In many places, boating isn’t a year-round activity, and some boat owners only consider purchasing insurance during the season. However, there are a few reasons to keep coverage year-round. Read on to learn the benefits of non-seasonal boat coverage from an Insurance Company Around Elyria OH.
Off-Season Problems
Almost 20% of insurance claims happen outside the boating season, and numerous things can go wrong with the boat when it’s not in use. Dropping coverage in the off-season can prove disastrous, and losses can go into the thousands of dollars. Thieves and vandals don’t take a break, and a boat insurance policy provides protection in case a vessel is damaged or stolen while in storage.
Accidents and Natural Disasters
Many insurance claims arise due to fire or flood damage. When a boat is stored, it is still susceptible to damage from unforeseen events and natural disasters. Some customers extend their homeowners’ coverage to these events, but some boat issues aren’t covered by a homeowner’s insurance policy. Whether a boat is stored in the garage, the yard, or a marina, the owner should reconsider canceling their insurance during the off-season.
Liability for Accidents
A boat owner can be held liable for injuries occurring near a stored or unattended boat. A boat insurance policy will protect the owner from having to pay high medical bills when someone is injured in or on their vessel.
Cost-Efficiency
In many cases, it is actually cheaper to keep a boat insurance policy year-round. An Insurance Company Around Elyria OH will reward customers for keeping coverage all year, and these rewards typically come in the form of a deductible reduction for each period without a claim. After a long time with no claims, a customer may have a very low deductible or none at all. If a policy is canceled after each boating season, when it’s time to make a claim, the owner is more likely to pay the full amount.
Some see boat insurance as an unnecessary purchase because boats aren’t used as often as vehicles are. However, this coverage, like auto insurance, will protect the owner from the unexpected. Call today to request a quote or visit to learn more.
