Although Idaho does not have a legal requirement that boat owners must carry insurance on their vessels, it is highly recommended given the risks associated with boating and the investment made into the watercraft. Let’s take a look at three reasons why boat insurance is a no brainer purchase.
1. Inclement Weather
Contrary to public opinion, bad weather doesn’t have an offseason and can strike at any time leading to costly repairs on your boat. Even if you store your boat during the winter months, that doesn’t mean that a flood, fire, or another type of natural disaster cannot damage your vessel. Consequently, having boat insurance means that you are covered for natural disaster-related damage up to your policy limit and minus your deductible.
2. Homeowners Insurance Doesn’t Cut It
If you store your boat on your property, it may be tempting to believe that your homeowner’s insurance policy will cover the vessel; however, this is largely not true. While it will offer some form of coverage while it is on your property, the amount will be significantly less than the boat’s value and nowhere close to what a traditional boat insurance policy will cover which includes comprehensive, property damage, bodily injury, and collision.
3. The Marina May Require Boat Insurance
Even though Idaho does not require boat insurance, it may be required by the storage facility to include a boatyard or marina. Consequently, it is important to double-check the rules and regulations of where you are storing the boat during both the summer and winter months to ensure whether or not insurance is needed.
At Idaho Select Insurance in Meridian, ID, our friendly and professional team of insurance specialists will happily answer your questions and help you find the perfect policy for your needs. Give us a call today and we’ll help you find your next boat insurance policy.