You carry out boat maintenance all year through, but do you need boat insurance throughout? Unfortunately, most boat owners cancel their watercraft insurance during the off-season, only to reactivate the coverage when the boating season begins. While this might seem like a prudent penny-saving tactic, it can end in tears.
Why should I maintain boat insurance all year through in Cullman, AL? Insurance Solutions Inc. has the answer for you.
It may be required
While boat insurance isn’t compulsory in Alabama, your lender may require you to buy basic boat insurance coverage if your loan liability is outstanding. You see, just like you, your lender has an investment stake in the boat. As such, they need to protect their financial interest through boat insurance.
Risks don’t have an off-season
Risks like theft, fire, and natural disasters don’t have an off-season — they could strike even when your boat is in storage. Given this reality, it makes sense to safeguard your boat all the time to avoid denting your pocket when these risks occur.
It may be cheaper
It might surprise you that maintaining boat insurance all year through might be cheaper in the long run. Why? Some insurers reward you with a subsidized deductible for every claim-free year. Besides, other companies may offer loyalty discounts for maintaining boat insurance all year through.
For peace of mind
While your boat might be in the garage, it doesn’t mean it’s entirely safe. Theft, fire, and falling objects could damage your boat, forcing you to incur out-of-pocket repair costs. With this in mind, it’s wise to maintain boat insurance all year through to have a worry-free time even when not using your boat.
Buy boat insurance today!
In all seasons, you need boat insurance to protect your prized investment. If you are in Cullman, AL, and its environs, don’t hesitate to get in touch with Insurance Solutions Inc. for an affordable quote.