When shopping for boat insurance, you want proper protection from a reputable company that will provide adequate coverage in the event of an accident. An important factor for most boaters is getting quality insurance at a fair price. Finding marine insurance at a good price tag involves a generous amount of online research and choosing a company that knows boats as well as you do.
There are a few tricks that we’d love to share to help keep down the cost of your boat insurance.
How to Save on Boat Insurance:
Boating Safety Course
Your insurance company should offer a discount for completing a qualified safety course. This is also a great way to learn some of the basic safety boating tips.
Clean Driving Record
It goes without saying that a spotless MVR helps you save on car insurance. The same rule goes for boating insurance. If you play by the rules on the road you are likely to do so on the water as well.
Grow into Larger Boats
If your first boat is a 38-foot cruiser you might encounter some sticker shock when it’s time to insure your new vessel. Good boat insurance companies will want to see you start small and increase the size of your vessel as you gain experience. This is a great way to maximize the credit you receive for your boating history. Of course, with extensive training you can probably jump right in with a larger boat, but make sure you have sufficient hours with a captain!
The higher a deductible you choose, the less insurance will cost. This is always the case and boat insurance is no exception. Determine how much of the risk of a loss you are willing to accept and select the appropriate deductible. If it is not clear, ask your boat insurance company to walk you through some examples to find the right deductible for you.
Avoid Small Claims
You wouldn’t go to the doctor for a paper cut or bruise. Look at your boat the same way. You want your insurance to remain affordable in case of a big accident. If you put in a claim for a missing fishing rod or water ski, you will lose your loss-free discount and pay more for your boat insurance every other year.
Visit SkiSafe Insurance today and see how much you can save on boat insurance.