Is Your Lake Life Insured Properly?
Are lake days calling your name? Just thinking about getting your boat in the water and relaxing at the lake house is so exciting. One thing that might not have occurred to you is what kind of insurance you need to help you relax into your lake life. Below are a few questions with answers that might help.
Should I have a private dock or public dock?
First, let’s break down the difference between the two docks:
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Private dock: your own private dock is typically covered under a homeowners insurance policy. This will be classified as an “other structure or personal property.” If your dock is considered an “other structure,” then any damages to the dock from a covered peril may be covered on your homeowners policy. However, if the dock can be removed after boating season, some insurance companies might consider the dock to be “personal property,” which will cover damages up to your policy’s limit.
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Public dock: The marina that you decide to rent a dock at is responsible for insuring the docks. This typically won’t be covered under your homeowners insurance.
Whether you decide on a private dock or public dock is completely up to you based on your preferences.
Are seawalls covered by insurance?
Seawalls, which are a wall-like structure made to run parallel to the shoreline to protect erosion of the dry land, are not just important at the beach but also on the lake. They can be your last line of defense against floods caused by storms. Your homeowners policy should contain coverage on seawalls, depending on the cause of loss. Your policy will have more details.
What damages to my dock are not covered by my homeowners insurance?
While it’s easy to know what your dock is covered by, it’s a little more challenging to understand what is not covered. Those damages are:
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Damage caused by freezing, thawing, or the pressure and weight of ice and water, driven by wind or not.
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Damage to your dock caused by a collapse unless the damage is caused by a falling building or parts of the building.
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Damage due to flooding
Should I add umbrella coverage to my lake house?
Whether your lake house is your main residence or not, adding this coverage is very important. Accidents can happen anywhere, but the lake can have an even higher risk of accidents. Bonfires, tubing and riding in golf carts are just a few risky activities that can go wrong at any moment. As the host, you want to make sure you are adequately covered if or when an accident happens. Talk with your insurance provider on how to add this effective and inexpensive coverage to your policy.
Making sure your waterfront property is properly insured can give you a peace of mind to enjoy all the lake things. Call your local Alfa® agent today to discuss your property and watercraft coverage needs!
*All coverages are subject to deductibles and policy limits. This is not an insurance policy. It is intended only to provide a general description of Alfa Insurance® and/or its product lines and services. An actual policy contains the specific details of the coverages, conditions, and exclusions. Your Alfa agent can explain the policy and benefits and answer any questions you may have before you buy.