Below are a few tips that will help you save on boat insurance. Not only will the below help you lower your premium on your next boat insurance quote, but these tips will improve the overall safety of your boating experience.
1. On your next haul out, get a survey.
Having a recent survey is the best way to lower your boat insurance premium. A survey can prove to insurance carriers that your boat is in good condition, which in turn lowers the probability of an accident happening, which in turn lowers your boat insurance premium. Be sure to complete all of the survey recommendations.
2. Take a boating course.
Completing a boating course can lower your your premium on your next boat insurance quote. A large percentage of boating accidents are caused by operator error. Completing a boating course will make you a more competent boater, which will lower the probability of an accident happening under your watch.
3. Speak to a specialist boat insurance agent.
An agent who specializes in boat insurance can tailor a boat insurance policy that is specific to your needs. A boat insurance agent will be able to recommend the appropriate cover for your specific needs and can make sure that you aren’t paying for coverage that you don’t need.
4. Keep a clean driving record and a good credit score.
Boaters who have a criminal record or have multiple driving offences may pay higher boat insurance premiums than boaters with a clean record. Insurance carriers view people with criminal records or multiple driving offences as a higher risk than others.
5. Install safety gear.
Having the appropriate safety gear on board will not only keep you, your guests, and your boat safe, but it will help to lower your boat insurance premiums. Having safety gear such as updated bilge pump systems, alarms, and an EPIRB lowers the chances of an accident or injury occurring. This can lower your boat insurance premium.
On your next insurance renewal, be sure to notify your boat insurance agent if you have completed any boating courses, completed any new surveys, or installed any new safety gear or safety systems.