When you’re shopping for boat insurance, you want the right protection at a fair price and you also want insurance from a reputable agent. Before you shop, do your homework so you can get the most appropriate coverage for the most competitive price. Here are a few things you should know in order to save money on your boat insurance.
Do Your Homework
Know what you will need as far as coverage. Going into the process knowing exactly how and where you will use your boat and what kind of deductibles you want will ensure you won’t be paying for coverage you don’t need. As is the case with most insurances, the higher your deductible, the less the premium. Consider what your risk tolerance is. If you don’t know, your agent can help.
Discounts
The same is true for claims. If you are tolerant of small losses and want to maintain coverage for those large losses, you can earn a loss free discount if you can go without filing a claim for three years. If your situation warrants, there are also mutli-craft discounts for those owners that have more than one boat. Lay-up discounts are for those owners who put their boat in seasonal storage each year. If you only operate your boat in a limited territory, then a navigable waters discount may save you money. As boat insurance is very customizable, discounts are available for a variety of differing situations.
Know Your Boat
Don’t over insure your boat. Know what the market value of your boat is so you don’t pay for extra coverage. If it’s over ten years old, you will want to have a survey done to ascertain the current value of the boat. Many insurance companies will require a survey taken within thirty days to ensure the appropriate coverage is being quoted. Upgrading your boat’s safety gear will help avoid losses and may equate to lower insurance premiums.
Be A Safe Boater – And Driver!
A boating safety course can yield a discount on boat insurance. But so can a spotless motor vehicle record. Insurance companies feel that if you are a safe driver, you will be a safe boater as well. Insurance companies take your experience into account so the more you are a safe and experienced boater, the more you are rewarded in boat insurance premiums.
Find An Expert
Find an agent that specializes in boat insurance. A good boat insurance agent will customize a policy to fit your needs. At InsureAnyBoat.com, we are your boat insurance experts. We will always recommend the best insurance coverage for your individual needs.
Call 1-800-585-1665 today to request a quote from InsureAnyBoat.com