You might think that you don’t need boat insurance during the off-season, especially if you’re keeping your vessel stored away from the water. However, while you may not be using your boat, maintaining adequate vehicle insurance coverage still carries a number of advantages. Here are a few reasons why it’s critical to have boat insurance throughout the winter season.

Why Boat Insurance Matters During the Off-Season

Risks Are Still Present

Boats face many hazards even when they aren’t in use or are kept in storage. For example, if the vehicle isn’t constantly watched, criminals may have ample opportunity to steal the boat or its components. Storage facilities and homes can also be subject to fire, flooding, and other disasters that may damage the craft.

A well-designed boat insurance policy protects against these losses, so you won’t lose out on your investment or have to pay high out-of-pocket costs on repairs.

Home Insurance Isn’t Enough

When people store a boat on their property, they often assume that a homeowner’s insurance policy will cover any vehicle theft or damage that occurs during the off-season.

In reality, most home insurance policies do not extend coverage to boats. If they do, the coverage limits are usually designed to address needs for smaller crafts—such as kayaks and canoes.

For this reason, you should continue a separate vehicle insurance policy that’s designed to cover the specific risks associated with your boat.

Protects Financing Agreements

Unlike auto insurance, boat coverage isn’t legally required in Connecticut. However, you may still be required to cover the vehicle if you’ve financed it through a dealer. Many dealers require liability and comprehensive coverage until all payments are made so that they can avoid losing out on their financial investment. This coverage requirement pertains even when the boat isn’t being used during the off-season.

While it’s critical to protect your boat all year long, it doesn’t have to be expensive. With support from Action Auto Insurance Agency in New London, CT, you can customize your policy to fit your specific risks and concerns. Understanding the importance of savings, these friendly agents can also introduce you to ways you may be able to save on your vehicle insurance, such as by reducing premiums in the winter or bundling with a homeowner’s policy.  Visit this local agency online to learn more about these capabilities, or call (860) 444-7224 to request a boat or car insurance quote.