NH Insurance Policies: Is Winter Boat Coverage Necessary?

September 1, 2022

When it comes to insurance coverage there are a few givens that most people never question carrying. Auto insurance and home insurance, for example, are two types of coverage that those who fall within the category purchase. However, when it comes to NH insurance policies, there are several other areas of coverage that people often find themselves considering. From commercial insurance to boat insurance, understanding what is necessary and why is imperative.

With the summer season coming to an end, our team from Brownell Insurance Center believes now is a great time to address one of the most commonly heard questions.

Do I need to insure my boat during the winter when I am not using it?

Like NH auto insurance, the state is one of the few that does not require boat owners to maintain insurance. Of course, if there is a lien against the watercraft, chances are the lender has provisions requiring that you do maintain coverage. With this in mind, it is also important to understand the provisions in place. Often, lenders require full coverage until your debt is paid in full. This stipulation remains in place year round, regardless of the season. However, some lenders may require that you maintain liability coverage only, or change what it is needed dependent on the season. Be sure to know what is required of you by your lender at the time of closing.

What if I own my boat outright?

Without a third party involved in the scenario, more often than not, obtaining NH insurance policies becomes a choice of the owner. We say more often than not because where you use your watercraft can also determine the answer to this questions. Some state owned areas and private communities require the vessel be insured before entering the water.

Others, however, do not. If you find yourself in this situation, knowing the benefits of maintaining boat insurance enable you to make the best, most informed decision for yourself and budget. Like vehicle coverage, boat insurance provides options like liability, collision, and comprehensive coverage. Depending on whether you assess the coverage amount by actual or agreed on value, policies vary in amounts and the protection they offer should the need arise. Below is a brief overview of some of the most common protections available with NH boat insurance policies:

Property Liability
Collision Damage
Bodily Injury
Hull Coverage
Fuel Spills

NH Insurance Policies with Brownell Insurance Center

When it comes to boat insurance, our team always recommends at least the minimum – even during storage season. Your boat is an investment and accidents happen. Whether from an ice storm or accident on the water, knowing that you are protected brings peace of mind.