It is an emotional time of year for folks enjoying the big toys of summer. The days are getting shorter, night time temperatures are beginning to cool. Back-to-school time is coming fast.
Now is the time to decide what you will do with your boats, wave riders, and RVs. Big toys need big, safe storage arrangements. Do not plan to save money by dropping your coverage for the winter months.
Ideally, you have an extra large garage or pole barn that holds everything. But for most of us, we have to find other arrangements. Either try to use some type of outdoor coverage or rent space in a storage unit specifically for boats and campers.
Let’s look at the insurance implications of each of the possible choices:
If you keep your boat at home, your homeowner's insurance could cover any damages to the boat, but there are limits. Usually, a boat stored in your garage will only be covered if it is worth less than $1500. But that coverage is only if the boat is stored at your home,
If you keep your boat at a marina or boat yard you will likely be required to carry coverage in case your boat does any damage to the facility or other boats. But be aware, that boat yards are often left unattended and contribute to the high amount of claims for theft or vandalism.
If you keep your RV or boat at a secure storage facility it is wise to not only investigate what coverage the facility may have but it is also very important to also retain your coverage on your investment in case of damages due to fire, vandalism, or theft.
If you have to transport your RV or boat to a storage facility be sure to check on coverage for the trailer as well as the boat. Go over your plans with your agent. If you have someone else transporting your boat you must have all the insurance issues discussed well in advance.
Full Boat Insurance protects you and your boat if you are in an accident and also covers any damage your boat may cause to other property or persons, Boaters insurance is available for all types of boats, wave runners, sailboats, row boats, and yachts.
The many ins and outs of camper or motorhome coverage need a good sit down with your insurance agent. When your RV is in storage you do have the possibility of removing collision and liability coverage while continuing coverage for fire, storm damage, or theft.
How & where you store your boat or RVs are all great topics to go over with your independent insurance agent. Luckily, Jonathon is well versed in all the best ways to protect your investments.
Be certain to make plans now to protect your toys until we get to pull them out again.