If you reside in Coppell, Texas and have a boat it is not possible to obtain insurance seasonally for the boat. Boat owners must purchase an annual policy and then when the boat is stored the insurance company will give a discount to the insured on their annual policy amount. The very rough average of cost for boat insurance is about $1,200 per year, with a yearly maintenance fee of about $2,500 per year. When the boat owner decides that it is time to store their boat for the winter months there is an average fee of about $1,200 to winterize the boat for storage to insure proper insurance coverage. This is a very rough figure because there are a lot of variables to consider, such as, how the boat owner wants the policy written up and what they want included in the policy.

An all risk policy covers the boat if there is damage done to the boat. If items are not mentioned in the policy then the insured can safely assume that it is covered. It is more plainly understood when one review what is not covered. The type of policy you buy will denote the rate of the policy.

Exclusions are included in most boat policies such as normal wear on the boat, gradual deterioration of the boat, elements of weather. Marine life, mold, animals, insects are not covered for damage. Some insurance companies include some forms of marine life while other companies do not. Careless wear and tear on the boat such as blistering from the sun, scratches, dents, manufacturer’s error in building of the boat, corrosion, defects by manufacturer, are not covered. While some insurance company’s do cover mechanical loses, other companies do not.

Not all insurance companies are created equal so it does pay to shop around to get the best price and purchase annual insurance coverage for your boat.