Insurance And Moorage Services: Why You Should Purchase Both Your Own Boat Insurance and Moorage Insurance

As a boat owner, you already carry a lot of insurance on your boat to protect it against theft, vandalism and acts of God. However, if you use moorage services at home or abroad, you might be wondering why a moorage service would offer you additional coverage while your boat is moored in dry dock or in a marina. There are several reasons for this, and all of them are excellent reasons for you to invest in the additional moorage service's insurance.

Boathouse Fires

Your private boat owner's insurance probably does cover fire, but often it only covers a fire when your boat is in your possession or stored on your own property. If you use a moorage service that puts your boat in dry dock during the most frigid months of the year and a dock fire breaks out, your boat is not covered. Instead, the moorage service recoups its losses, and any renters that bought the moorage insurance will recoup their losses too. For the little bit you pay every month to put your boat in dry dock close to the water and protect it against an unexpected event (like a dock fire!) it is worth the added security.

Protection Against Damages During Retrieval or Haul In/Out Services

Sometimes a boat can capsize or get hit while the moorage service attendant is retrieving the boat for you from the outbound marina (moorage that is located away from the docks and further out into the water). While most of retrieval attendants (think of them as boat valets) are well-trained and can maneuver a boat, accidents happen. Unfortunately, your boat owner's insurance does not cover this non-familial driver, but the extra insurance offered by the moorage service does. If you take the extra insurance from the moorage service and anything were to happen to your boat while it is driven or hauled in by the attendants, the moorage service and/or their policy company covers the damages.

Protection Against Loss of Moorage Use and/or Space

This may be included with the extra insurance or it may be an addendum to your contract. Usually, for a few extra dollars every month, the moorage service guarantees that you have a moorage space and that you can use it. It keeps non-registered boat owners from parking their boats in your space and helps remove the unauthorized occupants so you can moor your boat at the end of the day or night. It provides peace of mind knowing that your boat always has a place to dock in the marina (like South Park Marina) and/or a place in dry dock storage.