Saving Money on Boat Insurance
When shopping for boat insurance, we all want to be properly protected by a reputable boat insurance company. But, we also want to get it for a fair price.
Here's a handy list of ways to save money:
· Take a boating safety course. Most companies offer discounts for qualified courses.
· Start small and grow into larger vessels as your experience increases.
· Maintain a good, clean motor vehicle driving record. Many boat insurance carriers check driving records as a part of their underwriting process.
· When choosing deductibles, pick as high a deductible as you are comfortable with. A higher deductible will save a considerable sum. This also leads to the next suggestion.
· Don't put in small petty claims you can afford to take care of yourself. In the long run, you will save. Always report the incident, but you will have the option of withdrawing those small, first party, physical damage claims.
· Ask if your company offers discounts for laying your boat up out of season. Coverage is still provided for on land storage and trailering, but as long as your boat is laid up and out of commission, significant discounts are available.
· Navigation territory; If you navigate your boat in a limited territory, such as inland lakes and waterways, or the confines of Chesapeake Bay, or Long Island Sound, let your underwriter know. You could save a bundle.
· Buy what you need. Don't "over insure" the value of your boat.
· Multi-Unit discount. If you have more than one vessel, get a quote for both with the same carrier.
· Age and occupation. There are some things you are stuck with, like your age and occupation, but make sure to tell your underwriter the age and occupation of the operators. Some offer discounts for active duty military, pilots, and other professions/occupations which enhance boating safety and experience.
· Web discounts. If you have a boat insurance broker, utilize their boating insurance expertise.
If you don't, see if dealing directly online saves you anything.
When shopping for boat insurance, we all want to be properly protected by a reputable boat insurance company. But, we also want to get it for a fair price.
Here's a handy list of ways to save money:
· Take a boating safety course. Most companies offer discounts for qualified courses.
· Start small and grow into larger vessels as your experience increases.
· Maintain a good, clean motor vehicle driving record. Many boat insurance carriers check driving records as a part of their underwriting process.
· When choosing deductibles, pick as high a deductible as you are comfortable with. A higher deductible will save a considerable sum. This also leads to the next suggestion.
· Don't put in small petty claims you can afford to take care of yourself. In the long run, you will save. Always report the incident, but you will have the option of withdrawing those small, first party, physical damage claims.
· Ask if your company offers discounts for laying your boat up out of season. Coverage is still provided for on land storage and trailering, but as long as your boat is laid up and out of commission, significant discounts are available.
· Navigation territory; If you navigate your boat in a limited territory, such as inland lakes and waterways, or the confines of Chesapeake Bay, or Long Island Sound, let your underwriter know. You could save a bundle.
· Buy what you need. Don't "over insure" the value of your boat.
· Multi-Unit discount. If you have more than one vessel, get a quote for both with the same carrier.
· Age and occupation. There are some things you are stuck with, like your age and occupation, but make sure to tell your underwriter the age and occupation of the operators. Some offer discounts for active duty military, pilots, and other professions/occupations which enhance boating safety and experience.
· Web discounts. If you have a boat insurance broker, utilize their boating insurance expertise.
If you don't, see if dealing directly online saves you anything.
