Summer is the peak boating season, drawing more vessels onto the water than any other time of year. With increased activity comes a higher risk of accidents, making it a time when coverage matters most. Understanding your boat insurance cost can help you choose the right policy without overpaying. Rates vary depending on factors like boat type, usage, and location, so it’s important to compare options carefully.
Reviewing your policy now can help lower your boat insurance cost before seasonal rate increases take effect. Taking proactive steps like updating your coverage or bundling policies can lead to big savings without sacrificing protection.
Review and Update Your Current Policy
Taking time to review and update your current policy can uncover ways to save while keeping your coverage aligned with your needs.
If your boat usage has changed or you’ve made upgrades or removed certain equipment, some parts of your policy may no longer be necessary. Removing outdated or unnecessary coverage helps reduce waste and keeps your premium in check.
It’s also important to verify that your insured value reflects current market conditions. Boats depreciate or appreciate depending on demand, wear, and upgrades. Making sure your valuation is accurate can prevent both overpayment and gaps in coverage.
Ask your agent whether you qualify for policy bundling or multi-boat discounts. Bundling home, auto, and boat coverage under the same provider can lead to significant savings, especially if you own more than one vessel.
Invest in Safety and Security Upgrades
Investing in safety and security upgrades can make your boat less vulnerable and more insurable. Anti-theft devices, GPS tracking systems, and essential safety gear like fire extinguishers and automatic bilge pumps all reduce potential risks. Many insurers offer premium discounts for installing this kind of risk-reducing technology.
Complete a Boating Safety Course
Completing a boating safety course approved by the Coast Guard or NASBLA can lead to real savings. Discounts may be available to certified boaters who demonstrate responsible handling. Beyond the discount, safety education helps reduce long-term claims by lowering the risk of accidents.
Store and Maintain Your Boat Responsibly
Storing your boat in a secure, weather-protected location and scheduling regular maintenance can help prevent damage and reduce liability risks. Sharing maintenance logs with your insurer also demonstrates responsible ownership, which may support better coverage terms.
Ask About Usage-Based or Seasonal Coverage
Usage-based or seasonal coverage can better match your insurance to how often you use your boat. Ask your insurer about lay-up periods or mileage-based pricing that adjusts rates based on actual use. This step helps you avoid paying for full coverage when your boat is stored or inactive.
Steer Into Summer With Confidence and Savings
Reviewing your coverage before peak boating season is crucial to ensuring you’re adequately protected. Small updates now can significantly lower your boat insurance cost, helping you avoid unnecessary expenses.
Mariners Insurance excels in tailoring policies based on real usage and vessel type, ensuring optimal coverage. With years of experience, we help clients balance coverage needs and costs.
Review your policy to ensure you’re fully covered for the season. Contact Mariners General Insurance Group today for a personalized quote and tailored policy review!
About Mariners General Insurance Group
Mariners General Insurance Group was founded in 1959 to protect boat owners and marine business clients. We are marine insurance experts and insure boats worldwide — in every ocean on the planet. Marine insurance is critical if you own a boat or nautical business. Trust the professionals with all of your Boat Insurance needs — trust Mariners Insurance. Call us at (888) 402-5018 any time you have questions or concerns about insurance for your vessel or marine business.
