This depends on local, state, and federal laws and regulations, the use of the boat, where it is housed, if it is financed, and other factors.

The term "layup" describes the months when your boat is not in use and is kept in a garage, shed, or behind walls, gates, or fences.

You are still protected against fire, theft, and storm damage at the storage facility while in a layup. Laying up also includes when the boat is transported to and from a dealer or service facility or for routine maintenance and servicing.

Each month you choose for layup lowers your insurance price by 5%. Layup can be introduced when obtaining new insurance or renewing an existing policy, but not in the middle of the policy.

When using market value, the payout may be lower than indicated on the schedule. This is so because the sum on the schedule is the maximum payout, but in some cases, all monetary restrictions may be increased for GST. Instead, the amount you receive will depend on the actual value of the boat during loss.

With the agreed value, the payout will depend on what you and XYZ Insurance agree upon; nevertheless, you may be required to submit proof that your proposal is acceptable, such as a value or proof of the purchase price.

You don't have to add the person operating your boat to your coverage as long as they have your permission and a current license.

Notify the waterways authorities and the police. Then call us anytime.