I just got my first bass boat about 2 months ago and I have all my lures and tackle stored in the compartments in the boat, and as of right now the boat isn't covered and is exposed to rain. I am worried about the lures rusting since the compartments are 100% waterproof. Most of my lures are stored in plastic trays but my spinnerbaits are not in a box of any sort. They are stored on a rack on the bottom side of the compartment lid. I know they make products to prevent rust, (cant think of the name) like the ones you put in safes. You guys think that buying something like this is necessary or should I not worry?

I have a 1996 Stratos 258V that stays tied to a wharf 80% of the time and what I do is during midday I'll open all storage compartments letting them air and dry out.

Direct rainfall isn't the only source of contact with water. A heavy dew (condensation), humidity and evaporation of water that has collected in bottom of the boat can rust lures. So you ought to take your lures out if this likelyhood is high. Or, as Catt suggests, make sure you air things out sufficiently.

I wouldn't spray chemicals or petroleum based products of any kind which might repel the fish or react with soft plastics, paint, etc.

moisture is what causes the rust. If you let the compartments stay dry and aired out from time to time they should be fine

Yes sir, you should be worried about your gear rusting, rust to gear is like cancer to you.

Can just about bet it will rust if left in there for long periods and you have no way to vent the storage compartment.  Morning sun is going to cause condensation on the underside of the lids and then the warmer sun is going to cause it raise the humidity to approx 100% inside the box.  This makes a great rust generator, been there, done that.  

I leave mine in my storage boxes but having learned my lesson the hard way, the boat is covered when not in use, I keep a small vent blower blowing air under the cover and use my marker bouys to prop all compartment lids open before I cover it.  

I ALWAYS unload the boat after every trip! All my gear stays inside all the time. Even though i have a heavy duty tarp over the boat.

Why not go to WalMart, spend $40 for a tarp and keep the boat covered?   :