Do I Need Boat Insurance All Year Through?

Most people consider boat insurance necessary during the boating seasons. But what about the off-season time? Many boat owners cancel boat insurance to save money, but are they saving? The truth is that having boat insurance only during the boating season can be expensive in the long run. At Old Pueblo Insurance, we have prepared a rundown of why you need boat insurance all year round. 

Reasons why you need boat insurance all year through

We know that during winter, you will most likely park your boat in the garage. But should you cancel your boat insurance when you are not using your boat? Well, here are some of the common reasons why you should not cancel. They include:

  • The financial lender may require: Boats for sure are expensive. There are high chances of you having financed your boat instead of buying it cash. In that case, lenders need to safeguard their investment all through the year. Therefore, as a boat owner, you require insurance all through the year if it’s loan-financed. 
  • Some risks don’t go on holiday: Mother Nature has no off-season. Your boat is still vulnerable to natural disasters like vandalism, falling objects, fire, theft, and hurricanes, depending on your area. Having proper insurance all the year through can help deal with the repair or replacement cost in case of damage.
  • It’s cheaper in the long run: It’s cost-effective to have boat insurance all year round. Why? You may ask. Most insurance agencies reward you with a reduced deductible each claim-free yearly, not to mention the loyalty discounts given when renewing annual policies.
  • Out of water risk: Some risks quickly occur out of water. Risks like vandalism, accidents, or theft may occur at any time of the year, more so when the boat is parked. Having insurance all year round will help ease such costs. 

Boat insurance in Oro Valley, AZ

If you are a boat owner and consider getting the insurance only during the boating season, think again. The above reasons are good enough to have you carry your boat insurance throughout the year. At Old Pueblo Insurance, we will help you get the best insurance coverage that suits your need at an affordable rate. Contact us today to safeguard your investment.