Boat insurance protects your vessel from a wide range of risks when your boat’s out on the water, but do you still need coverage during the winter? While canceling your boat insurance when your vessel is in storage might seem like a good way to save money, this strategy could also leave you vulnerable to some potentially significant losses. Below are three reasons to carry boat insurance year-round.

3 Benefits of Winter Boat Insurance

1. Your Lender Might Require It

If you financed your boat, your loan is likely conditional on maintaining coverage to protect the lender’s investment. Canceling coverage can get you in trouble with your lender, who may even repossess the vessel if you don’t have proper insurance.

2. Accidents Can Happen Out of the Water

Even stored, properly winterized boats can be seriously damaged or destroyed by severe weather and other accidents. For instance, the storage facility could suffer roof damage, allowing snow and rain to pour down onto your boat. Vessels stored on your own property can also be destroyed by falling trees, vandalism, or simply stolen in the middle of the night. Boat insurance provides protection against these dangers and a broad array of other risks.

3. Insurers Already Account for Winter Storage

Boat insurance companies realize that your vessel will be out of the water during the winter months and that you probably won’t cause an accident or file a claim during this time. Most carriers account for these low-risk periods when calculating your premiums, making it much more convenient to maintain coverage during winter.

With over 85 years of experience and a selection of boat insurance policies from some of the industry’s leading carriers, Crothers Insurance Agency is here to help protect your most valuable investments. They’re dedicated to creating customized policy solutions for boat owners throughout Cecil County, MD, ensuring you get the coverage you need at the best rates possible. Visit their website or call (410) 658-5200 to request your free quote.