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Boat Storage Agreements

Boat Storage Agreements: What You Need to Know

Boats are a significant investment, and as a boat owner, you want to ensure that your vessel is always in tip-top shape. When it comes to storing your boat, a boat storage agreement is essential.

A boat storage agreement is a contract between a boat owner and a storage facility that outlines the terms and conditions of storing the boat on the facility`s premises. It is important to understand the key elements of a boat storage agreement to ensure that you are getting the best deal and protecting your investment.

Below are some of the critical aspects that you should consider before signing a boat storage agreement.

Indemnity and Insurance

Indemnity refers to the clause in a boat storage agreement that outlines who will be responsible for any loss or damage incurred during storage. The storage facility will typically have insurance that covers both the property and the boats stored on their premises. However, it is essential to clarify what the insurance covers and how much it covers. It is also advisable to ensure that your boat is insured separately to cover any gaps that the storage facility`s insurance may not cover.

Storage Rates

Storage rates are a key consideration when it comes to boat storage agreements. These rates may vary from one storage facility to the next, depending on the location, size, and the type of storage services offered. It is essential to understand the rates and ensure that they fit within your budget. You may also want to compare the rates of different storage facilities to get the best deal.

Storage Conditions

The storage conditions of the facility are also essential. You need to ensure that the storage conditions are suitable for your boat. A storage facility that offers indoor storage will protect your boat from the elements, while outdoor storage may expose your boat to the elements. It is essential to inspect the storage facility before signing the agreement to ensure that the conditions are suitable for your boat.

Access and Security

Access and security are other key elements of boat storage agreements. You need to know when you can access your boat and what security measures are in place to protect your vessel. Some facilities may have restricted access, while others may offer 24/7 access. It is essential to clarify these terms to ensure that they suit your needs and preferences.

Conclusion

In conclusion, a boat storage agreement is crucial for anyone who owns a boat. It outlines the terms and conditions of storing your boat and protects your investment. When signing a boat storage agreement, it is essential to consider the indemnity and insurance, storage rates, storage conditions, access, and security. By doing so, you can ensure that your boat is safe and secure while being stored on the storage facility`s premises.

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