accidents can happen, and when they do, they can be costly. That’s where boat insurance comes in.

Whether you’re a seasoned boater or just starting, read on to discover why boat insurance is a wise investment.

Boat Insurance in New England

Owning a boat in New England allows you to explore lakes, rivers, and the Atlantic. The New England landscape is unique, and the views seen from a boat only add to the experience of living in this region. Activities such as fishing, swimming, watersports, or just taking a cruise amplify the Northeast’s advantages. There is just nothing like it!

That said, living in the Northeast also comes with challenges, especially for boat owners. The four-season experience is incredible yet taxing on boat owners. Unless you’re a commercial fisherman, it’s fall, and you are probably getting ready to pull your Boat out of the water if you still need to.

Next, you will need to winterize your Boat to ensure she is ready for the Spring Launch.

Boat Winterization Considerations:

• Winterize the Boat Myself
• Schedule an Appointment and Drop Off
• Wrap the Boat this year
• Store Indoors

The list goes on, and one of the things we advise you take off your list is if you are considering canceling your boat insurance over the winter months.

Why You Should Have Boat Insurance All Year Long

The main reason many cancel boat insurance after every season is to save money. However, there may be better approaches in the long run. If you need more clarification about carrying boat insurance throughout the year, here are four compelling reasons why it’s essential.

First and foremost, it’s likely required. If you financed your Boat, your lender may require you to carry insurance year-round to protect their investment. Additionally, many marinas require proof of insurance to dock your Boat there.

It’s important to remember that your Boat is still at risk even when it’s not on the water. Theft, vandalism, and other accidents can happen at any time of year, and boat insurance can protect you from costly repairs or replacements.

Moreover, your Boat can still be damaged by natural disasters like fire, flooding, and hurricanes while in storage. Having the right insurance coverage can save you from significant financial losses.

Finally, it’s often more cost-effective to carry boat insurance year-round. Many insurance companies offer reduced deductibles for each claim-free year and loyalty discounts for maintaining coverage for all 12 months and renewing policies annually.

Ultimately, deciding whether to carry boat insurance year-round is up to you. However, we recommend it to protect your investment and avoid costly repairs or replacements. Accidents tend to happen when you least expect it; retaining your Boat insurance for all 12 months is the practical decision. If you have any questions about Boating Insurance, don’t hesitate to contact Safety Northeast Insurance.