Do You Need Boat Insurance If Your Boat Is in Storage?

Skipping boat insurance during storage might seem like an easy way to cut costs, but the financial exposure you take on can outweigh any short-term savings. Theft, storm damage and third-party liability claims don’t take a season off, and an uninsured loss could cost you far more than months of premium payments.

Below are some risks and considerations to help you make an informed decision.

Risks of Storing Your Boat

A docked or stored boat can still be exposed to loss and damage in ways that may catch many owners off guard. Common storage risks include:

• Fire at a marina or storage facility
• Theft of the vessel or onboard equipment
• Vandalism
• Wind and hail damage
• Water damage from flooding or roof leaks in a storage building

Benefits of Maintaining Boat Insurance During Storage

Keeping a dedicated boat policy active through the off-season can cover theft, weather events and accidental damage, and it may include liability coverage depending on your policy terms. Some insurers may also offer reduced premiums during storage periods, as well as a layup provision that suspends coverage during months when the boat is not in use.

What Texas Boat Owners Should Consider

Texas weather can be unpredictable.  Review your coverage limits before storing your boat, confirm where your vessel will be kept, and verify whether your current policy covers that location. Note that while Texas does not legally require boat insurance, some lenders, marinas or storage facilities may require you to carry coverage regardless of whether your boat is in use.

Storing your boat does not eliminate the risks; it changes them. Contact The Matthews Insurance Group to review your current coverage and request a personalized quote.

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.