There are many different types of boats out there for personal use. You may have a Bowrider, pontoon boat, fishing boat, or a speed boat that you need to insure against loss, theft, damage and liability.
It may seem a little overwhelming to look for the right boat insurance for your needs, especially if you are looking for deals and discounts to make your coverage more affordable.
One of the best ways to save on your boat insurance costs is to work with an independent agent in our network. These agents have access to policies from multiple companies and can comparison shop for you to find insurance that matches your needs.
With more than 27,000 member agency locations nationwide, there is an independent agent right in your neighborhood. Contact a local agent for personal assistance today.
Top Boat Insurance Discounts
- Multi-line discount for home, auto, travel trailers and so on
- Multi-vehicle discounts for multiple recreational vehicles
- Claims-free discount for those who have never filed an insurance claim
- New business discount for new customers
- Safety boat courses with emergency first aid certification
If you want coverage for damage or loss on your boat, be sure to inquire about the right insurance for you. You may need coverage for your trailer and any contents in the boat such as life jackets, boat covers or after-market additions and upgrades.
The good news is that your boat coverage does not need to be expensive. Smaller boats can be added on to your homeowners insurance in many cases.
If it is a larger boat or one that has high value, you may opt to purchase a seperate policy for it. If you get boat coverage from the same insurance company you use for your other policies, you can potentially qualify for a multi-policy discount.
Additional Discounts and Deals You May Qualify For
- Long-time client and new customer discounts: If you have been with the same agent for many years, ask if you qualify for any loyalty discounts for your years of patronage. By the same token, if you are a new customer, be sure to ask if there are any special deals for new business.
- You do need a driver’s license to operate a boat; ask if they have good driver discounts.
- Ask if increasing the deductible could save you money.
- Consider reducing your comprehensive coverage if your boat does not have significant value.
Don't Skimp on Boat Insurance Coverage
While it may be tempting to insure your boat for the bare minimum, insuring your watercraft for liability and theft may save you money in the long run. For example, your boat liability insurance offers critical protection in the event that you are held responsible for an accident on the water.
If someone is severely injured or killed, a resulting lawsuit can result in hundreds of thousands of dollars in medical expenses and legal fees. When looking for low-cost boat coverage, make sure you find ways to save that won’t leave you with huge out-of-pocket expenses after an incident.
Working with an independent agent can provide a distinct advantage to you, as you’ll have one-on-one consultation with a local professional who will get to know you personally and be able to identify your needs. An independent member agent and can provide guidance on the best policy at an affordable rate.
Tips for Making your Boat Insurance More Affordable
- Make sure the information such as year, make, model, horse power and the speed threshold is correct.
- Do not over-insure the boat, motor or trailer. Insure it for what it is worth.
- Always read the manufacturers manual. There are usually safety tips on the manufacturers’ websites. Be sure to report any special safety measures to your agent; you may be eligible for a discount.
Finally, it really does pay to shop around to find the best deal on your boat insurance. An independent agent can do this research for you, as these agents are affiliated with multiple insurance companies.
An independent agent will help you find the best deals on your boat insurance based on your individual needs. Contact an independent agent in your area today.