With the arrival of warmer temperatures, Wisconsinites begin to make weekend trips to enjoy the many lakes and rivers our state has to offer. But in all of their preparations, boaters often overlook reviewing their boating insurance because they assume they are covered.

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Boat insurance is only required if a boat is 24 feet or longer. It is recommended to have coverage on any size boat.

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Boat insurance covers you anywhere you go boating in the continental U.S. Some policies only cover the boat when it is on the waters it is most frequently used or limit coverage to within 100 nautical miles of a home port.

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Your boat will be covered if you store it outside. Most policies say it has to be fully

Many claims situations are not covered by standard homeowners policy endorsements such as: lost or stolen fishing equipment or personal belongings or your boat is destroyed and the wreckage needs to be removed..

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Drinking and boating penalties are less than drinking and driving. The penalties for drinking and boating are just as stiff as they are for drinking and driving.

To ensure that your boat is properly covered, review your coverage with your professional independent agent.

• more than half of homeowners polled think damage from a break in the water line on their property supplying their home is covered

•over a third of home owners think sewer-line breaks, earthquakes and mold are covered, and

•over 30 percent think damage from termites or other infestation is covered.

“It is important for homeowners to fully understand the policy they are buying,” says Cindy Steinbach, Mayville Insurance Agency. “Typical exclusions from homeowners policies include earth movement, water damage, neglect, war, nuclear action and mold. If you aren’t sure if you are covered in a specific scenario, explain it to your professional independent agent. They will be able to tell you whether or not you are covered.”

Steinbach continues, “A typical homeowners policy will cover fire, theft, liability, vandalism and smoke damage. Damage from some natural disasters like windstorms, hail, and lightning also may be covered. With the summer storm season approaching, this is a great time to review your policy with your professional independent agent. They can help you determine whether or not your current level of coverage is adequate.”

Think you don’t need flood insurance? Recent weather conditions have forced many Wisconsin home owners to reevaluate that question.

Floods and flash floods happen in all 50 states and nearly everyone lives in a potential flood zone. Every year, flooding causes more than $2.4 billion of property damage in the U.S. Nationally, homeowners have a 26 percent chance of flood damage over a 30-year period versus only a 9 percent chance of damage due to fire.

“Only an inch of water can cause costly damage to your property,” says Cindy Steinbach, Mayville Insurance Agency. “Basic home owners’ policies do not cover flood damage, so a federal government backed flood insurance policy is needed.”

“The large amount of rain Wisconsin has received lately has caused flooding, which can lead to sewer back-ups,” says Steinbach. “Sewer back-ups are typically not covered or covered on a limited basis under your homeowner’s policy. Purchasing flood insurance should protect you if a sewer were to back-up due to flooding. Review your policy with your professional independent agent to ensure that you have the right type and amount of coverage for your situation.”

In order to purchase flood insurance, your community must participate in the National Flood Insurance Program (NFIP). A $100,000 flood insurance premium is roughly $400 a year. If you live in a low to moderate risk area, your premium may be even lower. Last year, one-third of all claims paid by the National Flood Insurance Program (NFIP) were for policies in low-risk communities.

“If you live on a coastline, flood plain, etc., you may not qualify for federally subsidized insurance and if you do, your rates will be substantially higher,” says Steinbach. “In this case, should a flood occur, your only option may be federal disaster assistance in the form of a loan that has to be paid back with interest.”

Land development can increase flood risk if construction has altered natural runoff paths. Areas that have not flooded before may be susceptible if surrounding land becomes developed.

If you are building or renovating a home in a floodplain, be sure to elevate the furnace, water heater, and electric panel. Also, install “check valves” in sewer traps to prevent flood water from backing up into the drains of your home.

“Flood policies typically take 30 days to take effect, so be prepared before the floodwaters start to rise,” says Steinbach. “Contact your professional independent insurance agent to discuss adding flood insurance on your home.”

Frequently Asked Questions Coming Soon