Before taking to the water this boating season, it’s important to ensure that you have the right boat insurance coverage. For instance, you should focus on the right amount of liability and property damage coverage. Ironically, many individuals trust their insurance agents and never give a second thought to the rates that they are quoted. They make the false assumption that their agent gave them the best rate possible. Unfortunately, this isn’t always the case, as you can well imagine.
There are a number of ways that you can save on your policy premium rates, such as being eligible for certain discounts. With the right combination of discounts you could significantly reduce your premium and have more money to spend on gasoline and other necessities. Here are four important discounts you could be eligible for:
Bundle multiple policies – bundling multiple polices with the same company can save you a significant amount of money overall on all of them. In fact some companies will give discounts of up to 20% when you bundle all of your other insurance policies with your boat insurance. If you have insured your vehicle, home, and boat separately, talk to your agent about a discount for bundling them all together. The amount of money you save may come as a very pleasant surprise.
Enroll in a boater safety class – most companies offer discounts for those individuals who have taken boater safety classes. However, you should verify that with your agent before enrolling to see if they offer that particular discount. Naturally, you should ask if there are boater safety classes available where you live. The average discount or savings is 5% for having taken one of these classes. If you do find a class that is close to where you live, check with your agent to make sure that it is an approved class.
Incorporate approved safety features – Safety features on a vehicle lower the cost of auto insurance and the same holds true with boat insurance. Wireless auto tethers are a good example of safety features because they kill the engine if one of the passengers falls into the water. If you already have some safety features in place, you should let your agent know about them if you haven’t already done so.
Pay your policy in full – Check with your insurance company to see if you could be eligible for a discount by paying your premium in full up front rather than monthly or quarterly. This eliminates any risk for your insurer as to whether or not you will make your premium payments as agreed upon. Some companies offer a discount of up to 10% when you pay for your boat insurance in full. Thus, you look at your budget and plan accordingly. It helps to save more and get a higher amount of coverage.
Call 1-800-585-1665 today to request a quote from InsureAnyBoat.com.