Boat insurance is important for protecting you from any kind of boat accident. You may not use your boat in the winter and may be thinking about canceling your insurance to save money, but let’s get into whether or not it is necessary.
Boat insurance depends on your state laws so it is best to research if it is required or not. During the winter season, you may not be using it very often due to frozen lakes, cold weather, etc. It may be tempting to save some money on insurance by canceling it but you should, in fact, keep it active.
If something were to happen to your boat, for example, someone stealing your boat, stealing personal items off of it or it was damaged in some other way you would have to pay for it out of pocket. The responsibility falls on you, not your insurance.
You could also lose any bundled discounts when you cancel your boat insurance. If you have your boat insurance bundles with your car insurance, homeowners insurance, or renters insurance, you will lose that discount.
Instead of trying to cancel your boat insurance during the wintertime, contact your insurance company and talk about adjusting the cost of your insurance during the offseason. Boat insurance is important.
Instead of canceling it, work something out with the company so you can keep your boat insurance year-round.