3 Factors That Affect Your Boat Insurance Rate

boat insurance

One of the best things about living in a state that’s full of beach and ocean locations is the endless number of water sports that you can partake in, including surfing, diving, snorkeling, and even boating adventures like fishing and dolphin watching.

But the fun stops the moment you need to reach into your wallet to pay for damages due to a mishap—sucking all the fun out of your boating adventure.

This is why all boat owners need to consider getting insurance. Worried about sky-high rates? Here are all the factors that affect your boating insurance rates.

Driving Record

Your driving record is one of the most important factors that affect your insurance rate. Things like DUIs and reckless driving arrests are typically the kind of things that are taken into account when settling the rate of your boat insurance.

If you have a poor driving record, your boat insurance rate is likely to be higher than most other people’s.

Boat Ownership Experience

Here’s a rule of thumb when it comes to boat ownership experience: the more experienced you are as a boat owner, the better the rate you’re likely to get.

For example, a person with over 30 years of boat ownership experience will probably have a better rate than a relatively new boat owner.

yatch boat

What You’re Using the Boat for

The way you use your boat and the purpose it serves make a major difference in what the boat insurance rate will be. For example, a boat that is being used to tow water skiers back to the beach will have a lower ratecompared to one that’s being used for fishing adventures.

Storage Location

Contrary to popular belief, the storage location you choose for your boat plays a huge part in calculating its insurance rate. For example, if the storage location for your boat is a shed, you’re likely to have a lower boat insurance rate compared to if you’re storing your boat on a dock.

Safety Measures

Safety measures—like having a boat safety course under your belt—can get you a significantly lower boat insurance rate.

Getting your boat insured can save you from a lot of trouble. If you’re looking to get your boat insured, look into reliable and trustworthy companies that maintain a good reputation.

Our team of experts at Manatee Insurance Services focuses on providing high-quality insurance services including Boat  and Flood insurance in Bradenton, FL, and encourage a safe and stress-free boating experience. If you want to get in touch with us, you can reach us at 941-747-7283.


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