Global Marine Insurance : Hurricane Plan

Did you know that some insurance companies will reduce their storm deductible from 10% to as low as 5%, or even 3%, if you implement a hurricane plan and save your boat from damage? 10% of your boat’s value as a deductible is a big number, so it pays to risk manage your storm exposure.

So what is a hurricane plan? Well, it should be unique to the type of boat, its location and the severity of the forecast. But here are some general guidelines you can follow to help save your boat from damage:

1. If it is practical to get your boat out of the water and moved to higher ground, you should do so. Rain and wind will still be an issue, so remove all equipment and store in a safe place.

2. “Hurricane Clubs” provide a good solution if provided by a reputable marina with the facilities to haul, tie down securely and seal your boat. Many provide up to three haul outs per season for reasonable fees. If you store your boat in a stack storage building, make sure the building is hurricane rated. Many are not, and it could be better to have the boat outside on the hard tied down.