Hurricane Season and Your Boat: Are You Covered?

If you own a boat and live in areas at risk of severe weather, you must take certain precautions to secure appropriate financial protection. Hurricanes present particularly prevalent threats for you and your vessel, potentially sinking it or inflicting extensive damage. As a responsible boat owner in Florida or other areas at risk of these severe tropical storms, you should make sure that your boat insurance coverage is equipped to handle possible damage.

How Can I Insure My Boat Against Hurricanes?

Hurricanes can bring powerful winds, destroy dams and levees and cause widespread flooding, potentially leading to catastrophic losses. Whether you store your boat in a marina, dock it along the shore or store it at your house, hurricanes can inflict costly damage. Comprehensive coverage is key if your boat is swept away by floodwaters, struck by lightning, or damaged by objects blown around by winds.

What Is Comprehensive Coverage?

Coupled with collision coverage, comprehensive coverage is crucial to insuring your boat against physical damage. This part of a boat insurance policy can address losses involving incidents other than crashes, such as fires, theft, vandalism and severe weather. As such, comprehensive coverage may be the first line of defense against financial losses caused by hurricanes.

Are There Exceptions?

In areas particularly at risk of hurricanes, standard boat insurance policies may include certain nuances regarding weather-related losses. In some cases, coverage might exclude losses caused by named storms, including severe tropical storms and hurricanes.

Alternatively, you might also need to reach a named storm deductible. These policy clauses establish a different, often percentage-based out-of-pocket minimum you contribute toward covered losses. For example, if your boat is insured for up to $100,000 and you have a 10% named storm deductible, you’d be responsible for paying $10,000 for hurricane-related losses before your carrier would issue financial assistance.

We’re Here to Help

At Wiglesworth-Rindom Insurance Agency, we know there may be various nuances and complexities related to coverage for boats in Boynton Beach & Stuart, FL and throughout the Sunshine State. Contact us today to discuss your options and confirm that you’re adequately covered for hurricanes.

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.