Boat Insurance

[garbageman]

What are people doing with regards to boat insurance while access to water is not available. My renewal is coming up May 1st and I am wondering if I should renew. It is stored in my garage in my back yard right now (Need a tractor to get it out). Paying $500 plus dollars right now seems wrong, my sensitivity seems to be rising with isolation.

Thoughts

 

[Wave Runner]

I just paid mine because my boat is part of my home insurance policy. If you have straight out boat insurance and somehow it gets burned in a fire I think you're out of luck getting a dime if the policy has expired. I would check with your insurance to be sure as you never know what can happen.

 

[Fish Whisperer]

It is a waste of money but dont think you can get storage insurance. Im still waiting and making payments on new motors but they are shut down now. Like the warranty that is ticking away while everything on hold

 

[jammer]

I paid mine as well... The $400 gives me peace of mind... i wouldn't be without at least fire and theft...

 

[GPS]

ditto, $460 hard earned, well spent, peace of mind.

 

[SouthernOntariosportsman]

i pay monthly $40. worth every penny.

 

[spincast]

Ask your broker or agent if the company will consider premium relief during the extended layup period. Can't hurt, but as mentioned you want to maintain the policy to protect against theft or other hazards.

 

[Amarok]

I got a 30% Covid premium discount with the understanding that I will call and pay the full premium if and when I decide to put the boat in the water. This is, of course, not a usual option. This is with April Marine Canada. Good to see them working with us. Interestingly enough, the salesman said that 25-30% of boat claims occur off the water.

 

[garbageman]

I checked with MD insurance and got a quote of just under $400. My renewal with my existing broker is $570. Interesting that both are with Aviva. Hopefully there will be overall discounts on not just boats but automobile insurance also. I guess we will have to be proactive with our brokers to get discounts.