Storage Only Boat Insurance.

[unbusted67]

A while back I stored a boat for a full year and was able to drop my insurance down to bare minimum. Now every insurer I speak to has no clue what i’m talking about and wants to sell me a full policy (no I will not be racing my boat, no i won’t be the only one operating it because no one will be operating it!!!). Anyone have any experience with this? Can anyone recommend what I would call “Mothball” insurance?

[john61ct]

Talk to non-marine property agents, rider on homeowner's policy? Possibly even renter's insurance.

[unbusted67]

Anyone else have any input on this. It seems like liability only is common but not hull only

[belizesailor]

Originally Posted by unbusted67

Anyone else have any input on this. It seems like liability only is common but not hull only

Liability only is common because many marinas require it. Ive never encountered hull only or layup insurance for boats (RV's and cars yes, boats no).

[S/V Illusion]

Not an uncommon question. Lots of people selling boats stored on the hard while for sale or other reasons lower their premiums by converting their full coverage policy to lay-up status. If your underwriter doesn’t offer it or your agent is unaware of this option, you need to find a better agent.

[Paul L]

Shop around for a Port Risk policy.

[unbusted67]

Originally Posted by Paul L

Shop around for a Port Risk policy.

This was the key. Thank you. I Spoke with an agent about this. He clued me in that Port Risk Policies are generally a red flag to insurers because it screams derelict boat. He then pointed me to a Builder’s Risk policy which is good for people doing refits when they then to insure the vessel for what it will be worth at then end of the project.