While many boat owners understand that it is just as important to insure your boat as it is a car or truck, some people may be tempted to insure their boat for only part of the year. Much of this temptation arises from the fact that many people only use their boats at certain times when the weather is pleasant, like the spring and summer months.
During the winter and fall, many recreational boaters choose to store their vehicles in dry-docks, garages, and parking lots, while snows and cold weather keep them off the lakes and rivers. Because they do not intend to take the boat out on the water, some boat owners make the decision to cancel their insurance coverage for the off-season and renew it again when prime season begins.
Some people choose to take such actions because they believe they may save money by removing their insurance payments for part of the year. Unfortunately, this may be a mistake, because accidents can still occur even if the owner believes the boat is safely stored. If a person suffers injury near a stored boat, the owner may still be held liable for injuries and expenses as a result.
If a person suffers injury while walking by a stored boat, falls from the boat, or is crushed by a boat falling from height in storage, the boat owner may face liability lawsuits as a result. In addition if the owner wishes to take the boat out for any reason during the off-season, he or she may be held liable for any damages that may occur in the event of an accidents or collisions. In many cases, the amount the person must pay to cover the damage caused in an accident far outpaces the amount they would have paid to keep insurance coverage year-round.
In addition, insurance coverage can protect your investment in the event of theft or damage while the boat is being stored. Statistics show that claims of boat theft rise in the winter-time, when thieves can count on fewer traffic in and around marinas and docks. Boat owners may also return to find that their boat has been damaged while in storage, possibly by the employees of the storage area or other owners who may be there to store or remove their boats.
Most insurance companies attempt to keep their insurance policies low for year-round coverage of boats and other recreational vehicles. By keeping your boat insured year-round, you can have the peace of mind that comes with knowing that your property is protected against theft and accidents. If you would like to know more about insuring a boat or recreational vehicle, visit the website of the Chicago insurance professionals of Insure on the Spot.
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