You are finally doing it; you’re realizing your dream and making the move from sticks-and-bricks to hull-and-deck living. Even if you have years of operating a boat for leisure, there are a few unique issues involved when deciding to make your boat your dwelling. Liveaboard boat insurance cost considerations are an important factor for people who choose to live either full time or for a significant portion of the year on their vessel.
The Impacts of Travel on Coverage
The extent you intend to travel plays a role in the types and levels of coverage you will need. For instance, staying docked for much of the year has a different risk profile than being out in open waters for long stretches of time. For those who opt to live and travel seasonally, it is important to acquire a policy that provides appropriate coverage for the times you are aboard versus onshore.
The Impacts of Location on Coverage
Another important element in determining policy costs is location. If you plan to stay in warmer climates year-round, you will not run into the same weather exposures and vulnerabilities experienced in cold weather climates. Likewise, additional protections will be needed if you intend to travel in international waters and dock in foreign countries.
Living aboard your boat can be an amazing experience, providing you with plenty of adventure while reducing your cost-of-living expenses. Making the right insurance decisions ensures you are adequately protected when you move aboard and allows you to live your dream.