Do I Need Boat Insurance through the Winter?

Even if your boat is being kept indoors for the winter, you may want to have your boat insurance in place. While it may be tempting to cancel your insurance coverage to save money while your boat is in storage for the season, it’s vital to remember that your boat is still at danger.

The threats of fire, vandalism, and theft are not restricted to the summer months; they can occur at any time of year.

If you cancel your boat insurance for the winter and a theft — or some other disaster — occurs, you may be liable for paying for the damage yourself.

The Importance of Winter Boat Insurance

Although you may believe that boat insurance is only required during the boating season, some dangers exist even when the boat is not in use. During the winter, we do not advocate canceling or lowering watercraft insurance coverage. This is why:

Theft or Vandalism Risk

Even when secured and stowed, your boat is vulnerable to theft, vandalism, storm damage, and other threats. Even when the boat is not in use, these dangers exist regardless of where you live or where you keep it.

By removing or lowering coverages, you expose the vessel and your assets to such risks.

If you cancel your boat insurance coverage and the boat is stolen, for example, you will have to pay for it fully out of pocket.

Long-term costs are higher when there are gaps in coverage.

If you cancel coverage before the insurance term is over, you may be charged a penalty.

Furthermore, insurance firms may give better terms on a boat that has previously been covered rather than one that has not been insured.

Your boat will not be covered by your homeowner’s insurance.

Many consumers mistakenly assume that their homeowner’s insurance will cover their boat in the winter. Powered watercraft, such as pleasure boats, sailboats, motor yachts, and center consoles will not be covered by your homeowner’s insurance. A boat insurance policy, on the other hand, can cover things like liability, collision, and flood damage, among other things.

Lenders often want coverage all year long.

If you’re financing the purchase of your boat, you’ll need to keep your insurance valid throughout the year. This includes the winter months when the boat is moored. Lenders safeguard their investments, and you should do the same. Similarly, if you leave your boat at a marina or at a storage facility, they will almost always demand boat insurance all year.

Contact Panichelle Insurance at if you have any questions about boat insurance.

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