What To Expect When Shopping for a Boat Insurance Policy

Are you currently comparing boat insurance costs to find the right policy for your vessel? If this is your first time looking for a boat insurance policy, you might not be sure what to expect. Here are the main expenses and factors to keep an eye out for throughout the search process.

Be Prepared To Cover Several Types of Fees and Expenses

You may be prepared to cover the premium cost for your insurance, but did you know that there might be other expenses attached to your boat? How much you end up paying may depend on several factors. Ask yourself:

  • What percentage of your boat’s value will your insurance cost per month?
  • Would you rather have a larger deductible with a smaller premium rate or vice versa?
  • Does your state tax boat ownership?
  • Will you need to pay state registration fees for your boat?

Look for Coverage That Offers Protections Your Boat Requires

During the insurance search process, it’s important to pin down the exact coverage your boat requires. Depending on your type of boat and your location, you may want coverage for:

  • Property damage in the event of an accident
  • Injury or bodily harm caused by your boat
  • Risk of damage due to natural weather events in your area
  • Risk of defect due to the boat’s age or condition

When looking at boat insurance costs, it’s important to be prepared. Review these key factors and common expenses to help you understand what to expect.