For residents of Hollywood and throughout Broward County, owning a boat or an RV is the key to unlocking the South Florida lifestyle. The boat promises weekend escapes on the Intracoastal Waterway, and the RV offers the freedom of the open road for a summer retreat. However, as the peak usage season winds down, your approach to insurance must change. When these valuable assets move from active use to long-term storage, the risk profile shifts dramatically, and so should your coverage.
At Finney Insurance Corporation, we are experts in navigating the unique insurance needs of South Florida’s recreational vehicles. The off-season is a crucial time not for dropping coverage, but for adjusting it smartly. A minor oversight can turn a safe storage period into a major financial loss. We’re here to ensure your prized “toys” are fully protected, whether they’re parked or laid up.
- The Off-Season Risk: Theft, Fire, and the "Florida Premium"
- Smart Savings: The "Lay-Up" and "Storage" Insurance Discounts
- Beyond the Policy: Essential Off-Season Protection Checklist
- FAQs About Off-Season Boat and RV Insurance
- Finney Insurance: Protecting Your Freedom
The Off-Season Risk: Theft, Fire, and the “Florida Premium”
While hurricane season is often the primary concern, the off-season poses specific, ongoing threats that demand specialized insurance attention.
1. Theft of Boats and RVs
Florida consistently leads the nation in watercraft theft. According to the National Insurance Crime Bureau (NICB), Florida typically accounts for over 20% of all watercraft thefts in the U.S., with hundreds of vessels stolen annually. The vast majority of these stolen boats are under 26 feet and are often taken while on their trailers from driveways, parking lots, or storage facilities. For RVs and trailers, the risk is similar:
- Vulnerability in Storage: When a vessel or RV is stored and unattended for an extended period, it becomes an easier target.
- High-Value Components: Thieves often target high-value components, such as engines, outboards, and marine electronics, which are easily stripped and resold.
- The Broward County Connection: Data shows that areas like Broward County and Fort Lauderdale are often among the top counties for watercraft thefts in Florida, underscoring the local risk. [Source: National Insurance Crime Bureau]
2. Fire and Vandalism
Whether stored indoors or outdoors, both boats and RVs remain vulnerable to fire, vandalism, and other perils. A fire in a storage facility, a mechanical failure that sparks a fire while winterizing a boat, or simple vandalism are all risks that are covered under Comprehensive Coverage—a necessity you should never suspend.
3. Maintenance and Mold
While not an insurable peril, neglecting proper storage preparation can lead to claims being denied. Insurance policies do not cover damage from wear and tear, corrosion, or mold; these are considered maintenance issues. Proper winterization and dehumidification are vital for maintaining coverage validity.
Smart Savings: The “Lay-Up” and “Storage” Insurance Discounts
For most of the country, the off-season means freezing temperatures and a “lay-up” period where boats are pulled out of the water and winterized. While we don’t worry about freezing in South Florida, the principle of reducing risk by storing the asset applies, and your insurer rewards this safety.
🛥️ Boat Insurance: The Lay-Up Credit
For larger vessels (often over 26 feet), many marine insurance policies offer a Lay-Up Warranty or Credit.
- What it is: This provides a premium discount for a specified period (e.g., three to six consecutive months) when the boat is out of commission and safely stored.
- Key Requirement: The boat must not be used for navigation, and there are often restrictions on living aboard during this period.
- The Benefit: You save money while retaining full Comprehensive coverage for risks like fire, theft, and named storms. You effectively maintain protection for the hull, contents, and machinery without paying the full premium for liability and in-water operation.
🚌 RV Insurance: The Storage Option
RV insurance carriers recognize that an RV parked for months poses a much lower risk than one on the highway.
- The Storage Discount: Many specialized RV insurers offer a Storage Option or Storage Savings Discount, which can significantly reduce your premium. Some carriers offer discounts of up to 53% while the vehicle is in storage. [Source: Progressive, National General]
- Suspension of Coverage: The most critical decision is whether to suspend Collision and Liability Coverage entirely.
- NEVER Suspend Comprehensive: You must maintain Comprehensive coverage to protect the RV from fire, theft, vandalism, and hail while it is parked.
- The Liability Decision: While suspending liability saves money, it means you have no protection if someone is injured on or around your RV while it’s in storage or if your motorhome causes damage while starting the engine. Most experts recommend keeping at least a minimum level of liability and Comprehensive coverage.
Beyond the Policy: Essential Off-Season Protection Checklist
Insurance is your financial safety net, but prevention is your first line of defense. Taking these proactive steps will not only protect your asset but may also qualify you for further insurance discounts.
| Asset Type | Storage/Lay-Up Checklist | Insurance Implication |
| Boat | Remove Valuables: Take off electronics, fishing gear, and expensive safety equipment. | Reduces the value of potential contents claims. |
| Disconnect Batteries: Prevents fire risk and electrical discharge. | Reduces fire risk and may satisfy insurer’s winterization clauses. | |
| Use Heavy-Duty Locks: Secure the trailer hitch with a wheel lock or coupler lock. | Theft Prevention: May qualify for an anti-theft discount. | |
| RV | Choose Secure Storage: Use a well-lit facility with security fencing and video monitoring. | Security Discount: Carriers often offer a lower rate for secure storage locations. |
| Install Tracking: Install a GPS tracking device. | Anti-Theft Discount: Essential for RVs, which are a major theft target. | |
| Maintain Comprehensive: Even if you suspend collision, keep Comprehensive. | Ensures fire, theft, and vandalism are covered. |
FAQs About Off-Season Boat and RV Insurance
Is a separate boat insurance policy required in Florida?
No, not legally. Florida does not mandate boat insurance. However, if you have a loan, the lender will require it. Most marinas and storage facilities will also require proof of liability insurance with a minimum limit (e.g., $300,000) before you can dock or store your vessel. For high-value boats, a dedicated policy is a practical necessity.
If I suspend my RV’s liability coverage, is it completely unprotected?
No, but it’s risky. Suspending the RV’s primary liability means you are only covered for bodily injury or property damage caused by the RV while it is driving. You must still maintain Homeowners or Umbrella Liability to cover people injured on your property where the RV is stored. For example, if your RV falls off its jacks and injures a neighbor helping you, the RV’s liability would not apply if suspended.
Will my homeowners policy cover my boat or RV while it’s in storage?
Very minimally. A standard homeowners policy might offer a tiny limit (e.g., $1,000 or 10% of your contents limit) for a small boat or its personal property, but this is nowhere near enough to cover the vessel’s hull or a full-sized RV. Homeowners insurance should never be relied upon to protect these assets.
What is an “Agreed Value” policy, and why is it better for my RV or Boat?
An Agreed Value policy pays the fixed, agreed-upon amount listed on your policy for a total loss, with no deduction for depreciation. This is generally superior to an Actual Cash Value policy, which factors in depreciation and will pay out significantly less for an older vessel or RV. Agreed Value ensures you have the funds to replace your toy with a comparable model.
Finney Insurance: Protecting Your Freedom
The South Florida off-season is a time for maintenance, preparation, and smart planning. Don’t let a lack of understanding turn a minor incident into a major financial headache. Your boat and RV are investments in your freedom and lifestyle.
At Finney Insurance Corporation, we’ll work with you to apply every eligible storage discount, ensure you maintain the critical Comprehensive and Liability coverages, and keep your valuable toys fully protected until the next season of adventure begins.
Contact Finney Insurance Corporation today for a personalized review of your boat and RV policies. We’ll help you save money while locking in maximum protection.
