Small boats can have a big impact. Anything from a canoe to a pontoon vessel could mean a lot to your family. These boats are also practical to store and locate, if need be. You can pull your boat out of the water and transport it with a degree of ease that some boaters might not have.
Even so, you have a responsibility to protect your small boat. Most vessels cost a pretty penny, and that's not an investment you want to take a loss on. So, you need insurance – even when your boat is out of the water.
A thorough boat insurance policy can protect your vessel specifically. It will usually include targeted coverage that other policies do not. That said, your homeowners and car insurance coverage might play supporting roles in your coverage.
Insurance Coverage for Storage
You can often store boats in more secure areas than a marina or dock. You might even keep them on your own property.
It's easy to understand why you should store boats when not using them. Threats of theft, weather damage, vandalism and other damage are always present. Should something happen to your boat, you could be left with costly repair bills. Putting the boat in a safe place might reduce the chances of problems.
Still, regardless of where you stora your vessel, threats will still exist. You'll want your insurance to help you during periods of storage.
In limited cases, your home insurance might cover certain damage to the boat. After all, home insurance policies usually have possessions coverage, and a boat is a possession. But remember, most insurers do not intend for home policies to cover boats entirely.
- Most policies only cover damage to your boat that occurs on your property. Damage that occurs away from home won't be protected.
- Policies often limit the funds they provide for boat protection. Most will only provide a couple of thousand dollars to go towards boats. This might prove inadequate should you need to make repairs.
- Some home policies might exclude coverage for certain types of boats, or even all vessels.
Damage occurring in storage is better covered with a boat insurance policy. Boat policies usually contain comprehensive insurance. Coverage will protect the boat from damage not related to a collision or wreck. For example, fire, theft or weather damage can occur anywhere. Comprehensive policies will likely include coverage that can protect the boat during storage.
- Always keep the vessel in a locked, secured space where a low risk of theft exists. If you can use anchors to lock the boat in place, it's a good idea to do so.
Remove hazardous materials from on or around the vessel.
- Use protective covers or store the boat in a covered area.
- Shut down all internal systems. Clean and fix small parts as needed. You should ensure the vessel receives larger maintenance every few months or seasonally.
Unless you live on a body of water, you might need to hook the boat up to your car or a trailer to get it to a dock. Transporting a boat comes with its own risks. But with the right insurance coverage, you might be able to lessen resulting damage if it occurs.
- Generally, only the boat's own insurance policy will cover damage to the vessel in a vehicle wreck. It can probably provide partial or full coverage for this damage.
- Your auto insurance policy likely won't cover boat damage. This is because auto policies generally do not cover damage to personal possessions. Even if you attach your boat to a trailer, the car insurer will likely still consider the boat a possession.
With that said, car insurance might provide some protection in the form of liability coverage. Liability insurance can help you compensate third parties who sustain injuries or property damage in an accident that was deemed your fault. For example, if your trailer swerves and damages a car in another lane, this policy might come in handy.
- Use a trailer that fits the vessel.
- Never haul the trailer without verifying that you have properly connected it. Secure the vehicle to the trailer using multiple locking mechanisms.
- Use multiple locking devices to anchor the boat to the trailer.
- Keep all detachable boat equipment secure during transport. Do not place these items into position until you arrive at your destination.
- Drive safely. Recognize the special techniques you must use when hauling a trailer. You might need to slow down, use wider turns or give extra space to other drivers.
A boat insurance policy is your best bet to protect your vessel during storage and transport. Therefore, contact Auto Insurance Discounters today. Tell our agents how you will transport and store the boat. They can help you find a boat insurance policy that addresses those situations. Do not forget to ask them how your auto and homeowner's insurance policies will cover boat damage. If you need to make adjustments to these policies, do so as pertinently as possible.
With a little bit of preparation and assistance, you can ensure your boat is protected, regardless of where it's housed.