As summer winds down and fall approaches, boat owners may be wanting to look at different aspects of their recreational insurance policies. In the summer time, talking about Florida boat insurance has a lot to do with the actual operation of boats on nearby or faraway waterways. However, in the autumn season, as owners start to shelter and cover up their boats for the off-season, it’s often helpful to look at other aspects of the boating insurance that cover the specific storage of a craft.

Are There Issues Around Where You Live?

Some boat owners may be surprised to learn that insurance companies factor in different elements of their residential locations into policy calculations. For example, if you live in a flood plain or a storm prone area, this may be a factor in your individual insurance policy. The same holds true for high theft and high vandalism areas, or other kinds of areas where additional risks may cause additional premium costs.

What Kinds of Damages Are Covered?

With boats, as with most other physical assets, there’s also the issue of what specific kind of damage are covered. Does your individual policy cover flood damage? Does it cover damage from extreme winds, such as indirect damage from falling trees or heavy outbuildings or structures? All of this may seem like tiny details, but will be very relevant if a claim needs to be filed. There are also issues around whether other heavy items on a parcel of land are not adequately tethered to the ground and whether buildings are generally in good repair.

A lot of this has to do with the particular language of an insurance contract. While more general hazards might be covered, some specific ones are explicitly not covered under individual exclusions or disclaimers on a policy. Read through the policy carefully and understand whether the insurer has excluded any common hazards from the policy that may affect your boat while it is in storage.

A safe boating season is a top priority, but boat owners can also profit from thinking carefully about insuring their water-worthy vessel while it’s not in use. For more on boat insurance and other kinds of personal property insurance policies, call Casey Insurance Group at 888-537-1412.