Biggest Misconceptions about insurance and winter storage

Figured this would be a good topic given that we're in the "off-season" and the majority of people have their boats in storage for the winter. I want to address some misconceptions that I hear often with respects to winter storage. #1 - "My boat is stored in my garage (in my barn, in a building on my property, on my lift at my dock etc) my homeowner's insurance policy covers my boat...." The harsh reality is that your homeowners policy, no matter how great you think the policy is, doesn't cover your performance boat while it sits on your property or in your building/garages. A standard home policy will cover watercraft up to $1500. For some of you, this doesn't even pay for the steering wheel! The ONLY time an insurance policy would cover a watercraft for storage on the property anywhere, would be if it were specifically endorsed and added to the policy and an additional premium paid for that endorsement. #2 - "My boat is stored at a marina, in a public storage facility. If something happens to my boat, their insurance will cover it..." Sure, it might cover it if the secretary remembered to pay the premium that month or you didn't sign an agreement stating that you would hold them harmless in the event of damage to the boat while it was in their care custody and control. If your boat is stored for th e winter and is on someone else's property or in their Care, custody & control, make sure your insurance policy is in force because there is no guaranteeing that they have the correct coverage or even have coverage to cover the damage that may occur to your boat. #3 - "A lay up on my insurance policy means there is no coverage." This is only partially true. A lay up is a credit that is given on a marine policy that gives you credit for not using the boat on the water during a designated period of time. However, during that designated period of time, the boat is still covered for storage and transit exposures in accordance with the terms of the policy. #4 - "I don't need insurance in the off season, I'm not using my boat." I forgot, damage only occurs to boats from April to September. Roofs don't collapse from too much snowfall, buildings don't burn etc in the winter time OK... enough sarcasm, you get my drift! Carry insurance year round!