Start with a specialist to lay out your options. This may be your own broker, but if your broker is not an expert in boat or jet ski coverage, they can likely steer you to a carrier who does specialize in watercraft insurance. Do your homework and research the reputation of your boat insurance carrier online. For ski boat lovers, check out Planet Nautique, Centurion Crew, and Mastercraft.com/Teamtalk . If you’re a fisherman or just want to cruise, look at Hulltruth.com.
Write down the current value of your boat. Decide on the highest deductible you can afford in the event of a loss, as this will help keep your costs down. Then, make sure you choose a policy that provides “all-risk” coverage on the hull, and your trailer if you have one. Decide what extra options you are looking for. You might consider freeze coverage, consequential losses, a disappearing deductible, or towing (both on and off water). Do you want an Agreed Value Policy or a Depreciating Actual Cash Value Policy? There are many factors to consider when picking which coverage options are right for you.
Make sure your insurance company understands where you navigate your boat and how you use it. In other words, are you a fisherman using it in tournaments? If you fish off-shore, how far off-shore do you navigate? Are you a water skier? Do you ever race? Do you let others use it? Are you active at your church or fraternal organization and take people out as a volunteer? All this information will help you obtain the coverage you need at the lowest cost possible.
Now that you have collected this information and identified your coverage preferences, you are ready to contact those reputable carriers and compare prices. This way you can view things apples-to-apples and know exactly what you’re purchasing.
A reputable insurance company should make sure you qualify for any available discounts. If not, ask what discounts are available. Your experience, safe driving record, and age all play into your potential savings.
A little bit of preparation will go a long way finding the best and least expensive customized boat policy for your personal needs.
Make sure you check in with us at SkiSafe Boat Insurance as you do your shopping. Get a free quote online today and let us help you find the right coverage for your boat without breaking your budget.