Preparing Your Boat Insurance for Hurricane Season

As hurricane season approaches, boat owners must take proactive steps to financially protect their vessels from potentially severe tropical storms. One of the most critical preparations is reviewing and potentially updating your boat insurance policy. Verifying that your insurance can offer suitable coverage for hurricanes can save you from significant losses and stress when storms strike.

What Should I Do?

Making sure your boat insurance can address hurricane-related losses may require a multistep approach. Consider the following:

• Review coverage capabilities. Start by confirming that your policy includes comprehensive coverage and its limits are sufficient for the full replacement value of your boat. Hurricanes can cause total losses, so it’s essential that your insurance reflects the current market value of your vessel, including any upgrades or equipment added since your last renewal.
• Understand named storm deductibles. Many policies include a separate, often higher deductible for named storms. Make sure you know what this amount is and how it applies. If it’s too high, consider adjusting your policy to better suit your financial comfort level.
• Check for haul-out and storage reimbursement. Some insurers offer reimbursement for hauling your boat out of the water or moving it to a safer location when a hurricane warning is issued. This can be a valuable benefit, so verify whether your policy includes it and what documentation is required.
• Confirm mooring and location requirements. Policies may have stipulations about where and how your boat must be secured during a storm. Failing to comply could void your coverage. Review these requirements and ensure you have a plan in place.
• Verify contact information. Ensure your insurer has your current contact details and that you understand how to file a claim quickly if needed. Having this information ready can speed up the recovery process.
• Document vessel conditions. Take photos and videos of your boat, including accessories, equipment and electronics. This can help with the claims process should your property be damaged by a hurricane.

We’re Here to Help

Contact Lefebvre Insurance Agency, Inc. today to learn more about hurricane-related boat insurance needs and confirm that you have sufficient coverage.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.