When winter comes to Altoona, PA and surrounding areas, many boat owners lay up their boats in a boatyard or at their own private docks or land. It will be many months until boating season begins again, so should you cancel boat insurance during the off-season? H. Dean Allison Insurance advises boat owners not to cancel.
Here’s why:
Leased Boats Are Required to Have Year-Round Coverage
If your boat is leased, the creditor almost certainly has a caveat written into their terms that requires year-round insurance. This is to cover their losses, not yours. It may seem wasteful, but it’s not.
You Want to Protect Your Own Investment, Too
Even if you own your boat outright, you’ll want to keep coverage in the off-season. Boats are a big investment, and it would be a shame to lose it all just because you chose to cancel insurance during the off-season.
Accidents Happen Out of the Water
Altoona PA is landlocked and unaffected by things like hurricanes and tidal waves. But boat accidents happen out of the water all the time. Consider the ramifications if something unexpected happened at the boat dock. If you’re paying for over-winter boat storage, the facility’s liability insurance would pay for the damage. But what if their insurance lapsed? What happens then?
Theft is Always a Possibility
The odds that someone would steal your boat may seem slim, but boat theft is more common than you might think. Your boat insurance will protect you against this possibility, too.
Boat Damage During Storage
The equipment on your boat is covered with boat insurance, too. So if something happens during the winter season – something freezes and breaks, or the grandkids accidentally break something while playing on the boat – your investment is still covered as long as you keep the insurance coverage.
Contact Us Today
If you’re looking for boat insurance for a new or used boat in or around the greater Altoona, PA region, H. Dean Allison Insurance is ready to help. Contact us today for more information.
