After Hurricane Andrew in 1992 and Charlie and Frances in 2004, the marine insurance industry lost most of its appetite for boat, dealer and marina coverage in hurricane-prone areas. We are marine insurance experts, and insure boats worldwide – in every ocean on the planet. Have insurance through BoatUS? About Mariners Insurance. Ten percent of your boat's value as a deductible is a big number so it … Ask your agent for details. Where you boat – As we mentioned, some policies can be less expensive if you can limit the area where you’ll take the boat. Insurance for hurricane coverage can be expensive. Most yacht policies also include a Hurricane Preparation coverage up to $1,000 which pays to move the boat or prepare it for the storm. Mariners General Insurance Group was founded in 1959 to protect boat owners and marine business clients. It is worth noting that some insurance companies will reduce their storm deductible from 10% to as low as 5%, or even 3%, if you implement your hurricane plan and save the boat from damage. Securing your boat before a loss will also make a difference in your insurance claim. Storm surges can even lift entire floating docks above their pilings or knock boats off their cradles. Protected Waters Checklist (pdf, 45K) Rack Storage Checklist (pdf, 23K) No matter where you store your boat during a hurricane, the following checklists can help you prepare before the storm. I explained we closed the bank account and now had a credit union. That applies to keeping your boat in domestic waters, but it also usually costs less to be insured in freshwater versus salt, and keeping your boat in a hurricane zone can increase your costs, as we’ll discuss next. Marine insurance is critical if you own a boat … Purchased boat insurance and paid in full for the 12 month policy. Depending on the insurance company and structure of your policy, boat insurance may or may not cover hurricane damage. Some policies may require the boat to be out of the water. Protect Your Boat in a Hurricane: Making a Plan (Part I) May 2015. Prepare your boat(s) to ride out the storm and make sure you are financially ready to ride out the storm with proper insurance on your boat(s). Two weeks ago we sold the boat. Here are some things to consider about boat insurance coverage for storm damage. In addition, most named windstorm coverage policies are subject to a higher deductible, anywhere from double to ten percent of the hull value. Companies that implement clear, actionable hurricane preparedness plans help to protect their staff and guests, minimize property damage, make their operations more resilient and … As the hurricane season churns into full swing, it is important to prepare yourself, your family, and your boat for the worst. Read your policy or contact your local agent to learn how your boat may be covered if it's damaged by a storm. Was told there was a refund and it would go to my bank. Download the BoatUS App. The BoatUS mobile app offers hurricane alerts that are refreshed with every NOAA update to the forecast. A plan can save lives and reduce loss or damage to the vessel. Contacted Pantaenius Yacht Insurance to cancel policy. Boat insurance may help pay to repair or replace a boat that is damaged in a hurricane or other type of storm. Normally, there is a 15 percent surcharge over policies that don’t provide coverage for named windstorms. If tropical storms, hurricanes, tornadoes or windstorms are a concern where you live or travel with your boat, ask your agent about storm damage coverage for your watercraft. Powerful winds can scatter boats ashore, and smashing seas can sink or damage them. Many marine policies have high standards and specific regulations about what steps you need to take before a hurricane. If you own a boat, you know how important it is to keep it as safe as possible before, during or after a hurricane. H urricanes can wreak all kinds of havoc on boats. Download the app now or update to the current version and opt-in to push notifications to take advantage of this feature. Boat Protection for Hurricane Season.