Boating season may be over, and your boat safely stored away, but that doesn’t mean you should cancel your insurance. Here are three good reasons to keep your coverage all year.
Property Damage Knows No Season
You may not be using your boat this month or next, but your are still at risk of damage while the boat sits in dry dock. Fires, theft, vandalism, or flooding, can happen any time throughout the year. If you have canceled your boating insurance policy, you will be stuck with the bill to repair or replace your boat because of circumstances beyond your control.
Injuries on or Around Your Boat
Even while your boat sits wrapped up for the winter, you could still be held responsible if someone falls or is injured on or near it. That can be true even if they were trespassing or otherwise there illegally! Don’t get caught paying for a trespasser’s medical bills, all because you wanted to save a few dollars.
A History of Boating Insurance Can Save You Money
Several boating insurance companies offer what they call “disappearing deductibles .” These companies reduce the amount you have to pay before your Comprehensive and Collision insurance kicks in. But an interruption in insurance, including when you cancel your policy for the winter, resets that disappearing deductible. If you have a claim next boating season, you could end up paying $500 or even $1,000 more than if you keep your coverage over the winter.
According to Progressive, nearly 20% of all boating insurance claims in northern states happen between Labor Day and Memorial Day. Don’t get caught without coverage just because your boat is in storage. Keep your insurance and make sure you are covered in case of damage, injury, or loss.
David Christensen helps the victims of boating accidents recover for their injuries and property losses. He and his team have helped numerous boaters in their time of need. If you know someone who has suffered a boating injury or loss, contact Christensen Law today for a free consultation.