If having fun on the water appeals to you, then you might find yourself in the market to buy a boat. You could purchase a boat for fishing, speed boating or sailing, or a pontoon to float around casually. Just as you insure your car and your home, it's a good idea to get adequate insurance coverage for your boat.
As you research your options for boat insurance, you might have some questions about the cost, what kind of coverage you should purchase, and what insurance company carries the best policies for your dollar. An independent agent in the Trusted Choice® network can help answer your insurance questions and get you on the right track for saving on your boat policy. Contact an independent agent today to get started.
On average, boat insurance costs a few hundred dollars, though it can run over $1,000 per year, depending on the type of boat and your personal profile. The type of boat, its length, and the expected use of the boat will largely dictate your boat insurance rates. Whether you have a speed boat, a small fishing boat or a yacht will make a big difference in what you pay.
In general, boat insurance costs typically range from $300 to $500, on average.
A number of factors, some in your control and some not, can have an impact on your boat insurance rates. For example, if you sail on a lake that has a high rate of claims, the cost of your coverage will be higher than in a lake where there are far fewer claims.
Additional factors that affect your boat insurance rates, include:
If you are in the market for a boat, it is a good idea to consider shopping for insurance first before signing your boat purchase paperwork. Insurance rates can vary, so you may want to factor in the cost of your coverage as you determine which boat you can reasonably afford.
Try narrowing your purchase choices down to two or three boats and take information about the boats’ specifications to a local agent in the Trusted Choice network. Your agent will get quotes from several insurance companies for you on your potential purchases. You can then determine for yourself which boat will ultimately be better for your needs and budget.
A Trusted Choice member agent in your area can help you evaluate boat insurance rates and options so you can enjoy the water and have peace of mind. If you’re thinking about getting a boat, contact a local member agent today and get the vital information you need for your best protection.