Owning a boat can be a lot of fun, but it also comes with unique risks. If you are involved in a boat accident, you may be responsible for high costs associated with the incident, including personal injuries, property damage, and liability costs. Make sure you enjoy your boat outings without worrying about your financial risk by carrying a Newport Beach boat insurance policy.
How to Save on Your Insurance Policy
Did you know approximately 2,511 people are injured in boating accidents each year? Hopefully, you will never become part of this statistic. But if you do, good insurance coverage can help minimize the financial impact. There are a variety of ways you can save money on your Newport Beach boat insurance policy.
Money-Saving Tips for Boaters
- Comparing Boat Insurance Policies: When it comes to getting the best deal for your insurance policy, it’s important to shop around. You should compare at least three different policies side-by-side to determine which one offers the best value.
- Consolidate Your Insurance Policies: Did you know you could potentially save money by carrying all your insurance policies from the same company? For example, if you have renters, homeowners, auto insurance and boat insurance policies, you may be able to get a package rate by going through the same insurance company. It’s also easier to track your insurance information if it’s all in one place instead of spread out across several different companies.
- Make Sure You Have Good Credit: You’re more likely to get the best available rates if you have good credit. Insurers sometimes analyze the credit scores of applicants to determine how risky it is to insure them. In most situations, someone with a good credit score is responsible and financially secure. The opposite is true, as well. Most insurance agents agree that an applicant’s credit score has at least some impact on the monthly insurance rate.
- Increase Your Deductible: If you’re concerned about the monthly cost of your Newport Beach boat insurance policy, consider increasing your deductible. That way, you’ll pay less each month, though you will pay more out of pocket if you are involved in a boat accident.
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.