With an enjoyable 2023 boating season already well underway in southern latitudes and now launching into full swing for the rest of us, this means the start of hurricane season for 2023 is also just around the corner beginning on June 1st. And during the summer months in the Northern Hemisphere if the palm fronds in your marina are waving and the evening air is balmy, you are likely in the hurricane latitudes which means enjoy boating - but also be on watch and have a plan – a good plan to protect your boat and your pastime! As a boat owner, executing an effective hurricane preparedness plan can help mitigate potential damage to your boat saving you and your insurance company money, saving you stress, and reducing the potential for damage caused by your boat to docks, neighboring boats, and pollution in local waterways.
Additionally, many yacht insurance policies include warranties (promises by you) that need to be strictly adhered to for Named Windstorm Coverage to apply. It is imperative you have read your policy and are familiar with those warranties to avoid a coverage dispute with your insurance company. Novamar staff members are happy to review your policy with you, and remember – it’s not just the boat coverage that you are at risk for in the event of an uncovered claim, as a boat owner you are also at risk for expenses incurred in salvage / wreck removal, environmental and pollution clean-up costs & possibly third party damage costs to property damaged by your vessel such as marina infrastructure, environmental areas, other boats or homes/buildings all of which can add hundreds of thousands of dollars in additional expense for which you can he held responsible.
To assist in avoiding some of the above exposure areas, here are some general precautionary measures you may put into place to prepare a boat kept in any storm prone areas. A good hurricane preparedness plan can consist of:
Hauled Out Ashore - Statistically speaking, hauling your boat out of the water is your safest option.
Trailered & Lifts
Your insurance policy may include a storm haul-out reimbursement benefit or similarly named shared expense coverage provision for services that you employ to protect your property from an impending named storm such as hauling the boat out of the water or moving it to a safe location. Please review your insurance policy for further information.
To file a hurricane haul out reimbursement claim, please forward a copy of the invoice for haul out services, and include the policy holder’s name and policy number. Email to:firstname.lastname@example.org