Even if you’re a veteran mariner, you still have to properly research to secure the right boat insurance for your vessel. You know that you need to protect your vessel from liabilities and damage, but finding coverage can be complex. You likely have questions — like how do you know what insurance company to trust? Where do you find a policy for boats?
The Right Boat Insurance
The right OC boat insurance can answer all of these questions and provide the peace of mind that you seek. To find the best coverage, you need to know what will influence your rate.
Specifications of Your Boat
Your boat’s specifications are some of the essential things to determine your insurance rate — and what kind of insurance you should get. It includes the year of origin, the manufacturer, the model, its horsepower rating, and what sort of motor it runs on. Many insurers will charge higher premiums for higher-powered boats because they are more likely to be involved in accidents. It can benefit boaters, though, if the policy includes additional coverage.
Your Driving Record
You might have to do a driving record audit when applying for a boat insurance policy. Indeed, a poor driving record may indicate that you’re a reckless driver, so insurers want to know everything they can about your driving habits. Though this can be a problem if you have a spotty record with speeding tickets or DUI arrests, the opposite is also true — it can be beneficial if you have a clean driving record that’s free from incidents.
Primary Area of Navigation
Another major factor determining how to choose boat insurance is the area you intend to use your boat. Some areas are more dangerous or heavily populated than others, so insurers will be liable to charge a higher premium for ships in these locations. The location of your boat also plays a big part in the general wear and tear it sustains — boats in salt water, for example, require much more maintenance than those kept in freshwater.
Boat Safety Features
Finally, your boat’s safety features will likely receive consideration when calculating your policy rates. You should always review a boat safety checklist before heading onto the water. You should ensure that your boat has essential safety features such as a fire extinguisher and life jackets. Installing additional safety devices — like a sound signaling device or visual signaling device —can show an insurer that you are a low-risk client. It can improve the overall safety of your boat, and it may also allow you to get even lower insurance rates.
About Mariners Insurance
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.
