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Craig Insurance Group Inc

309 W Millbrook Rd, Suite 151
Raleigh, NC 27609

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Do I Need Boat Insurance All-Year-Round?

If you live in Raleigh, NC, you might find it fun enjoying the waters with a boat, Jet Ski, and anything in between. Amid the excitement of water activities, you need to purchase proper boat insurance from Craig Insurance Group to protect your prized asset. 

Most boaters enjoy boating activities during hot months. During winter, it’s not unlikely to find most water vessels parked in garages. That said, many boaters wonder whether they should cancel their boat insurance when not in use. If you want to find out, keep reading.

Do I need boat insurance all year through?

If you are a boat owner, you might ask yourself: should I carry boat insurance all year through? Isn’t it expensive? While the boating season might be over, here are reasons you need to have boat insurance throughout.

  • It’s required: While boat insurance isn’t mandatory in North Carolina, if your boat is loan-financed, your lender may require you to carry boat insurance until you finish paying off the loan.
  • Risks still exist: Yes, you are not in the water, but risks can still occur. Even though your boat is parked in the garage, perils like fire, vandalism, and theft can still strike. While you may have home insurance, it only provides limited protection to your boat. Home insurance protects your boat while it’s within your property, and it doesn’t offer all-around protection like boat insurance.
  • Saves you on boat insurance premium: Nobody likes paying out money. However, we can lose while trying to save. The case and point are trying to cancel your boat insurance during the off-season only to reactivate during hot seasons. This trend may become more expensive than carrying boat insurance throughout. Why?

Most insurance companies will reward you with a free deductible for every claim-free year. Others may reward you with discounts for carrying boat insurance all year through. Unfortunately, you won’t enjoy these incentives if you cancel your insurance halfway. 

Boat insurance in North Carolina

Because risks don’t have off-seasons, you need to carry boat insurance from Craig Insurance Group throughout the seasons. Contact us today for an unbeatable quote.

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