Are you one of the fortunate Yachtsmen heading south for the winter? In this case, you don’t have to put your boats away for the winter. Be sure to check your insurance policy for two important warranties:
1. Check your lay-up dates.
If your insurance contract shows the vessel has a lay-up date, usually December 1st through April 1st, there will be no coverage for any loss during this period if the vessel is not laid up and out of commission. Extended coverage can be purchased along with Extended Navigation territories.
2. Check your Navigation Territory.
Most policies are rated for navigable waters where the vessel is used. Typically, the Navigable waters will read, Great Lakes and tributaries, or US Coastal including Florida, Southern Inland Lakes & Rivers, West Coast, Chesapeake Bay. Bahamas, Turks & Caicos, Greater and Lesser Antilles can be included with insurance company’s permission.
When checking your boat policy coverage, a lay-up period will often be waived. However, the policy may not provide coverage from June 1st to November 1st in hurricane prone areas. Just as important as a Float Plan, update you First Aid Kit, nautical charts, and check your Yacht Insurance Policy. Contact your agent to confirm your coverage is adequate.
Vanner Insurance is happy to review your boat policy with you. If you are unsure about your policy, please contact our Marine Division by clicking here.