WASHINGTON, D.C., June 27, 2012 – Even boat owners with the most ardent hurricane preparedness plans are at risk this hurricane season. A small category 1 hurricane can have a devastating effect on a boat, costing thousands of dollars in damages. GEICO encourages boat owners to review their insurance coverage to ensure they have sufficient hurricane protection in place.
“It’s important that boat owners understand the details of their hurricane coverage before a storm approaches,” said Eric Baillargeon, GEICO Insurance Agency boat program manager. “Coverage options such as haul-out protection can go a long way to protecting your investment and bringing you peace of mind.”
Hurricane haul-out protection typically reimburses boat owners a percentage of the cost to move a boat to a safe location when a hurricane watch or warning is issued. Some insurance carriers will also cover expenses such as storage or mooring fees, strapping down and re-launching the boat in calmer waters once the storm has passed.
“It’s much more cost-effective to move a boat to a secure area than to risk facing a dangerous hurricane,” said Baillargeon. “Haul-out protection saves a tremendous amount of money against having a boat potentially damaged or lost because of a storm.”
Insurance carriers may not write new policies during a storm or until a hurricane watch has ended. Some policies contain location restrictions associated with properly securing a boat. Check your policy for details and to see if you are eligible for hurricane haul-out reimbursement. Coverage availability and limits are subject to the policy terms and conditions. If your boat is damaged during a hurricane, please call 1-800-841-3005 for assistance.
For more information, please visit www.geico.com/information/aboutinsurance/boat/.
GEICO Insurance Agency can help you with protection against risks such as natural disasters, personal injury, theft, accidents, property damage, vandalism and liability, featuring competitive rates, online quoting, multi-policy discounts and multiple pay plan options. Coverage and policy option availability are subject to the terms and conditions of the policy. For more information on boating, go to www.geico.com/information/aboutinsurance/boat/.
The above is meant as general information and as general policy descriptions to help you understand the different types of boat coverages. These descriptions do not refer to any specific contract of insurance and they do not modify any definitions expressly stated in any contracts of insurance. We encourage you to speak to your insurance representative and to read your policy contract to understand your coverages. Boat coverages are written through non-affiliated insurance companies and are secured through the GEICO Insurance Agency, Inc.