Better to Be Insured Year Round
When the end of the season rolls around and it’s time to put your boat into storage, should you cancel your insurance? Of course not! Even if your boat is stored away for the winter, that doesn’t mean it doesn’t run the risk of being damaged. Just think of how heavy snow cover can cause roofs to collapse or how there’s always a risk of fire. And let’s not forget about vandalism and theft, which are among the most frequent causes of claims.
Not to mention rodent intrusions! Every year, cases of mice, squirrels and rats ripping up benches and mattresses or gnawing wiring, etc. are reported. These pests can cause horrific damage requiring major repairs amounting to thousands of dollars. Imagine the cost such damages would entail if your boat were not insured during the storage period! What’s more, if your boat is not 100% paid off yet, your creditor may require it to be insured.
There are also other pests boaters must be wary of that can strike between the end of the season and the time of storage, such as raccoons, muskrats and beavers. These aquatic rodents love to chew the drain pipes located at the rear of the boat. This can sometimes lead to water infiltration, causing the boat to sink. Unfortunately, damages caused by these aquatic rodents are not covered by your insurance contract. You must therefore be extra cautious about where you dock your boat before storing it.
Winter lay-up period
Your insurance contract includes a winter lay-up clause that applies from November 30 to April 1 during which the boat must be out of the water. However, if you wish to spend the winter in the southern hemisphere, your insurer may grant you an exemption. Please contact your MD Marine broker for more information.