Properly insuring your boat while it’s in storage is essential to protect a significant investment against unanticipated events. According to the insurance professionals at the Ransom & Associates Insurance Agency in Winder, GA, consider these insurance tips for your boat while in storage.

Insurance Tips for Boats While in Storage

Start by reviewing your existing boat insurance policy to be certain you understand existing limitations/exclusions.

Choose an Appropriate Storage Location:

• • Indoor Storage– with the highest level of security and overall protection. Rates may be reduced for this type of boat storage.
  • Outdoor Storage-  as one would expect, outdoor storage facilities are generally less secure, so additional coverage may be recommended.  
  • Trailer Storage requires that you ensure it is properly secured to the trailer. Consider adding or revising your comprehensive coverage to protect against damage, theft, etc.

Other Important Considerations

Certain companies provide their customers with discounts for boats in secure facilities. Check to see if you qualify.

• Before storing your boat, take pictures to document the boat’s current condition and maintain accurate records and receipts should you need them for a future claim.
• Invest in security for your boat storage area – i.e., a surveillance camera, alarms, etc., which may help qualify you for premium discounts.  
• Let your insurer know about the location and security measures.
• Review your policy’s deductible to understand how it may differ for storage-related claims. A higher deductible often translates to lower insurance premiums, but it requires higher out-of-pocket costs should a covered event occur.

Contact a Leading Insurance Agency Today

Remember that boat insurance requirements and options vary. Contact Ransom & Associates Insurance Agency in Winder, GA today.