When a boat is put aside for the winter months, it may seem like a waste of money to continue paying for insurance coverage. Although the lay up period may not seem to require insurance, it is possible for a boat to be damaged during that period. Having coverage is still an important part of protecting personal assets, though it may be possible to get a discount in Lufkin, Texas.
In many cases, discounts are provided by insurers during the lay up period because the number of possible risks associated with the vessel is limited. It is unlikely that a boat will become damaged when it is properly winterized and put away for the season. The exact discount that may apply can vary, but it may reduce the monthly cost of coverage by a reasonable percentage.
Conditions for Reductions
Although reduced prices are available, companies may have conditions that apply to the ship. In many cases, insurers ask you to winterize your boat and keep it in an appropriate location during the winter months. A properly winterized boat is a vessel that cannot go into the water immediately.
Some insurers may also have a strict limitation on the size of the vessel. For example, the insurer may require that the boat be at least 27 inches long or longer before offering a discount. The size requirements may vary between companies, so it is important to look through the policy for any details before assuming that the vessel is too small.
It is possible to get a reduced rate during the winter months or when the ship is not in use as long as the appropriate requirements are met. To learn more about getting a discounted rate, contact us to talk to an independent agent.