Apr 16 2020 All Articles

Reasons Why Boaties Should Carry Boat Insurance Year-Round

As a boat owner you may be wondering, why you should insure you boat year-round, especially when you only get to use it for a few months of the year? It's a good question, and it is something boat owners do ask.

If you are considering seasonal insurance here are some reasons why you should insure year-round.

Insuring your boat

Boat Insurance is most likely required.

If your permanently moored at a marina or wish to use their facilities (travel lift, hardstand etc) you are required to show proof of insurance, at the very minimum third party of a least 5 M.

If you have finance, again most likely required by the interested party to carry insurance all year round. It makes perfect sense, after all, since the interested party is making an investment as well. They must ensure that their investment is protected all year.

There’s risk out of the water, too.

At the very least, boat insurance should protect you from theft, fire and malicious damage, which can unfortunately, happen at any time.

Whilst in storage in the off season, rodents often make themselves at home on your boat, nibbling through electrical wires and upholstery.

The compelling force of mother nature doesn't have an off-season.

Catastrophic events like fire, floods, storms, earthquakes can happen year-round. Having insurance can keep you from losing hundreds or thousands of dollars. - Ripped canvas, trees falling, smashed window screens, flying tenders.

It saves you money.

By keeping your boat insurance all year round, you save money long-term!

If you cancel your policy midterm, when arranging new cover, in most cases it is taken on as new risk, which means a new application required at the company's prevailing rates, which may not be what they were previously.


Insurance companies also do look at your history, loyalty discounts are likely to be given for maintaining coverage and renewing annual policies.