Keystone State Insurance

929 S High St #20B
West Chester, PA 19382

Do I Need To Provide Insurance While My Boat Is In Storage?

Are you the diligent type of boat owner who cleans, preps, and winterizes their boat every year before storing it during the offseason? Winterizing won’t help in the event of a fire or theft. Don’t be tempted to overlook insurance coverage for your boat even when it’s in storage. If you rent West Chester, PA storage space, check with the storage company to see what security measures the facility provides and if they provide insurance for your boat.  

Don’t Stop Your Coverage

While it may be tempting to try to save some money by canceling your Keystone State Insurance boat insurance policy while it’s laid up, there are multiple risks that your boat still faces, from fire to theft to vandalism. In fact, according to the National Insurance Crime Bureau, there were more than 2,700 watercraft thefts from January-April and September-December in 2015. Additionally, your watercraft could be damaged by fire, animals, or acts of nature.

Doesn’t My Homeowners Insurance Cover My Boat?

Many boat owners think their West Chester, PA homeowners insurance policy will cover their boat while it’s stored for the winter, and cancel their boat insurance. But in many cases, the homeowner’s insurance will not cover your boat against mishaps when not in use. Even if your policy does offer boat coverage, typically that only covers low-powered boats such as small sailboats, canoes, or similar craft. Additionally, your policy likely has liability coverage limits capped at around $1,000.

Am I Required To Have Off-Season Coverage?

There are some circumstances in which you could be required to carry a boat insurance policy even when stored during the off-season. For example, according to the National Marine Lenders Association, if your boat is financed, the lender may require that you provide year-round coverage.

Do you have questions about your boat insurance coverage? Give us a call at Keystone State Insurance today. Our agent can answer any insurance coverage questions you may have, and help you find ways to protect your watercraft until warmer weather arrives.

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